In the old world, when someone’s identity needs to be verified a face to face meeting needs to take place.
Think of opening like a bank account the traditional way. You have to go there and wait in a queue, only for someone to take a scan of your document. A big waste of time for everyone involved.
In terms of old-fashioned but online methods, there is also the well known scanning and uploading documents.
This is simply not enough to verify anyone, mainly because it’s so easy to cheat.
I could essentially take your documents, upload them, and open an account in your name without any problems.
There’s also another, bigger issue:
It didn’t take more than a month for people to hack it. And they did that with various 2d and 3d masks.
In simple terms, we take the best there is in terms of technology, und use it in the background. But we let real-human verification specialists make the final decision.
So all the face recognition and fancy stuff, it’s still happening in the background, but it’s the presence of a human being that makes our process as accurate as it is. And we do all of that during a live video conversation.
Eliminated fraud and charge backs.
Overall improved customer experience.
Quick customer onboarding resulting in more signups completed and less customers switching.
Bullet-proof customer identity verifications which are the core of KYC, AML, and Customer Due Diligence procedures.