IdentityMind Global, a risk management and compliance vendor, will offer document authentication technology from Confirm.io to its financial services customers so they can allow consumers to open accounts with mobile devices.
When people snap a photo of their driver’s license or other ID while signing up for services, Confirm.io’s application programming interface pings various databases to check that the document is legitimate. Clients can build their own verification apps using Confirm’s software development kits.
Trusting a digital identity “requires strong validation of the underlying identity attributes,” Garrett Gafke, IdentityMind’s CEO, said in a press release.
The firms’ combined offering “delivers on the promise of a frictionless user experience that provides the ability to understand and guard against risk while also keeping customers happy,” he said.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.