IT Brief Australia - Technology news for CIOs & IT decision-makers
Story image
Experian chooses IDVerse to improve digital onboarding and growth
Thu, 1st Jun 2023

Experian, the global information services company, has chosen identity verification solution provider, IDVerse, to support its customer's digital onboarding and expand its digital footprint across the globe.

By working with IDVerse, Experian plans to allow its entire customer base to carry out identity verification checks as part of the customer journey. It also enables Experian to widen its partner ecosystem, making the end-to-end onboarding process seamless for clients and consumers.

The partnership will allow Experian to offer a fully automated identity verification solution to its clients that complements its CrossCore fraud management ecosystem. In addition to providing future-proof strategies, the combined solution can also help catch fraud more quickly, improve compliance, and improve customer satisfaction.

Eduardo Castro, Managing Director ID&F, Experian UK&I, comments, "Experian is committed to helping eliminate fraud and financial crime, ensuring safe financial access for all.

"As part of this journey, we are delighted to be working with IDVerse. Its generative AI capabilities are a natural addition to our existing CrossCore solution, offering our customers more flexibility and the ability to adapt to changing circumstances."

IDVerse's proprietary technology provides a smooth customer onboarding experience and a response time of under 30 seconds. IDVerse is the most certified identity and document verification solution, both in terms of the extensiveness of standards and independent lab test-scoring performance.

The company's Zero Bias AI tested technology pioneers the use of generative AI to train deep neural network systems to protect against discrimination on the basis of race, age and gender while defending against deepfakes.

John Myers, CEO at IDVerse, comments, "IDVerse is a new generation of AI that is more intuitive and adaptive at making real-time risk decisions throughout the customer lifecycle.

"Our new name reflects the expansive potential of our generative AI technology and a continuing commitment to partner with innovators like Experian, who are fusing risk-based authentication, identity validation, and fraud detection into a single, state-of-the-art cloud platform."

IDVerse was founded as OCR Labs in 2018 with the vision to make user verification intuitive and effortless. The new name and branding combine identity and universe, versatile, and diverse and highlight the companys commitment to a comprehensive and universal approach to identity verification.

Customers such as HSBC, Vodafone, BMW, Virgin Money, and ANZ are already utilising IDVerses technology to verify new users in seconds with just their face and a smartphone.

IDVerse verifies 16,000+ identity documents in over 220 countries/territories and processes 142 typesets/languages, matching people with their government-issued IDs worldwide, helping fight fraud and remain compliant with identity verification requirements for Anti-Money Laundering (AML) and Know-Your-Customer (KYC).