Veridium to power biometrics for Nordea
Biometric authentication software company Veridium (formerly Hoyos Labs) has partnered with Nordea, the largest bank in the Nordic region, which will deploy the VeridiumID platform, reports Julie Muhn at Finovate (FinTech Futures’ sister company).
With around 11 million customers, 31,500 employees and 600 branch office locations, Nordea will use VeridiumID to replace tokens with biometric authentication for access to confidential and secure data.
VeridiumID leverages biometric authentication that works in conjunction with a front-end mobile SDK that allows companies to embed biometrics into their mobile app. The bank considers this a critical first step in embracing multi-factor biometric authentication. The firm says VeridiumID’s software-only approach gives Nordea increased customisation and scalability and offers increased security and ease-of-use at a lower cost.
And with the upcoming GDPR deadline, this comes at a “good time” for Nordea. The implementation of VeridiumID is part of Nordea’s strategy to improve how employees access data and accounts while meeting the new GDPR compliance demands.
James Stickland, CEO of Veridium says: “With Veridium, Nordea will be able to take its first steps in advancing security for high privilege access and GDPR compliance.”
In addition to VeridiumID, Veridium offers VeridiumAD, which adds biometric authentication to Microsoft Active Directory environments, and 4 Fingers TouchlessID, which authenticates the user by capturing all four fingerprints at once using a rear-facing camera and LED flash.
Last month, Veridium partnered with Walla to bring biometric authentication to sub-Saharan Africa. Founded in 2015, the company has offices in the US, UK and Romania.