SIA New Member Profile: Veridas

New Security Industry Association (SIA) member Veridas develops solutions based on artificial intelligence (AI) so people can verify their identities in an agile and simple way using their biometrics. The company is headquartered in Noáin, Spain, and operates in more than 25 countries, with its main markets in Latin America, the United States, Europe and the United Kingdom.

SIA spoke with Alfonso U. Santos, business development director, Americas, at Veridas, about the company, the security industry and working with SIA.

Tell us the story of your company.

Alfonso U. Santos: The dream of Veridas began  in 2012, when Esteban Morrás and Eduardo Azanza made the determination to establish a worldwide company originating from their home country, aimed at enhancing people’s lives. The core principles were clear: technology, expertise and continuous effort.

Veridas was born with the purpose of guaranteeing people’s right to use their real identities in the digital and physical world.

What solutions/services does your business offer in the security industry? And what makes your offerings or your company unique?

AUS: The solutions provided by Veridas improve the lives of individuals by allowing them to verify their identity remotely and in less than three seconds. This is the case for Mexican retirees using our voice authentication tool to make the proof of life on a monthly basis, travelers crossing the Zambian border using our patented biometric QR code and the multitude of U.S. banking customers who can open their bank accounts using a selfie.

Veridas allows customers the following:

• Verifies identities, certifying that the individual claiming the identity is the valid owner of that identity and is genuinely present during the digital  process
• Authenticates identities, both physically and digitally, providing real-time corroboration of an identity claim by a person already known by an organization

We build our Phygital Identity Platform on AI-driven, 100% proprietary, fully automated and easy-to-deploy software-as-a-service-based solutions.

To do so, Veridas offers voice biometric authentication, facial biometric authentication, facial physical and logical access solution, digital onboarding and age verification.

What is something we might not know about your company – or something new you are doing in security?

AUS: Veridas performed more than 100 million identity verification processes in 2022. Veridas develops 100% proprietary, world-class technology. We have a strong IP portfolio: 24 patents and trademarks granted in Europe, the U.S. and Latin America. We have more 200 employees worldwide, with offices in Spain, Mexico, United States, the United Kingdom and Italy.

Every second, someone performs a remote identity verification process worldwide using Veridas technology. Every second, someone authenticates and gets through a Veridas facial recognition terminal worldwide.

What is your company’s vision, and what are your goals for the security industry?

AUS: At Veridas, we firmly believe that the security industry is currently on the brink of transformative opportunities that will shape the way we safeguard our digital world. Our vision at Veridas extends beyond the present challenges, towards a future that is both passwordless and keyless. We envision a world where individuals are recognized not by cumbersome passwords or vulnerable keys, nor physical credentials, but privately, securely and voluntarily for who they truly are.

What do you think are the biggest opportunities in the security industry right now?

AUS: At Veridas, we believe that the security industry is currently presented with a multitude of exciting opportunities. First and foremost, the field of cybersecurity remains a paramount concern as our digital landscape continues to expand. Ensuring the protection of sensitive information and critical infrastructure from cybersecurity threats is a top priority. Additionally, the convergence of technology opens avenues for growth in AI and machine learning (ML) security, where advanced algorithms can be harnessed to detect and thwart emerging threats in real time.

Cloud technology has revolutionized how businesses operate, but it also introduces new security challenges. Consequently, there’s an increasing demand for professionals who can fortify cloud environments against breaches and data leaks. Furthermore, the proliferation of Internet of Things (IoT) devices offers immense potential, yet securing interconnected networks becomes essential to prevent potential vulnerabilities from being exploited.

One of the most promising areas of opportunity lies in biometrics. The ability to uniquely identify individuals through their biological traits not only enhances security, but also streamlines user experience. Veridas, as a pioneer in biometric solutions, recognizes the potential of biometrics in revolutionizing identity verification and access control.

In essence, the security industry is at an intriguing crossroads, with cybersecurity, AI and ML security, cloud, IoT and biometrics standing out as the major focal points. By addressing these challenges and opportunities, we can collectively pave the way for a more secure and technologically advanced future.

What are your predictions for the security industry in the short and long term?

AUS: In the short term, the security industry is poised for substantial biometric advancements, marked by the widespread adoption of facial recognition, fingerprint or iris scanning, and voice authentication. This transformation will span into various sectors, including finance, retail, telecommunications, sports, insurance and more. Notably, this evolution will facilitate the convergence of the physical and digital realms, encouraging interconnected technologies.

In the long term, biometrics is destined to establish itself as the gold standard for identity verification, progressively supplanting conventional access methods like passwords. These biometric systems will undergo a continuous refinement, harnessing the power of AI and machine learning to boost precision and to fortify resilience against fraudulent activities. Simultaneously, the industry will address privacy concerns and ethical considerations, ensuring responsible biometric data usage. Overall, the security sector is set to shape a future characterized by secure, seamless and user-centric biometric authentication solutions.

What does SIA offer that is most important to you/your company? And what do you most hope to get out of your membership with SIA?

AUS: For Veridas, SIA offers a valuable platform for networking and collaboration within the security industry. SIA provides access to critical information, industry insights and standards that are crucial for Veridas in developing cutting-edge identity and security solutions.

Veridas will leverage on SIA’s influential events and advocacy to shape policies and regulations favoring ethical and responsible use of biometrics and security technologies.

In return, Veridas can offer its expertise in biometrics and identity verification to SIA. Veridas’ innovative solutions and experience can serve as a valuable resource for SIA members seeking to understand and implement biometric technologies effectively and ethically. This mutually beneficial relationship allows SIA to tap into Veridas’ specialized knowledge while Veridas gains access to a broader industry network and resources.

Overall, SIA membership enables Veridas to stay at the forefront of industry developments and foster partnerships essential for its growth and influence. Together, they can work towards advancing the industry’s capabilities and promoting responsible use of security technologies.

The views and opinions expressed in guest posts and/or profiles are those of the authors or sources and do not necessarily reflect the official policy or position of the Security Industry Association.