PAMPLONA, Spain--(BUSINESS WIRE)--Veridas, a Spanish technology company specializing in digital identity and biometrics, is positioned in fourth place among the best facial biometrics engines among the nearly 150 algorithms submitted to the evaluation conducted by the National Institute of Standards and Technology (NIST), considered the most prestigious body in the assessment of biometric engines in the world.
Veridas joins the world elite in this sector. The company from Navarre has achieved its best result in the most demanding category possible: the evaluation of one out of many (1:N) with a sample size (N) of 12 million. Specifically, it has registered a False Negative Identification Rate (FNIR) of 0.0232 for a False Positive Identification Rate (FPIR) of 0.001.
Thus, when searching for a known subject in a database of 12 million records, the Veridas engine will find the correct individual as the first candidate 97.68% of the time. This facial biometric engine is also the same one that is already available in production for the company's more than 250 Tier 1 customers in more than 25 countries.
Veridas has achieved iBeta's most advanced evaluation in life detection
The Veridas engine analyzes a facial image, which is then converted into an irreversible vector, making it impossible to recover the original image if that vector is lost. The vectors obtained from the images are then compared to determine the similarity score between the two images. In addition, the company has achieved iBeta's most advanced evaluation in life detection, being one of the few companies in the world to hold both Level 1 and Level 2 status.
Veridas is once again at the top of the NIST recognition list. In fact, in the voice biometrics and combined voice and facial biometrics evaluations, the company has achieved second and first place, respectively.
In its commitment to be at the forefront of transparency, auditing and reliability of its biometric solutions, Veridas has been one of the first companies worldwide to perform a 'Diagnosis on the ethical principles of Artificial Intelligence' and has passed the iBeta PAD Level 2 evaluation for its liveness detection technology. Additionally, Veridas has connected its Identity Verification Platform with the American Association of Motor Vehicle Administrators (AAMVA) database to offer their US customers a more robust and secure ID verification solution.
"The NIST assessment is a recognition of the hard work of our entire team over the last 10 years and confirms our technological and market leadership in Biometrics and Digital Identity, always with the utmost respect for privacy and data protection," says Eduardo Azanza, CEO of Veridas.
Veridas is a technology company that was founded in 2017 as a joint venture with BBVA. Since then, it has become a leading global player in the identity industry, serving over 250 clients across 25 countries in sectors such as banking, insurance, telecommunications, and public administrations. Veridas' success is built on its commitment to technology, talent, and hard work, and its mission is to enable secure and reliable identity verification and authentication through its cutting-edge biometric solutions.
Veridas focuses on what it calls "Phygital" identity, combining physical and digital identity verification for a seamless user experience. Its modular solutions, which include its own facial biometrics, voice biometrics, and identity document verification technologies, can be tailored to any scenario.
Veridas was born with the purpose of guaranteeing people's right to use their real identities in the digital and physical world. Its vision is a future that is passwordless and keyless, where people are recognized privately, securely, and voluntarily for who they are.