“Identity Verification,” a new product from global payment solutions provider Checkout.com, streamlines customer onboarding and ID verification.
Checkout.com, a supplier of global payment solutions, has introduced “Identity Verification,” a new tool, to streamline the customer onboarding and ID verification procedure. Checkout.com used billions of identity and facial recognition documents to train the product, and the new launch also makes use of exclusive artificial intelligence (AI). In order to combat ID fraud, the Identity Verification product was made available to fintechs, rental and hiring businesses, gambling organizations, and government agencies.
Identity Verification provides a speedy, frictionless, and compliant client verification procedure that aids in business scaling.
Identity Verification, created using a broad range of identification documents from 195 nations, has the ability to authenticate almost all of the world’s citizens, according to Checkout.com. Over 10 million identities were confirmed and over 1 million false identities were found in just its beta version.
Senior operations manager at Uber Eats Baptiste Foulon talked about how the product may improve the company’s own offerings. In order to ensure the legitimacy of every document submitted and the greatest delivery experience for all independent delivery drivers using the Uber Eats app, he said: “We’re delighted to be working with the Checkout.com Identity Verification teams to take full advantage of their expertise.”
Eliminating deep fakes
Identity theft is still expanding and changing. Deep fakes and dishonest documents in particular have become more sophisticated, but Checkout.com’s newest product tries to combat this.
Customers now exhibit an identity document and their face using video mode on a mobile device as the powerful AI walks them through the process, giving them real-time feedback on how to demonstrate the authenticity of the document and move their face so the AI can recognize them to prevent fraud. Users can also learn if the paper they are scanning is fake thanks to Identity Verification.
Checkout.com’s chief product officer, Meron Colbeci, stated: “We firmly believe in the convergence of online identity verification and digital payments. Legacy technologies that require a human appointment or are only available on specific days of the week do not support the long-term expansion of the digital economy.
We can now verify identity documents to speed up customer onboarding and accurately comply with KYC regulations by using AI and algorithms trained on billions of data points together with a video stream that only needs an internet connection.
Identity Verification uses AI and machine learning extensively to verify the authenticity of identity documents.With more than 3000 different identity documents, the product’s AI can authenticate identities. The AI can track common hologram and color changes in most papers, as well as transparency and opacity, by moving the identification document on the video. The AI can instantly detect potential deep fakes or false identity documents by having the user make a series of brief and simple face movements.
