As we enter the subsequent period of digitization 2.0, id verification and fraud prevention have moved from supporting roles to crucial infrastructure. On the identical time, advances in AI are making it simpler for unhealthy actors to bypass legacy controls, growing 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 strain to strike the best stability between safety and consumer expertise. Luckily, fintechs are tackling this problem head-on, constructing id and fraud controls that scale back friction, strengthen belief, and make digital finance scalable. The 4 firms beneath are constructing among 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 Id
Candour Id goals to enhance digital onboarding by combining id verification, biometrics, and fraud prevention right into a single workflow. The platform is designed to assist monetary establishments enhance conversion charges whereas sustaining regulatory compliance, enabling ongoing biometric authentication past preliminary onboarding. By supporting day by day id checks for login and cost use instances, Candour reduces fraud losses with out introducing further friction for reputable 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 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 enhancing transaction decisioning, the corporate helps companies approve extra reputable transactions whereas lowering 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, akin to one-time passwords, with biometric authentication. Keyless’s know-how allows passwordless and tokenless login experiences whereas sustaining sturdy safety controls. By eradicating reliance on name facilities and guide 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 enhancing 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 id and fraud platforms permit banks to approve extra good clients, intervene solely when danger is actual, and scale digital progress with out sacrificing belief.
To look at these firms demo their latest instruments in individual, register for FinovateEurope, see what’s new, and shake arms with the innovators.
Photograph by Tima Miroshnichenko
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