Canopy, a financial technology and due diligence services provider, has partnered with moby, a global digital identification and authentication services provider, to bring a new user identification technology to the mortgage and real estate industry. Called Clear, the technology authenticates users through visual biometrics. Users confirm their identity by means of a digital selfie cross-indexed against a verifiable source of ID, such as a driver’s license.
The technology can also access a number of authenticated le real time,third-party data sources for additional layers of identity validation. Clear additionally scans the user for “liveness” to confirm a real person is involved in the process.
“Data alone will not prevent identity fraud. Clear provides federated identity and biometric authentication that is already proven in multiple industries and will have a series of highly effective applications within the mortgage industry,” said Canopy COO Andrew DeGood. “In fact, Canopy has already deployed Clear on its own behalf to authenticate individual employees within its distributed workforce that work with its customers’ sensitive data. The solution is lightweight and versatile, so new users are up and running in seconds, without any need for burdensome integration and installation.”
DeGood says there will be multiple uses for Clear throughout the mortgage and real estate industry, including eNotary or R.O.N. (remote online notary); loan officer verification; human resource authentication and anti-fraud.
The underlying technology is already being used successfully nationwide in the banking, insurance, healthcare and retail industries as well as by government entities.