As we enter the following period of digitization 2.0, identification verification and fraud prevention have moved from supporting roles to essential infrastructure. On the similar time, advances in AI are making it simpler for dangerous actors to avoid legacy controls, rising each the complexity and the stakes of managing digital danger.
From onboarding new clients to authenticating transactions and stopping losses in actual time, banks and fintechs are underneath stress to strike the precise stability between safety and consumer expertise. Happily, fintechs are tackling this problem head-on, constructing identification and fraud controls that scale back friction, strengthen belief, and make digital finance scalable. The 4 corporations beneath are constructing among the most cutting-edge instruments on this phase and can showcase their options on the demo stage at FinovateEurope, which takes place February 10 and 11 in London.
Candour Id
Candour Id 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 day by day identification checks for login and cost use instances, Candour reduces fraud losses with out introducing extra friction for reliable customers.
Darwinium
Darwinium helps organizations detect and stop 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 offer a “VIP” expertise to good clients whereas making use of stronger controls the place wanted. The method is designed to cut back fraud losses with out sacrificing the general buyer expertise.
Elephant
Elephant targets false declines and chargebacks, two persistent challenges in digital funds. By bettering transaction decisioning, the corporate helps companies approve extra reliable transactions whereas decreasing downstream fraud and disputes. The result’s increased authorization charges, fewer buyer complaints, and decrease operational prices tied to chargeback administration.
Keyless
With Keyless, customers are the important thing. The corporate’s know-how replaces conventional multi-factor authentication strategies, corresponding to one-time passwords, with biometric authentication. Keyless’s know-how permits passwordless and tokenless login experiences whereas sustaining robust safety controls. By eradicating reliance on name facilities and handbook restoration flows, Keyless goals to enhance consumer expertise and considerably scale 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 changing 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 scale back fraud and operational prices whereas bettering buyer expertise by making use of smarter, extra adaptive controls. Somewhat than counting on inflexible guidelines or legacy authentication strategies that may simply be spoofed utilizing AI, trendy identification and fraud platforms enable banks to approve extra good clients, intervene solely when danger is actual, and scale digital progress with out sacrificing belief.
To observe these corporations demo their latest instruments in particular person, register for FinovateEurope, see what’s new, and shake fingers with the innovators.
Photograph by Tima Miroshnichenko
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