Veriff, the global identity verification (IDV) provider, has announced a substantial upgrade to its fully automated IDV product.
Leveraging cutting-edge machine learning technology, this enhanced solution is set to revolutionise the identity verification process by enabling a 100% automated verification process without any human intervention.
Building upon the previous iterations, the improved solution now offers even faster response times. Each verification session generates a decision score and provides an array of additional insights. These insights offer a detailed overview of the verification session, equipping customers with valuable data to enhance their onboarding decision-making process.
The primary motivation behind this new product is to provide businesses with a swift and efficient means of validating user identities while furnishing comprehensive insights that can aid organisations in making more informed decisions during the onboarding process.
This updated solution prioritises decision speed, delivering results in just five seconds, and boasts an unparalleled conversion rate, making it particularly well-suited for businesses with a high risk tolerance.
To cater to the unique needs of its customers, Veriff offers two distinct approaches to Identity and Document Verification: a fully automated solution and a hybrid solution. The automation enhancements brought to the core IDV technology enhance both the fully automatic and hybrid offerings, providing added value to a broad spectrum of customers. The hybrid option combines automation with the expertise of highly trained verification specialists, offering greater flexibility, heightened fraud prevention, accuracy, and more in-depth risk insights.
Suvrat Joshi, Senior Vice President of Product at Veriff, said, “This solution is ideal for businesses that require the fastest speed, highest conversion, and detailed session insights to provide their customers an extra layer of security. The great news for all our customers is that the automation advancements made to the fully automatic solution also enhance Veriff’s core identity verification offering.”
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