Veridas

Veridas, based in Spain, offers a concept called "Phygital identity," which involves the blending of physical and digital verification methods. Its proprietary AI-based automated solutions consist of facial biometrics and voice biometrics for identity verification, identity authentication, and document verification. The Veridas engine processes a facial image by converting it into an irreversible vector, making it irretrievable if the vector is misplaced. The vectors derived from the images are then compared to determine their similarity score. Veridas was ranked the fourth best algorithm (among 150 evaluated) by the US National Institute of Standards and Technology (NIST) in April 2023. It is also one of the few companies to achieve both iBeta Level 1 and Level 2 certifications, which evaluate liveness detection capabilities. As of November 2024, the accuracy of the Veridas facial recognition algorithm was 97.68%.

Key customers and partnerships

In March 2024, Veridas partnered with Stelo.ai, an AI-driven intelligent document processing company, to offer a broader range of identity verification and document processing solutions. As of November 2024, the company served over 250 clients in 25 countries, including the US, the UK, Mexico, and Spain, in the banking, insurance, telecommunications, and public administrations sectors.