Daon inks deal with South Africa’s Capitec Bank
Biometric identity technology solutions provider Daon has partnered with South Africa’s Capitec Bank in a multi-year agreement that will leverage Daon’s IdentityX platform to develop new authentication solutions. Capitec initially will use the technology to enhance its onboarding process, reports David Penn at Finovate.
With more than ten million active clients, Capitec is the fastest growing full service retail bank in South Africa.
The bank has more than 820 branches and 4,600 ATMs across the country, and has more than three million customers using its banking app to access account information, as well as make payments, transfers, and pre-paid purchases.
IdentityX uses multiple authentication methodologies – from biometrics to geolocation and device binding – to enable firms to build the most appropriate authentication experience for their customers.
The firm says this approach also future-proofs the platform, making it easy for companies to integrate new technologies and biometric modalities as they come to market.
Founded in 2002, Virginia-based Daon has deployed its technology in a wide variety of verticals including digital banking, payments verification, employee credentialing, and cloud authentication.
In other news, Daon teamed up with Tradelink to bring biometric authentication technology to Hong Kong’s Dah Sing Bank this summer, and began the year announcing a partnership with North African security and document dematerialisation specialist, Gemadec.