ShareID provides an Authentication-as-a-Service solution that enables real-time verification of user identities using patented AI-based technology and biometric chain encryption. This service addresses the challenges of identity fraud and inefficient verification processes, achieving a 92% success rate on the first attempt while ensuring the integrity of personal data without storage.
Funding
$2.9M 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.
Founders
Product
Problem
Traditional identity verification processes are often inefficient and vulnerable to fraud, requiring users to complete repetitive tasks and exposing personal data to potential breaches. Existing solutions may lack the ability to ensure the integrity of digital identities in real-time, leading to security concerns and reduced user trust.
Solution
ShareID offers an Authentication-as-a-Service platform that enables real-time, on-demand verification of user identities and sharing of personal information. The platform leverages AI-based document authentication, liveness detection, and biometric chain encryption to ensure the authenticity of digital IDs and prevent fraud. By streamlining the verification process and eliminating the need for personal data storage, ShareID improves user experience, increases conversion rates, and enhances data security. The solution provides a reusable digital identity that users can leverage across multiple applications, reducing repetitive tasks and improving overall efficiency.
Target Audience
ShareID targets businesses and organizations that require secure and efficient identity verification processes, including those in the financial services, e-commerce, and government sectors.
Features
- AI-based document authentication with coverage for over 120 countries
- Liveness detection and anti-spoofing algorithms to prevent fraudulent activities
- Patented technology for digital identity issuance and biometric chain encryption for personal data security
- Real-time verification of digital identity ownership and authenticity
- No personal data storage to ensure user privacy and data security
- SDKs for quick and easy integration into existing applications
- MFA 3.0 solution for streamlined user authentication at each interaction