Netverify® – AI-Powered Digital Identity Verification
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Netverify® - AI-Powered Digital Identity Verification
|Company (that provides the nominated product / solution / service)||Jumio|
|Company size (employees)||1,000 to 4,999|
|Type of solution||Hybrid|
In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:
- Machine Learning: Machine learning (ML) for online identity verification relies on having a large database of good and bad (i.e. fraudulent) transactions. The larger the dataset, the smarter the algorithms. Because of its history with some of the largest global brands, Jumio has a significant head start on its competition, using its database of 150-million plus online verifications to better train its ML algorithms.
- Liveness Detection: Jumio leverates 3D Liveness Detection to better thwart fraudsters who are increasingly using spoofing attacks by using a photo, video or a different substitute for an authorized person’s face to acquire someone else’s privileges or access rights. This technology also thwarts fraudsters’ attempts to take on another individual’s identity within mobile SDK implementations. Jumio’s new Liveness Detection asks the users to take two selfies: one about 12 inches away and another closer up, around 6 inches from the smartphone. In addition to its anti-spoofing detection capabilities, Jumio’s liveness detection offers some very tangible benefits in terms of a more streamlined user experience and omnichannel support. This liveness detection functionality improves the quality of Jumio’s identity verification process which, in turn, provides a better onboarding experience and dramatically reduces the number of manual reviews performed by our business customers.
- Augmented intelligence: Augmented intelligence is an alternative conceptualization of artificial intelligence that focuses on AI’s assisted role to enhance human intelligence, rather than replace it. Because of Jumio’s rich history and massive database of online identity verifications, we have developed (and continue to refine) smarter, better-informed algorithms that tell us whether a government-issued ID is authentic and hasn’t been doctored or digitally manipulated. Since Jumio also relies on human review, augmented intelligence with its built-in feedback loop, is helping us extend our lead as the most accurate identity verification solution on the market.
Because of Jumio’s experience, volume of identity verifications, and augmented intelligence, Jumio has developed smarter, better-informed algorithms that tell us whether a government-issued ID is authentic and hasn’t been digitally manipulated.
Machine learning (ML) for online identity verification relies on having a large database of good and bad (i.e. fraudulent) transactions. The larger the dataset, the smarter the algorithms. Because of its history with some of the largest global brands, Jumio has a head start on its competition, using its database of 150-million plus online verifications to better train its ML algorithms.
Artificial intelligence has already been productionalized to reduce the time it takes to verify an ID document or an online identity by almost 10% which is helping Jumio’s customers reduce their abandonment rates and increase new account conversions.
Jumio has also modified its AI algorithms to become GDPR compliant to adhere to GDPR’s strict data protection requirements. Many identity verification vendors aggregate data across multiple customers to develop their ML algorithms. Jumio, in contrast, has developed bespoke AI models trained on the data of a given customer. Jumio’s compliant machine learning approach builds in data privacy and security at every stage of the machine learning workflow including initial data capture, ID preprocessing, data tagging, algorithm training and model deployment.
To expand and accelerate its investment in AI, Jumio launched Jumio AI Labs in Montreal in 2018. The office expands on innovation driven by Jumio’s Vienna-based AI team by building production models that perform three vital functions related to online identity verification: data extraction, fraud detection and risk scoring. Jumio’s AI Labs are developing deep learning models designed to dramatically improve identity verification accuracy and verification speed.
These collective investments have helped the company deliver on its important mission to become the global leader in AI-powered identity verification.