Identity verification for fintech businesses
Verify identity remotely without sacrificing the customer experience.
Digital identity verification for fintech
Meet compliance standards with a streamlined customer onboarding experience
Catch fake IDs
Our 2D barcode analysis and OCR tools detect suspicious documents.
Reduce friction
Embed our digital identity verification seamlessly inside your application.
Face match selfie
Match the face in the ID photo to the customer using a guided selfie video.
KYC/AML
Check each customer against OFAC, PEP, sanctions lists.
10,700 document types
Verify customers from around the world with global document coverage.
Reduce identity fraud
Multiple layers of security deter fraudsters and criminals.
The growing threat of fintech fraud
The growing fintech industry is a hot target for fraudsters and criminals.
FTC estimate on total fintech fraud annually, up 44% from 2021.
Average share of total fintech revenue lost to fraud annually.
Small fintech firms lose 57% more than larger businesses.
Fintech
Remote ID validation
Our software starts by using optical character recognition (OCR) to read the data on the front of the ID, and match the ID format against our AI-powered validation engine.
We then parse the back of the identity document and check that the data is a match. We also perform more than 75 algorithmic checks to look for known “tells” that may indicate an ID is fake.
- OCR reading of ID text
- Front/back matching
- 2D barcode security checks
- Scan using customer device
What sets our remote ID validation apart
We pride ourselves on catching the most fake IDs to prevent fintech fraud.
2D barcode security
We check each ID against our template library and AI-algorithms to detect up to 50% of fake IDs from a barcode scan alone.
No per-scan cost
Because we own our own document library, there is no per-scan cost for remote ID validation of North American documents.
Superior OCR
Our OCR is capable of reading and ingesting all text from a document, and instantly compare it to the information in the barcode/MRZ.
Speedy results
Our remote ID validation is lightning fast, which means a smooth, efficient experience for your end customers – no added friction.
Fintech
Identity proofing
Next, the software accesses the front-facing camera on the customer’s mobile device and opens a window with a framed selfie.
Our software guides the customer through several randomized anti-spoofing exercises to confirm liveness, and creates a 3D mesh model of the customer’s face.
Then the mesh model is compared to the face in the ID photo to confirm identity.
- Anti-spoofing
- Prevent 3D mask attacks
- Prevent photo, replay attacks
- Liveness checks
Add third party checks
After the ID has been validated, and identity confirmed via face match, fintech businesses can layer on additional checks to meet the highest KYC/AML standards.
DMV Database Checks
Check customer identity against DMV databases in all available states to confirm ID issuance.
IdentiFraud Checks
Check identity against known fraud lists, utility records, and public service records.
Criminal Background Checks
Query court records across the US to perform a criminal background check against a scanned ID.
SSA Checks
Query the Social Security Administration for a federal level identity check.
OFAC/PEP List Checks
Check customers against the OFAC, PEP, and sanctions lists for KYC/AML compliance.
Looking to integrate custom lists or other data sources?
Learn how a growing regional bank stopped new account fraud with a layer approach to fintech identity verification.
Have questions about identity verification for fintech?
Our team can help your banking or fintech business find a flexible, affordable identity verification solution.
