authID Expands Workforce Verification Customer Base, Signs Agreement with TurboCheck to Combat Employment Identity Fraud

Rhea-AI Summary

authID (Nasdaq: AUID) has signed an agreement with TurboCheck, a SaaS platform for employer and staffing firm identity verification, to deploy its biometric identity verification services. The partnership aims to combat the growing threat of fraudulent job candidates and employment identity fraud.

TurboCheck will implement authID's biometric verification capabilities to secure candidate vetting and remote onboarding, delivering identity verification in 700 milliseconds across devices and browsers. The solution validates identity documents and matches selfies to credential photos using facial biometrics.

The partnership addresses a significant market need, with 31,200 confirmed cases of employment-identity theft or wage fraud reported last year. The solution targets the $200B staffing and recruiting industry, offering protection against AI-generated fake IDs and deepfake videos.

Positive

• Partnership targets the large $200B staffing and recruiting industry
• Technology delivers fast verification speed of 700 milliseconds
• Expands customer base in employment verification sector

Negative

• None.

Insights

Market Research Analyst

The partnership between authID and TurboCheck addresses a critical market need in the $200B staffing industry, targeting the growing threat of employment fraud. With 31,200 confirmed cases of employment-identity theft last year, this solution tackles a significant pain point. The integration of biometric verification completing in 700 milliseconds offers a competitive advantage in the fast-paced recruitment sector. The market opportunity is substantial, as traditional screening methods become obsolete against sophisticated AI-generated fake IDs and deepfakes. For authID, expanding into workforce verification represents a strategic move to capture market share in a high-growth segment, potentially driving recurring revenue through their SaaS model.

Tech Expert

authID's biometric verification technology stands out with its sub-second processing time of 700 milliseconds and one-in-one-billion accuracy rate. The system's comprehensive approach combining document validation with facial biometrics provides robust protection against increasingly sophisticated AI-driven threats like deepfakes. The platform's browser and device-agnostic functionality suggests strong technical architecture. While the technology is impressive, the real value proposition lies in its seamless integration into TurboCheck's existing SaaS platform, enabling frictionless adoption by end-users while maintaining high security standards.

TurboCheck will rely on authID’s biometric identity verification solutions to verify new candidates and employees across its SaaS platform in response to the growing threat of fraudulent job candidates

DENVER, COLORADO, Dec. 10, 2024 (GLOBE NEWSWIRE) --  authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced TurboCheck, a SaaS platform empowering employers and staffing firms with fast and reliable digital identity verification by analyzing candidates’ online footprints, validating references, and detecting fabricated personas, has signed an agreement to deploy authID’s biometric identity verification services.

“Biometric identification and document verification will have a transformative impact on the $200B staffing and recruiting industry by effectively streamlining and securing the entire recruitment process. This agreement with TurboCheck will instantly help recruiters reduce the risk to their clients associated with fraudulent applications,” said Rhon Daguro, CEO of authID. “We are committed to helping TurboCheck verify candidates with the highest levels of identity trust and privacy protection, while delivering a seamless user experience. Their clients can have confidence in who is accessing their systems because we provide assurance of who is behind the device.”

TurboCheck selected authID for its ability to deliver an intuitive identity verification experience that is fast, accurate, and user-friendly while thwarting fraudsters and dishonest applicants. TurboCheck will deploy authID’s biometric identity verification capabilities to secure candidate vetting and remote onboarding across devices and browsers in a market-leading 700 milliseconds. Seamless identity verification is completed by checking the validity of an identity document such as a driver’s license or passport, then matching a selfie to the credential photo using facial biometrics, giving recruiters and enterprises confidence that they are transacting not just with a real person, but the right person.

“Hiring fraud is an escalating challenge for employers globally, with AI-driven fake identities and deepfake videos becoming more prevalent,” said Emmanuel Toutain, CEO of TurboCheck. “authID’s seamless biometric identity and document verification was far superior in meeting our clients’ demands to verify valid candidates and weed out deepfakes and fraudulent identities with speed, precision, and accuracy. This partnership empowers our clients to detect fraud faster and with greater confidence, fulfilling TurboCheck’s mission to provide vetted, trustworthy candidates.”

Fraudulent candidates using AI-generated fake IDs and deepfake videos are increasingly disrupting online hiring, with 31,200 confirmed cases of employment-identity theft or wage fraud last year. Traditional screening methods are no longer enough to weed out dishonest candidates who waste valuable time and resources, and present considerable risks.

“Today’s job market necessitates that employers vet their prospective hires with one in one billion accuracy and intuitive interfaces, which authID delivers,” said Erick Soto, Chief Product Officer of authID. “Recruiters who can guarantee that their candidates are properly verified prior to their first interaction with a potential employer will have a considerable advantage in attracting the best candidates for their customers. Our industry-leading verification tools allow recruiters to quickly take the guesswork out of their screening process and confidently proceed with genuine candidates.” 

Existing customers already use authID for validating remote and on-site employee access, as well as for candidate certification. The Company is excited to add Turbocheck to its client base and further strengthen the employment verification pipeline from the first interview through onboarding, day one, and day-to-day tasks.   

About authID
authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

About TurboCheck
TurboCheck provides innovative fraud detection and reference checking solutions designed for employers and staffing firms. By offering cutting-edge technology and features like digital identity verification and device fingerprinting, TurboCheck empowers clients to confidently connect with vetted, trustworthy candidates, reducing risks and improving hiring efficiency. Learn more at www.turbocheck.com.

Media Contacts
 Walter Fowler
1-631-334-3864
wfowler@nexttechcomms.com

Investor Relations Contacts
Gateway Group, Inc.
Cody Slach and Alex Thompson
1-949-574-3860
AUID@gateway-grp.com
Investor-Relations@authid.ai

FAQ

What is the purpose of authID's partnership with TurboCheck?

authID (AUID) partnered with TurboCheck to provide biometric identity verification services to combat fraudulent job candidates and employment identity fraud in the staffing and recruiting industry.

How fast can authID (AUID) verify candidate identities?

authID's system can verify candidate identities across devices and browsers in 700 milliseconds, using document validation and facial biometric matching.

How many employment-identity theft cases were reported last year according to authID (AUID)?

According to the press release, there were 31,200 confirmed cases of employment-identity theft or wage fraud reported last year.