Aware and NeoCheck Unleash the Power of Biometrics to Help Global Organizations Comply with Industry Regulations

Companies to Deliver Biometrics-Based Digital Identity Solutions Across Europe and Latin America

BURLINGTON, MASS. – December 4, 2024 – The first half of 2024 saw a significant surge in anti-money laundering (AML) actions – a sign that regulators are cracking down on banks and fintech security. Criminals that ‘wash’ dirty money through financial systems use several methods to avoid detection. For example, synthetic identity fraud happens when a criminal creates a man-made identity, or a person who doesn’t exist, to open an account, that they then use to launder money through.

Oftentimes, preventing financial crimes like this and complying with regulations like Know Your Customer (KYC), Know Your Business – Anti Money Laundering and Counter-Terrorism (KYB AML-CT) and more is a matter of being able to verify that individual customers are who they claim to be. To this end, NeoCheck, maker of an AI-powered digital identity suite, is partnering with Aware, a leading provider of biometric authentication solutions, to deliver biometrics-based digital identity and authentication solutions to financial institutions and enterprises across Europe and Latin America.

“To comply with the ENS certification, we only work with trusted technology providers accredited with the highest standards,” says Héctor Insausti, CEO and Founder, NeoCheck. “A partnership with Aware means we can now provide the world’s most advanced biometric capabilities through our identity verification APIs, SDKs and platform, saving our clients time and money in integrations and support.”

The ENS certification, based on Spain’s Royal Decree 311/2022, is a framework that ensures an organization’s information systems meet specific security standards to protect data and services, focusing on confidentiality, integrity, and availability.

NeoCheck’s digital identity suite combines automated ID document verification and facial biometrics with watchlist screenings (monitored via human reviews), so organizations can keep fraudsters and dubious businesses at bay while maintaining compliance. Just as importantly, comprehensive digital identity verification processes can be completed in fractions of a second, ensuring that honest customers get only the fastest, most highly convenient authentication experience.

“It’s not just banks and fintechs who need to be able to verify with absolute certainty that a person is who they claim to be,” says Todd Jarvis, Global Head of Partnerships at Aware. “Increasingly we’re seeing other use cases in skill-based gaming, social casinos, alternative payments, hospitality, insurance, remote work, and more needing this important capability. When verifying digital identity, biometrics are just about impossible to beat, and we look forward to taking our best-in-class solution and working with NeoCheck to broaden adoption of KYC across industry verticals and use cases.”

About Aware

Aware is a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics. For over 30 years we’ve been a trusted name in the field. Aware’s offerings address the growing challenges that government and commercial enterprises face in knowing, authenticating and securing individuals through frictionless and highly secure user experiences. Our algorithms are based on diverse operational data sets from around the world, and we prioritize making biometric technology in an ethical and responsible manner. Aware is a publicly held company (NASDAQ: AWRE) based in Burlington, Massachusetts. To learn more, visit our website or follow us on LinkedIn and X.  

Safe Harbor Warning

Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as our expectations regarding our new product. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements, including the risks that i) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; ii) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; iii) we face intense competition from other biometrics solution providers; iv) our business is subject to rapid technological change; v) our software products may have errors, defects or bugs which could harm our business; vi) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software; and vii) we derive a significant portion of our revenue from third party channel partners. . We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2023 and other reports and filings made with the Securities and Exchange Commission.

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CONTACT

Delaney Gembis
Aware, Inc.
781-687-0393
marketing@aware.com