Last year, Jumio made the headlines for its image recognition system Netswipe, which uses the camera as a payments tool. The merchant trains their viewfinder on the plastic card to register the details automatically. The user just has to enter their PIN code to complete the payment.
Now, Jumio is building on the fundamentals of this tech to release Netverify. It does the same but for identity documents in over 60 countries.
At present most of these authentications are done using human resources, with documents sent by post or fax. It all takes ages and costs a lot. Jumio clearly hopes that it can license Netverify to these organisations and save them time and money.
It also aims to combat fraud and boost overall conversions.
Netverify can work from a phone or web camera, and its scanning technology does not require any additional hardware. It is implemented using the Netverify Mobile SDK.
“With fraud becoming rampant on mobile, businesses need the tools to both know and help protect their customers, while also providing them a more convenient way to verify their identities,” said Daniel Mattes, CEO and founder of Jumio.
“Now businesses can move from taking days to verify a customer’s identity to immediately authenticating a users’ ID, transforming what has traditionally been a complex and costly process — ID verification — into an almost instantaneous transaction on both mobile and the Web.”
One of the first brands to use it is peer-to-peer ride-sharing company SideCar, whose CFO and Head of Operations, Nick Allen, said: “Now, our mobile customers can sign up for ride-sharing and be approved in minutes — inclusive of ID verification — without having to endure processing times of hours or days as is the norm with standard ID verification processes.”