End users might just see technology available nowadays as making the job of data entry easier (though few argue that it is easy to type), but in fact, a company is working towards finding a way to reduce fraud on the internet. Fraud is increasing more on mobile now, as of the relative newness of a platform. Gartner report estimates that 1.5% of all type of mobile transactions over next few years is predicted to be fraudulent. The problem that needs to be solved is that how we validate that you’re you. That affects all internet users across different type of applications.
With Jumio, the verification process is now effective and simple. All customer has to do is scan photo ID using a camera on their mobile or PC device. Computer vision technology is being used in Netverify extracts the data of the customer from their ID that they are showing to the camera. Biometric Facial Recognition technology in Jumio product then captures the face of the applicant through a selfie, assisting to make sure the individual who submits photo ID is the owner of that document as well. Technology is capable of choosing even slightest facial movement, making sure that picture-taker is both valid and live. The photo that has taken as a result of the facial scan and submitted ID is afterward cross-checked for a reliable and quick ID verification process.
Fabian Kofler, CEO, and Founder said. “The exclusive selling proposition of this service consists in quick and easy usage and we need to ensure registration process is also part of it. Netverify by Jumio has given exactly what the business official was looking for: a way to scan an ID, and also fully verify that individual at another end who submits that ID is an ID owner as well. With that technology in place, we are seeing forward to expanding the business into Austria, Italy, Sweden and the UK. After that, their plan would be to enter the dynamic North American market and that all is becoming because Jumio is providing state of the art technology for turning that dream come true for huge number businesses across the globe.