Digital Insurance Agenda

IDnow AutoIdent: Making the connected world a safer place

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Dec 4, 2019

IDnow is a leading provider of Identity Verification-as-a-Service (“IVAAS”) solutions. IDnow solutions guarantee legal security throughout Europe and the highest level of data security. In the area of video identification of customers and electronic signatures, IDnow was the first to provide the market with a legally secure solution without additional hardware. IDnows offer is directed at all business customers who would like to provide customer identification and contract conclusion online, such as banks, insurance, telecommunications companies, Fintechs, etc. The customer portfolio includes renowned firms such as Commerzbank, UBS, Sixt neuwagen, Telefónica and N26.

The intuitive AI-powered solution of IDnow enables users to quickly and dependably verify their ID. Deep ID recognition intelligence ensures highly effective authentication and total compliance with KYC requirements. AutoIdent provides robust fraud prevention in conjunction with unparalleled conversion rates and comprehensive compliance. The hybrid identity verification solution combines the best of humans and machines. IDnow leverages state-of-the-art machine learning technology and a network of identity and fraud specialists to enable increased onboarding rates,  while keeping fraudsters at bay.

 

How it works
        
IDnow is the Identity Verification Platform for the ‘Now Economy’. With the AI-based solution AutoIdent, customers will be verified with three easy steps:
1. Recognize customer´s ID document: Easy-to-follow on-screen prompts for best-in-class conversion rates (Graphic 1)
2. Verifies Person: Made simple by means of a familiar selfie-style tool (Graphic 2)
3. Automated extraction of data: Verification of customer´s identity with results typically available in real-time (Graphic 3)

AutoIdent is the fastest way to verify customer’s identity: Easy-to-follow on-screen prompts enable best-in-class conversion rates. The verification process is made simple utilizing a familiar selfie-style tool. The AI-based algorithms beat even best-trained human agents and make 24/7 verification of customer identities possible , all within only a couple of seconds.

 

Why we selected IDnow for DIA Munich
IDnow builds world-class, AI-powered identity verification technologies that address the cybersecurity and digital verification needs of global enterprises by combining seamless, online-only infrastructure with a strong level of security and identity fraud prevention. With IDnow’s  video identification and e-signing solutions clients are able to save money, improve customer conversion rates and streamline the onboarding process

At DIA Munich Björn Hundhausen, Inside Sales Manager, and Eike Müller, Senior Sales Manager, will present a demo of IDnows AutoIdent solution.

Check out their live demo here:
https://www.digitalinsuranceagenda.com/dia-tv/video/autoident-automatic-detection-of-the-id-document/​

Who is IDnow ?
Founded in 2014, they already count a large and fast growing team of over 300, making them one of Europe’s fastest growing fintechs.

They are backed by the venture capital investors BayBG, Seventure Partner and Jet A and a consortium of well-known business angels. In October 2019 they announced a $40 million growth equity investment from Corsair Capital LLC (“Corsair”), one of the longest-standing private equity firms focused on the financial and business services industries. Corsair’s investment will support IDnow as it expands its product range and captures greater market share throughout Europe, with immediate plans to open new offices in France and the UK.

Our goal is to provide our customers with comprehensive support in the area of digital identity and secure growth. Therefore we are constantly expanding our product portfolio. From the very beginning, we have proven that our very high investment in product and technology enables us to permanently establish leading solutions in the market. This is impressive evidence of our retention rate. The product roadmap, for which we are working closely with our customers, is very ambitious.”

https://www.idnow.io 

 

 

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