User of its solution since the Covid-19 crisis, Bpifrance has just invested 4 million euros in Ubble, a start-up specialized in remote identity verification. The investment was made in convertible bonds through the Digital Venture fund. This new endowment is in addition to the 10 million euros that Ubble already collected in June 2020 from Partech and Breega.
Fight against identity theft
Ubble was founded by François Wyss (ex Google), Juliette Delanoë (ex Gemalto) and Nicolas Debernardi (ex Citreo) in 2018. It is at the origin of an identity verification system to fight against theft and fraud. Thanks to real-time video recognition, you can attest to the match between an identity document and a person’s face.
Specifically, users are invited to send a live video of their face and identity document. The video stream is analyzed to verify the authenticity of the person and their identity document. Then, the Ubble experts validate the analysis results. It is this hybrid system, between automation and human verification, which guarantees high reliability, according to the young outbreak.
Banks and insurance as main beneficiaries
Originally, this solution, which takes 10 business days to implement, was aimed more particularly at banks and insurance companies. They must comply with a series of obligations, such as the KYC (Know Your Customer) process aimed at combating money laundering. As such, Sofinco (Credit Agricole) uses Ubble, for example.
Today, the start-up has conquered other sectors such as transport, electronic signatures and even food delivery. His client portfolio includes Vybe, Yousign, Heetch, Bolt, Virtuo, Frichti, and even Stuart. In total, it has around fifty clients in France and Europe.
Therefore, the use cases are quite diverse. Bpifrance, for example, integrated Ubble’s solution during the Covid-19 crisis into “an automated credit platform” to “verify the identity of loan applicants completely remotely.” The solution was integrated as an API on the website of the public bank. In this way, tens of thousands of identity checks have been carried out.
A sovereign solution as a flagship argument
Ubble prides itself on being a sovereign solution. A key argument in particular in the sensitive sector of identity, a sovereign monopoly in principle. In fact, you chose 3DS Outscale to host your data. The Dassault Systèmes subsidiary is labeled “SecNumCloud”, awarded by the National Information Systems Security Agency (Anssi), which guarantees a cloud environment that respects personal data and offers the highest level of security.
Ubble is also in the process of being certified as “remote identity verification providers” (PVID) by Anssi. The objective of this standard is to easily identify service providers that provide a remote identity verification service that can demonstrate a substantial or high level of assurance. To date, no service provider has been selected, but several are in the certification process, such as AriadNext, Idnow, or even QuickSign.
A market in full structuring
Therefore, Ubble has to face a competitive market where partnerships such as IDnow and Ariadnext are being forged. The two companies announced in June 2021 a merger to launch a European platform for digital identity verification. Ariadnext has also launched its Yris application to verify your identity to connect to the national portal FranceConnect.
The need for an identity verification service has increased in recent years and, in particular, since the Covid-19 pandemic. A theme taken up by the European Commission, which presented its strategy in June 2021 with the aim of providing all citizens and companies with a portfolio of digital identity.
Ubble is made up of 60 employees located in Paris. It was selected as a promising startup at an International Cybersecurity Forum (FIC) in Lille in September 2021.
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