IDnow offers an Identity Verification-as-a-Service platform that utilizes machine learning for automated identity verification and expert-led video verification. This technology enables businesses to efficiently verify customer identities while ensuring compliance with regulatory standards and enhancing security against fraud.
Funding
$119.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BEIPAFounders
Product
Problem
Businesses face increasing challenges in verifying customer identities online, balancing the need for seamless user experiences with stringent regulatory compliance and the growing threat of fraud. Traditional methods are often cumbersome, slow, and expensive, leading to customer drop-off and operational inefficiencies.
Solution
IDnow provides a comprehensive Identity Verification-as-a-Service (IVaaS) platform that streamlines the identity verification process, enabling businesses to onboard customers quickly and securely. The platform offers a range of solutions, including automated identity verification, expert-led video verification, in-person verification, and digital signatures, all designed to meet diverse business needs and regulatory requirements. By leveraging machine learning and advanced security measures, IDnow helps businesses mitigate fraud, reduce operational costs, and enhance customer satisfaction. The modular platform allows for customized workflows and integrations, ensuring a seamless and compliant onboarding experience.
Target Audience
IDnow primarily serves businesses in regulated industries such as banking, finance, insurance, telecommunications, and gaming, as well as any organization that requires secure and compliant customer onboarding processes.
Features
- Automated identity verification using AI-powered document analysis and facial recognition
- Expert-led video verification for enhanced security and compliance requirements
- In-person verification options for scenarios requiring physical presence
- Digital signature solutions compliant with eIDAS regulations for secure document signing
- Comprehensive fraud prevention tools, including real-time risk assessment and anomaly detection
- Customizable workflows to adapt to specific business processes and regulatory frameworks
- Seamless integration with existing systems via APIs and SDKs
- 24/7 availability and global coverage, supporting a wide range of identity documents and languages