Veriff Enhances its Fully Automated ID Verification Product

Published 7 months ago

Global identity verification (IDV) provider, Veriff, has announced major updates to its fully automated IDV product. The solution, leveraging advanced machine learning, facilitates a 100% automated identity verification process, eliminating the need for human intervention.

Fast and Insightful IDV Solution

The enhanced IDV solution provides customers with a quick method for validating user identities. It also offers in-depth insights related to the verification session, enabling organizations to make well-informed onboarding decisions. The solution boasts of decision speed, delivering results in just five seconds. This makes it an ideal fit for risk-tolerant businesses seeking high conversion rates for onboarding new customers.

The latest version of the solution offers a faster response time, and each verification session includes a decision, decision score, and additional insights. These insights detail the events within the verification session, providing valuable information points that customers can utilize to shape their onboarding decision-making process.

Suvrat Joshi, Senior Vice President of Product at Veriff, stated that the solution is perfect for businesses that need quick speed, high conversion, and detailed session insights to offer their customers an added layer of security.

Enhancements to Veriff’s Core IDV Offering

The recent automation advancements made to the fully automatic solution also improve Veriff’s core identity verification offering. Veriff offers two approaches to Identity and Document Verification: a fully automated solution and a hybrid solution. The automation improvements made to the core IDV technology are beneficial to both the fully automatic and the hybrid offering.

The hybrid option, although highly automated, is backed by highly trained verification specialists. This option provides greater flexibility, higher fraud prevention, and accuracy, as well as more risk insights.

Related news