Checkout.com, a global payment solutions provider, has launched Identity, its first product focused on improving the customer onboarding and identity verification process, and expanding Checkout.com’s impact on customers’ digital experiences. Release Verification.
Identity Verification is powered by proprietary artificial intelligence, trained on billions of identity and facial recognition documents. Built for companies such as fintechs, rental and employment companies, gaming, and government agencies, Identity Verification helps you grow your business by enabling a smooth, compliant and fast customer verification process. Checkout.com Identity Verification is built on a huge list of identity documents from 195 countries, allowing us to verify almost every citizen in the world. In beta alone, we verified over 10 million identities and identified over 1 million fraudulent identities.
Improve customer journeys with AI-supported video streaming
Identity fraud is evolving, and deepfakes and deceptive documents are becoming more sophisticated. Single-frame photos often fail due to poor quality or are managed by systems that are unable to keep up with new types of fraud. Checkout.com Identity Verification solves this problem with 25 fps, 1000 images/flow video streaming. Using the mobile phone’s video mode, customers show their ID and their face while advanced AI guides the user through the entire process, demonstrating document authenticity and AI recognizing facial movements and provide live feedback on how you can help fight cheating. It also notifies users if the document they are scanning is invalid, i.e. wrong passport or driver’s license.
Melon Korbesi
“The digital economy enables instant access to products, services and outcomes, and identity verification is no exception. We deeply believe in the intersection of digital payments and online identity verification. Legacy systems that require commitments to or are restricted to certain days of the week are not conducive to the long-term growth of the digital economy: AI and algorithms trained on billions of data points Combined with a video stream that requires only an internet connection, we are now able to securely verify identity and facilitate customer onboarding from anywhere in the world.”
Meron Colbeci, Chief Product Officer at Checkout.com said:
Checkout.com ID Verification removes the complexity of requiring specific app or software compatibility and allows users to verify their identity anytime, anywhere with just an internet connection. Businesses can direct users to an interface with their logo and branding, facilitating a seamless experience within 120 seconds. The company is now able to onboard users 24/7 without human intervention while building trust in the brand.
Overcoming identity fraud with AI and machine learning
Identity Verification’s AI can quickly verify your authentic identity across over 3,000 identification documents. By moving the ID over the video, AI can monitor holograms, color shifts, transparency and opacity common to most documents. A user performs a series of short, simple facial movements, and the AI can quickly identify potential deepfakes or fraudulent IDs.
Platform start-to-completion verification time is 120 seconds for 90% of users. 70% of identities are verified within 20 seconds of him, and identities that fail to be verified within that time are handed over to a specialized team for systematic human review. These professionals are trained by customs officers on the security features of identification documents and how to evaluate face matches. To date, Identity Verification has identified over 1 million fraudulent identities in beta alone.
Featured image credits and edited from Checkout.com
