SEAF Morocco Growth Fund invests in cybersecurity company
The SEAF Morocco Growth Fund (SMGF) has just finalised its sixth investment with the acquisition of a stake in Deepsense, a biometrics security company providing an instant identity verification solution that detects online fraud attempts and spoofing attacks, such as mask attacks and deepfakes.
With the digitalisation of services, the reliability of remote authentication and identity verification is becoming a major issue. A wide variety of activities, such as opening a bank account, carrying out a transaction, signing a contract, and accessing online public services can now all be carried out remotely online. There is a growing need for multi-factor authentication systems based on facial biometrics in response to the corresponding increased risks of online identity fraud.
Deepsense’s instant identity verification solution is based on a proprietary and patented biometric-based passive liveness detection technology that identifies the user’s heartbeat via a camera on his smartphone or computer. The technology, which works with any type of camera and smartphone, is based on artificial intelligence algorithms that allow user authentication and detect any type of attack and fraud.
The Deepsense solution – compliant with all applicable regulations and respectful of personal data – does not require any user action during verification. The user is prompted to take a live video of his face that lasts one second. The recordings are then analysed in real-time by algorithms that perform liveness detection and facial recognition.
“We are delighted with our investment in Deepsense, which brings a unique biometric-based identity verification technology that is particularly relevant in a context where the Covid-19 pandemic is accelerating the digitisation of both public and private services. Attracting this profile of entrepreneurs and technological assets generates significant impact for Morocco in terms of job creation and access to advanced technology, capable of strengthening the digitalisation of services and digital security,” said Meriem Zairi, managing director of the SEAF Morocco Growth Fund.
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