Product: Netverify Mobile
Company: Jumio Inc.
Netverify Mobile represents the latest technology from Jumio Inc., an online verification and mobile payment platform firm based in Palo Alto, Calif. The proprietary technology allows businesses to authenticate customers in real-time by converting a smart phone or computer device into an identification scanning terminal.
Once a passport, driver's license or identification card is scanned, the verification process requires about 30 seconds to complete, the company stated.
According to statistics collected by Jumio, smart-phone users are one-third more likely to experience fraud than the general public.
"With fraud becoming rampant on mobile, businesses need the tools to both know and help protect their customers, while also providing them a more convenient way to verify their identities," said Daniel Mattes, founder and Chief Executive Officer of Jumio.
"Businesses can move from taking days to verify a customer's identity to immediately authenticating a user's ID, transforming what has traditionally been a complex and costly process - ID verification - into an almost instantaneous transaction on both mobile and the web," Mattes noted.
Traditional methods for authenticating customers in the past have required documents to be transmitted through fax or mail, a lengthy process at best. Within Netverify Mobile's application, customers can register or apply by tapping the "scan now" button, which activates a smart-phone camera or computer to scan and transmit an identification document via secure 256-bit encryption.
The app not only scans, validates and extracts the customer data, but it securely stores customer credentials on a client portal, removing sensitive data from the customer's mobile or computer device, the company reported.
Businesses can integrate the app by clicking the "request info" button on the Jumio website, which initiates contact with a company representative to answer questions and begin service activation.
The company then issues a personalized application programming interface token for system integration and to perform advance testing before processing customer verifications. The application can be configured to conform to merchant branding and business processes.
As part of the automation process, Netverify Mobile sends feedback to the customer and business that the scanned document has been submitted and the identification validated, allowing transactions to continue without delay.
Jumio formed a number of strategic partnerships globally with acquiring banks and payment processors for its turnkey, end-to-end payment processing services. Netverify Mobile is available in Apple Inc. iOS, Google Inc. Android, and web versions.
Features of Netverify Mobile include:
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