IDnow launches AI-powered ID verification service

IDnow, a provider of KYC and electronic signing solutions today launched the next generation of its identity verification-as-a-service platform that will enable companies to verify the identities of more than 7 billion potential customers online, easily and securely, in compliance with regulatory Know Your Customer (KYC) requirements across Europe and beyond.

The IDnow platform, already trusted by several hundred companies across Europe, including UBS, Commerzbank, and Telefonica, has been significantly enhanced with biometric, computer vision and security fraud detection technologies that gives it the most extensive ID verification capabilities in the market, able to meet more identity verification use cases than any other platform.

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

In addition, the platform meets the business requirements for speedy and simple workflows that reduce customer onboarding friction for non-regulated or lightly regulated sectors such as mobility, travel, recruitment, and the sharing economy.

Unique features include:

The IDnow platform can be easily integrated into a company’s service application and customers can complete an identification check quickly and easily from a smartphone. For industries or countries with more stringent security regulations, the platform will continue to offer video-chat based identity verification.

“As we do more online, digital identities are becoming the new currency, so knowing your customers has become more important than ever, 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, organizations 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.”

Rupert Spiegelberg, CEO, IDnow.

“As a technology company with a full banking license, solarisBank provides banking-as-a-platform to businesses without their own banking license to enable them to offer financial services themselves.  The fact that IDnow had an easy-to-integrate, lean API was a big plus to us. IDnow’s video identification service is fully Know Your Customer (KYC) compliant which helps our customers to fight fraud and onboard customers faster.”

Delia Koenig, senior product manager, solarisBank AG:
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