Trident3, a New York-headquartered startup, is adopting Sumsub’s full suite of identity verification solutions as part of its T3id platform. This partnership is meant to fight the rising fraud that often accompanies digital wallets and blockchain technology. Sumsub's capabilities, including KYC, KYB, AML screening, fraud prevention, and ongoing transaction monitoring, will enhance the security and trustworthiness of Trident3's platform. Under strict test conditions, Sumsub’s liveness detection software was able to successfully complete iBeta Level 2 testing. It has recently received recognition by Biometric Update, providing your app with further peace-of-mind security. This decision makes sense against the backdrop of a booming demand for more transparency and accountability in Web3.
Enhancing Digital Identity with Sumsub's Verification Tools
T3id’s platform is significantly enhanced by Sumsub’s integration, which adds a complete range of verification tools. These tools are helping to make compliance and security default across all Web3 applications. Trident3 is built with Know Your Customer (KYC) and Know Your Business (KYB) processes. This is how it enables them to ensure compliance and verify the identities of individual users and businesses within its crypto ecosystem.
AML screening is another key part of Sumsub’s identity verification solution. It assists in detecting and combatting money laundering offenses. In addition, Sumsub’s fraud prevention solution operates on the principles of identifying and preventing suspicious transactions. Finally, ongoing transaction monitoring ensures continuous security.
Addressing the Growing Threat of Blockchain Fraud
The partnership between Trident3 and Sumsub directly addresses the growing concern of fraud within the digital wallet and blockchain space. As the adoption of advanced technologies like AI and biometrics continue to grow, so does the need for a strong identity verification solution. By anchoring identity to a non-transferable NFT, T3id seeks to maintain uniqueness across networks.
"The rise in digital wallets and blockchain-related fraud highlights the urgent need for stronger identity verification. T3id combats fraud by anchoring identity to a non-transferable NFT that ensures uniqueness across networks." - Todd Jarvis, Global Head of Partnerships at Aware
Trident3's CEO and co-founder, Steve Goldstein, believes that Sumsub's advanced verification capabilities will significantly enhance the security and reliability of the T3id platform. Improving usability This, in turn, will increase user confidence and trust in the otherwise tumultuous Web3 space.
Leveraging Liveness Detection for Enhanced Security
A major step to aid this effort stems from Sumsub’s liveness detection software. In addition, this technology needs to have users physically present in order to verify. It easily stops the use of spoofed or stolen identities. As covered by Biometric Update, the software’s compliance with iBeta Level 2 standards speaks to its reliability and accuracy.
With this advanced liveness detection, Trident3 is raising the bar for identity verification within the Web3 ecosystem. This proactive approach to security is key to establishing a safe and secure global digital ecosystem.
