Daon, the Digital Identification Belief firm, and CU*Solutions, the cooperative Credit score Union Service Group (CUSO) headquartered in Grand Rapids, Michigan, right this moment introduced they’re offering digital identification proofing, authentication, and onboarding options to CU*Solutions’ community of over 350 credit score unions by way of Daon’s IdentityX® platform.
Daon’s IdentityX combines multi-factor authentication capabilities with document-centric identification proofing, creating an answer that spans your entire buyer identification lifecycle and serves over 200 credit score unions.
“We’re seeing a surge of organizations throughout industries recognizing that siloed identification capabilities are a factor of the previous, and credit score unions aren’t any exception,” mentioned Conor White, president of the Americas at Daon. “Along with our companions at CU*Solutions, we’re ensuring the advantages of our identification assurance applied sciences lengthen to credit score union members in all places.”
For the credit score union member, identification proofing with IdentityX is a straightforward course of that takes roughly one minute. Members merely discover their government-issued identification doc, like a driver’s license or passport, snap some pictures of the doc, after which take a selfie. In seconds, Daon’s synthetic intelligence/machine studying algorithms confirm the doc’s integrity and match the selfie to the doc picture, all whereas utilizing industry-leading liveness detection to forestall spoofing with a photograph or video recording. If desired, extra third-party knowledge sources will also be leveraged as a part of the KYC/AML necessities for the credit score union.
“CU*Solutions is happy so as to add this additional layer of safety on behalf of our purchasers and their member base to cut back fraud on the very begin of creating a relationship,” says Geoff Johnson, CEO of CU*Solutions. “Our goal is to extend our purchasers’ degree of satisfaction by offering as seamless of a consumer expertise as attainable whereas conserving fraudsters out, and Daon has been an ideal companion in facilitating that.”
Daon’s platform permits identification continuity – seamless end-to-end identification experiences throughout all units and channels. With no gaps between identification proofing and authentication processes for fraudsters to take advantage of, credit score unions can higher stop fraud inside and throughout channels, gaining a extra unified view of their members and extra alternatives to personalize, streamline, and improve the member expertise.
To assist credit score unions combine and deploy identification proofing and authentication capabilities as shortly and affordably as attainable, Daon and CU*Solutions are offering the answer as a completely hosted, no-code/low-code net utility with snap-in integration by way of the favored Open ID Join (OIDC) protocol. Utilizing this deployment mannequin, credit score unions can start authenticating member identities in a matter of hours.
Daon and CU*Solutions first partnered in 2018 when CU*Solutions launched its A number of Authentication Comfort Choices (MACO) product, powered by Daon’s IdentityX®, in its Web Retailer Help Heart (IRSC).