As we enter the following period of digitization 2.0, identification verification and fraud prevention have moved from supporting roles to crucial infrastructure. On the similar time, advances in AI are making it simpler for dangerous actors to bypass legacy controls, rising each the complexity and the stakes of managing digital threat.
From onboarding new clients to authenticating transactions and stopping losses in actual time, banks and fintechs are below strain to strike the appropriate stability between safety and consumer expertise. Thankfully, fintechs are tackling this problem head-on, constructing identification and fraud controls that cut back friction, strengthen belief, and make digital finance scalable. The 4 firms beneath are constructing a few of the most cutting-edge instruments on this section and can showcase their options on the demo stage at FinovateEurope, which takes place February 10 and 11 in London.
Candour Identification
Candour Identification goals to enhance digital onboarding by combining identification verification, biometrics, and fraud prevention right into a single workflow. The platform is designed to assist monetary establishments improve conversion charges whereas sustaining regulatory compliance, enabling ongoing biometric authentication past preliminary onboarding. By supporting each day identification checks for login and cost use circumstances, Candour reduces fraud losses with out introducing extra friction for official customers.
Darwinium
Darwinium helps organizations detect and forestall fraud whereas minimizing friction for trusted clients. Its platform distinguishes between high-risk and low-risk customers in actual time, permitting banks and fintechs to supply a “VIP” expertise to good clients whereas making use of stronger controls the place wanted. The strategy is designed to scale back fraud losses with out sacrificing the general buyer expertise.
Elephant
Elephant targets false declines and chargebacks, two persistent challenges in digital funds. By enhancing transaction decisioning, the corporate helps companies approve extra official transactions whereas decreasing downstream fraud and disputes. The result’s larger authorization charges, fewer buyer complaints, and decrease operational prices tied to chargeback administration.
Keyless
With Keyless, customers are the important thing. The corporate’s expertise replaces conventional multi-factor authentication strategies, comparable to one-time passwords, with biometric authentication. Keyless’s expertise allows passwordless and tokenless login experiences whereas sustaining robust safety controls. By eradicating reliance on name facilities and guide restoration flows, Keyless goals to enhance consumer expertise and considerably cut back authentication-related prices for banks. Keyless was acquired by Pindrop Safety in November 2025.
Why banks ought to care
Digital channels are more and more turning into the first level of interplay with clients, shifting the significance of verification applied sciences. The businesses highlighted above present how banks, funds corporations, and marketplaces can cut back fraud and operational prices whereas enhancing buyer expertise by making use of smarter, extra adaptive controls. Quite than counting on inflexible guidelines or legacy authentication strategies that may simply be spoofed utilizing AI, trendy identification and fraud platforms permit banks to approve extra good clients, intervene solely when threat is actual, and scale digital development with out sacrificing belief.
To observe these firms demo their latest instruments in individual, register for FinovateEurope, see what’s new, and shake arms with the innovators.
Picture by Tima Miroshnichenko
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