IDnow launches AI-powered ID verification-as-a-service platform

IDnow, nominated to the 2018 FinTech50 list of hottest European start-ups, has 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 company said.

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.

Founded in 2014, IDnow provides the world´s most advanced machine-learning technology for its Identity-as-a-Service platform that can verify in real time the identities of more than 7 billion potential customers from 193 different countries. Its patent-protected auto and video identification and e-signing solutions help its clients save money, improve customer conversion rates and streamline the onboarding process.