IDnow expands identity verification platform

IDnow has expanded its identity verification platform to enable companies to verify identities in compliance with Know Your Customer (KYC) requirements across Europe and beyond.

The IDnow platform has been boosted with biometric, computer vision and security fraud detection technologies. It meets the high security and fraud detection requirements of strictly regulated environments for financial services and telecommunications sectors in countries like Germany, Switzerland and other European countries.

IDnow’s platform is also fully compliant with all relevant regulations and directives such as AML regulation, eIDAS, GDPR and PSD2.

Rupert Spiegelberg, CEO, said: “Companies need an easy, trusted and compliant way of finding out who their customers really are and we believe our platform can offer just that. In addition, with full automation and compliance, organisations can rely on one platform for international requests, helping to bridge the gap in the market.

“As an end user, this means no more posting of copies of passport/proof of address, no more having to be present yourself at a physical branch and, for corporate customers, lower costs and higher success in customer acquisition.”

The new features include fully automated ID verification process including facial recognition, Optical Character Recognition and hologram and other anti-fraud detection features.

It also now features video-based agent-assisted ID verification workflow to meet specific regulatory environment requirements and integrated Issuance of Qualified Electronic Signature certificates for E-Sign solution.

Headquartered in Munich, Germany, IDnow claims its Identity-as-a-Service platform can verify the identities of more than 5.1 billion people from 65 different countries in real time.

Its patent-protected video identification and e-signing solutions helps its clients save money, improve customer conversion rates and streamline the onboarding process. Founded in 2014, its clients include international blue chip companies such as Commerzbank, UBS, Sixt, Erste Bank and Telefonica Deutschland, FinTechs like Fidor, N26 and smava as well as many blockchain-based companies.

In March, the company launched a new KYC solution for crypto providers. IDnow Crypto-Ident enables crypto providers to comply with even the strictest regulations while ensuring a state-of-the-art user experience according to the company.

Copyright © 2018 RegTech Analyst

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