HRB brings high-level identity assurance to banking services with the Temenos Infinity platform; combats identity fraud and eliminates the need for passwords
JESSUPS ESTATE, NEVIS, NEVIS, ST. KITTS & NEVIS, October 26, 2021 /EINPresswire.com/ — Hamilton Reserve Bank (HRB), a fully regulated global bank with worldwide offices (SWIFT: NIBTKNNE), has deployed authID.ai’s easy-to-integrate Identity as a Service (IDaaS) platform. HRB has deployed Verified™, authID.ai’s biometric multi-factor cloud-based authentication product that offers the ease of a “selfie” to confirm identity, thereby eliminating the use of vulnerable one-time passwords and knowledge-based questions for securing transactions and account recovery.
Hamilton Reserve Bank serves a large and rapidly expanding worldwide clientele, supports customer activities in more than 150 countries, offering customer deposits in 10 different currencies. As HRB launches new digital banking services with the Temenos Infinity banking platform, authID.ai, a Temenos Marketplace provider, provides high levels of identity assurance to HRB and its expanding international clientele. authID.ai’s biometric identity products are helping HRB reduce operational costs associated with supporting password resets, mitigate security risks arising from stolen passwords, phishing, and account takeovers, and ultimately deliver seamless customer experiences that fully satisfy international standards for HRB’s insistence on best practices in AML/KYC/CFT compliance.
“Hamilton Reserve Bank’s new digital banking platform makes it possible to achieve our mission of onboarding one-million new customers within the next 12 months, and authID helped us comply with rigorous regulatory programs through an automated onboarding product that accurately delivers secure, document-based identity verification and facial biometric matching of the customer,” said Prabhakar Kaza, CEO of Hamilton Reserve Bank. “Providing our valued customers with a seamless authentication experience was paramount to our growth. authID.ai’s device authentication has helped us eliminate passwords, and its cloud-based biometric authentication is securing outgoing SWIFT wires and beneficiary changes. We look forward to expanding our collaboration with authID and Temenos to support our rapid global expansion into new markets.”
In addition to deploying Verified, Proof™ by authID.ai delivers automated identity verification during digital onboarding of HRB’s global clientele, including quick mobile identity document capture and authentication, liveness confirmation, and facial biometric matching of a selfie to the credential photo. To provide a more secure and seamless login experience, AuthentifID™ offers FIDO2 password-less login and strong customer authentication with cryptographic security and compliance with PSD2 requirements, a critical need for international banks.
authID.ai (Nasdaq: AUID), formerly Ipsidy, provides secure, mobile, biometric identity verification software products through an easy-to-integrate Identity as a Service (IDaaS) platform. authID.ai’s suite of self-service biometric identity proofing and authentication solutions frictionlessly eliminate all usernames and passwords through a consent-based facial matching system. Powered by the most sophisticated biometric and artificial intelligence technologies, authID ultimately aims to re-establish security and trust between businesses and their customers by helping to protect sensitive personal data. For more information, go to www.authid.ai
About Hamilton Reserve Bank
Hamilton Reserve Bank (HRB) (www.hrbank.com), the “Customer First Global Bank,” is a fully regulated leading banking institution with worldwide representative offices. HRB is the largest global bank headquartered in St. Kitts and Nevis, a prosperous British Commonwealth nation and the birthplace of America’s founding father Alexander Hamilton. Led by HRB’s founding Chairman the Rt. Hon. Sir Tony Baldry and a global team of seasoned executives, HRB has a deep British heritage servicing a rapidly expanding worldwide private banking and corporate banking clientele through several business lines: Banking, Asset Management, New Business Registration, and Capital Markets. The bank’s Asset Management ETF business is offered through an independently managed affiliate listed on the New York Stock Exchange (NYSE symbol: VSL). The Bank’s independently managed Asset Management business is a registered investment adviser regulated by the U.S. Securities and Exchange Commission (SEC), duly authorized to manage customer investment portfolios. The Bank’s new business formation affiliate AAA Global Incorporation & Trust Ltd (www.trustaaa.com) is a leading worldwide incorporator and trust company with a 27-year operating history.
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