Company: Jumio Corp.
Jumio Corp., a global technology provider based in Palo Alto, Calif., with offices in Austria, India and the United Kingdom, created Netverify, a real-time identity verification solution that uses computer vision technology in smartphone cameras and webcams to capture and verify user credentials. Verification takes approximately 60 seconds from start to finish and works on Windows, iOS and Android operating systems. The solution combines human expertise with advanced technologies to detect anomalies in images and documents, the company stated.
"Computer vision is a branch of technology that makes computers see," said Philipp Pointner, Vice President Product at Jumio. "Computers can derive valuable data from digital images and learn to recognize nuances in documents, including holograms, font sizes and facial recognition."
Jumio Chief Executive Officer Stephen Stuut said, "With 30 million verifications to date, we have a body of knowledge and know what to look for in an image or document. We can also read the information inside NFC chips; this technology is used by many European issuing authorities in national ID cards and passports." He added that Netverify can recognize documents issued in more than 100 countries and is constantly adding new document types to its knowledge base, including non-Latin character documents.
Following are additional solution features the company pointed out:
Netverify's computer vision technology is designed to improve online and mobile checkouts by using computer vision technology to extract and auto-populate data from payment cards and ID documents. Its enhanced security and intuitive user interface can upgrade the mobile shopping channel by reducing shopping cart abandonment and improving fraud detection, Jumio said.
Jumio is continually adding new document types to its platform to expand services and create a better user experience. It has reseller arrangements with leading companies interested in providing additional services and support to their merchants.
"When you consider how many IDs merchants have to process on any given day, and how many security questions consumers have to answer to confirm their identities, Netverify can remove all of that friction, reduce fraud and chargebacks and significantly improve the user experience," Stuut said.
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