![]() ![]() The company in its press release also noted that “Solutions like InControl for Business and IDCM that are built on Mastercard’s APIs demonstrate the possibilities for the future of Open Finance”. This solution has an implementation in a variety of verifications based on biometrics and other use cases. This solution is being provided to European issuers to make biometric authentication available to their clients on remote card transactions to authorise their online payments. Identity Check Mobile (IDCM) is a ‘biometric recognition platform that allows banks and financial institutions to provide their end customers with secure biometric services such as face ID, touch ID and voice recognition’ and this can be embedded within an application and also available as SDK. The company claims that this provides businesses ‘convenience, security and control to business owners allowing them to spend smarter’. It also allows businesses to set a profile for a group of users, set limits and restrict the frequency and nature of card use. The company notes that the key functionality of the former solution is that the businesses can control the use of ‘company credit and debit cards issued to employees for expenses and business costs. Banks can either choose to incorporate these APIs themselves but Fabrick’s solution integrates ‘the APIs reducing the technical burden and easing adoption’ and the platform is fully customizable that is integrated with the main payments network. The company notes that new solutions can be readily adopted by banks, fintechs and enterprises by ‘removing friction through Fabrick’s Open Finance platform and simplifying time-to-market’.Īccording to the press note, Controls for Business is a solution which the company has developed based on a set of APIs Mastercard called InControl. This week, Italy-based open banking platform company Fabrick has unveiled a suite of solutions that harness Mastercard’s APIs- InControl for Business and Identity Check Mobile (IDCM). Collaboration between fintechs and established commercial payment companies has helped businesses who are joining the digitisation wave as it helps in better infrastructure, digital-first products and better cost-effective products and services. ![]()
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