What happens when you combine a biometric ID-authentication specialist with an innovator in the field of electronic checks?
AuthenticID is partnering with MyECheck to bring Automated Forensic Document Authentication to electronic checking. Blair Cohen, founder and CEO of AuthenticID, said that his company’s technology will help MyECheck spot counterfeit documents, as well as documents that have been tampered with. Said Cohen, “[MyECheck] will benefit from our cloud-based, real-time solution that runs on the web, mobile devices, and tablets and its readily available APIs.”
The partnership means AuthenticID’s CatfishAIR ID-authentication technology will be integrated into MyECheck’s mobile payment solution, MyEPay. This includes AuthenticID’s check imaging technology, as well.
Ed Starrs, chairman and CEO of MyECheck, says that his company has a strong record of defending against fraud. He pointed out that after clearing more than 10 million electronic checks, his company has “no incidences” of fraud. “But by partnering with AuthenticID and integrating biometric facial recognition technology into our mobile app,” Starrs says MyECheck is “furthering its commitment to security.”
AuthenticID founder and CEO Blair Cohen demonstrated his company’s technology at FinovateFall 2013
AuthenticID’s biometric authentication works by combining Automated Forensic Document Authentication (AFDA) and a Facial Recognition Engine (FRE). Consumers take a selfie-style picture of themselves with their mobile phone, which is then compared to a photo of the consumer that is on the official ID document such as that on a driver’s license or passport.
The result is a two-factor biometric authentication-solution that is unique, fast, and accurate. Starrs said the technology would help provide authentication that was “light-years ahead of other payment methods.”