One of the major concerns about the growth of online business activity is identity theft, and ideas such as LaunchKey have already offered ways to make logins more secure. But what about companies requiring harder proof before authenticating customers to use their service? Netverify is a new platform that uses laptop webcams or smartphone cameras to confirm users’ identities by scanning official documents in real-time.
Developed by Jumio, the service allows financial institutions, government bodies, recruitment firms and retailers – among others – to capture essential documents for confirming customers’ identities by using technology they already possess. The process can be included as part of registration forms or apps, and simply requires users to hold up the required document – whether a passport, birth certificate or drivers’ licence – to the camera included on their smartphone or notebook. The scan is then encrypted and transmitted securely to the company within a minute, and no record of the document is stored on the device. Using image recognition technology, the system automatically rejects documents that are fake. The video below explains more about the service:
The platform makes registration processes easier and faster for the end-user, making it more likely that they will complete the application and saving time and money for businesses. Above all, it increases security for both parties. Considering that a recent Gartner report predicted that fraud will comprise 1.5 percent of all transactions made on smartphones in the next four or five years, a quick and simple process such as this could make sending money over the web far more secure.
Spotted by: Murray Orange