In a world where proof of identity has become essential for the processing of online transactions as well as access to goods and services, identity (ID) verification has never been more important. Across businesses in banking and finance, airline and travel as well as retail, digital ID verification and facial recognition are integral in sensitive processes such as enrolment and registration.
With more and more consumers using smart phones to manage their finances as well as access goods and services, there is an opportunity for criminals to tamper or fake documents for identity fraud. For this reason financial service providers, online payment services, and money transfer platforms must be resolute in their efforts to stop fraud and meet Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance requirements through leveraging digital ID verification.
IDentify+ provides financial institutions and online businesses a quick and simple way for customers to instantly verify their identities and other credentials for regulatory compliance. It turns customers’ smart-phones or computers into an ID scanning terminal that can easily verify ID and other credentials to meet KYC requirements and ensure customers are onboarded quickly and securely.
As a cloud-based platform, IDentify+ instantly extracts data from government issued ID documents such as driver licenses, passports, and national IDs. It then auto-populates the information into the transaction forms while validating it against set regulatory policies.
IDentify+ is an innovative, cloud-based ID verification cloud platform powered by CumulusPro. It delivers a fast and simple customer onboarding experience, reduces fraud and expedites regulatory compliance.The benefits of IDentify+ are:
- ID verification and facial recognition work together to ensure compliance and curtail many types of fraud
- ID capture for frictionless form prefill for quick and efficient onboarding
- Facial recognition ensures applicant in possession is the owner of the ID
- A.I. extraction engine prefills forms with data from driver licenses, national IDs, passports in real time
- Liveness detection can differentiate between a live picture and a video
- The ID Verification KYC software can also be easily integrated into any mobile app (iOS or Android) with the help of IDentify+ Mobile SDK.
For more information, visit Cumuluspro.com/solutions/identify-plus/
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