Since the beginning of 2020, IDnow notices an enormous increase in transactions with the AI-based solution AutoIdent. From January to June a volume increase of over 1000% was recorded.
The customer base covers a wide range of different industries – insurance, banking, mobility, cryptographic currency platforms, and telecommunications. The use cases within these industries are just as diverse: new business models, security maximization, digitalization, and much more.
Best-in-class fraud prevention.
The advancement of a biometric system is measured by the False Acceptance Rate. This is a specific key performance indicator that measures false acceptances with a biometric security system. It tracks and evaluates the precision of a biometric system, and therefore determines the rate at which unauthorized users are verified on the system.
Current regulations require a biometric system for governmental use to have a FAR of below 0.1%. AI-powered solutions are able to outperform even these very high requirements. IDnow AutoIdent, for example, has a FAR of only 0.05%. So, trust in AI-powered solutions definitely is warranted.
Have we piqued your interest? Find out more about AI-powered identity verification in our AutoIdent Quick Guide.