Regtech vendors partner to make mobile account opening ‘frictionless’

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.

Jeanne dePolo