The London Stock Exchange Group (LSEG) has partnered with IDVerse to strengthen its digital identity verification services.
LSEG aims to combat the growing threat of digital deception, including synthetic media and deepfakes.
This collaboration will integrate IDVerse’s advanced technology, including its fully automated “Zero Bias AI,” which leverages regenerative AI, into LSEG’s existing spectrum of risk solutions.
This AI-powered tool aims to provide accurate identity verification while minimising potential bias based on race, age, and gender.
The partnership will focus on improving the speed and reliability of document and biometric checks, addressing issues of accessibility and fraud prevention.
This is crucial in today’s rapidly evolving digital landscape where IDVerse reports that one in four fraud attempts now involve some form of digital deception.
Both companies emphasise the importance of creating interoperable systems that can be customised to meet the specific needs of each customer.
This offers a next-generation workflow without compromising on security or user experience.
By enhancing digital identity verification, LSEG and IDVerse aim to improve access to vital services while ensuring legal and regulatory compliance for global operations and maintaining trust and security.
Daniel Flowe, Head of Digital Identity at LSEG, said,
“Onboarding IDVerse complements LSEG’s identity verification capabilities and adds yet another means of low-friction, high assurance identity verification for our customers. IDVerse’s ability to scale across a huge variety of geographies and customer verification use cases allows us to offer our customers a future-proofed solution to digital identity verification.
To give our customers confidence, we extensively tested IDVerse’s interoperability, performance, and agility to ensure that it matched our existing best-in-class standards. This combination gives us a truly next generation workflow to bring to market.”
John Myers, CEO, IDVerse added,
“The pace of evolution in digital deception that identity platforms like LSEG required a tool that adapts to new fraud vectors whilst giving a great customer experience to good customers. This is illustrated by IDVerse now experiencing 1 in 4 fraud attempts involving digital deception.
The partnership with LSEG allows businesses to remain open to new opportunities whilst adapting to a changing world. Their spectrum of risk solutions, all from one trusted partner, helps organisations efficiently navigate risks, avoid reputational damage, reduce fraud and ensure legal and regulatory compliance around the globe”.
Featured image credit: Edited from freepik
