IDnow Releases AI-powered Blockchain-Based ID Verification Service
A firm that specializes in the provision of Know Your Customer (KYC) and automated signing solutions unveiled its upcoming identity authentication as a service stand which will assist firms in verifying the identities of over seven billion prospective clients online. This will ensure that the process is stress-free, safe, and done in compliance with supervisory KYC requirements all over Europe as well as other parts of the world.
This just happened. @IDnowGmbH launches its next generation ID Verification-as-a-Service solution that meets compliance standards across more jurisdictions than any other platform. #KYC #facerecognition #AML #digitalidentity #AI #fintech #regtechhttps://t.co/NaN7JIOc4Y pic.twitter.com/m3HpfNVtbA
— IDnow (@IDnowGmbH) September 6, 2018
The IDnow stand has been embraced by several firms all over Europe. This include notable firms like UBS, Telefonica, Commerzbank, among others who use it due to its augmented biometric and computer vision.
As a result it makes it simple for companies to detect any forms of fraud, thus giving it the most wide-ranging ID authentication capabilities available in the market today. In many ways, the platform has the capacity to meet more identity certification use cases when compared to other platforms.
Meeting High Safety Standards
IDnow platform also meets the high safety and deceit recognition requirements which are stringently synchronized by fiscal services and cable sectors in many countries in Europe. The platform is also in full compliance with all the relevant supervisory conditions as well as directives like AML, regulation, GDPR, and PSD2.
Additionally, the platform is compliant with the corporate requirements for quick and simple workflows which lessen client onboarding resistance for non-regulated or lightly regulated sectors of the economy such as travel, recruitment, and mobility segments.
Some Of The Exceptional Features Of The Platform
- Presence of a completely computerized authentication process which is comprised of anti-fraud recognition structures, face pack recognition, and visual personality recognition.
- Video-based agent aided ID authentication workflow to comply with the particular environment needs.
It is also worth noting that the IDnow stand can easily be incorporated into a firm’s service application. This therefore assists clients to successfully go through an identification check as fast as possible, even from the comfort of their smartphones. For those parts of the world where there are very strict security controls, the platforms works to offer video-chat based identity authentication.
Virtual Identities Have Become The New Currency
According to Rupert Spiegelberg,
“as a result of the rise in online activities all over the world, digital identities have suddenly become the innovative currency. Consequently, it has become very important for companies to know their clients. In this regard, this needs to be a simple, dependable, and compliant process of identifying the authenticity of the customer.”
Rupert believes that the platform has all it takes to do this. Additionally, with complete computerization and compliance, firms can depend on the platform for global requests, thus assisting people to link the dots in the market.
Achieving Higher Success In Client Acquisition
On the other hand, the end user is no longer required to post copies of their documents or proofs of address. They also do not need to present themselves at any physical branch. As for the corporate clients, the platform ensures that they do spend less achieve higher success in client acquisition.