Canadian companies IDVerifact – a subsidiary of Prodigy Ventures – and BioConnect have jointly developed a way to verify identity across physical, IoT and digital applications.

IDVerifact is integrating BioConnect’s trust platform, including multi-factor authentication and endpoint security, into its digital identity platform.

“IDVerifact’s mission is to provide the most comprehensive platform of digital identity and trusted digital assets to our enterprise clients,” said George Colwell, senior vice president at IDVerifact. “BioConnect is leading in the provision of digital and physical biometrics. BioConnect’s functionality allows us to expand the passive and passwordless capabilities for our clients providing IDVerifact with expanded flexibility when solving unique step-up and access use cases. Providing the ability to remove friction in existing identity validation and confirmation processes to our clients is essential in today’s digital world.”

The BioConnect trust platform connects to existing systems with biometric and mobile security. It is designed for large enterprises and financial institutions with complex infrastructure and security requirements, who need to reduce the risk of fraudulent digital transactions or access, as well as those seeking to secure physical assets or facilities and increase regulatory compliance.

“The integration of BioConnect’s trust platform with Prodigy’s IDVerifact will deliver identity assurance and adaptive authentication through mobile based multi-factor biometric authentication for digital transactions to meet enterprise customers’ security needs, compliance requirements and to prevent fraud,” said Mark Brady, vice president at BioConnect.

A Prodigy venture, IDVerifact provides the ability to combine and access a complete suite of digital identity providers to meet business use cases. This helps organisations stay ahead of fraud, quickly identify risk and ensure compliance while optimising their ability to grow revenues and improve client experience with digital transactions.

BioConnect helps increase security and identity assurance for any access event, no matter the deployment. It provides enterprise biometric authentication and a security platform to establish stronger trust in unifying a person’s identity across physical, IoT and digital applications. The result is exact identity assurance, cyber security and protection of the company assets such as people, data and IP.

The company is based in Toronto, Canada, and employs more than 60 people.