With Netverify, BitInstant can confirm that its customers online and offline identities are one and the same by scanning their passport, driver license or government ID issued by more than 60 countries. This instant authentication replaces manual authentication processes such as faxing or mailing a copy of their ID that customers typically endure and that present an obstacle to transaction completion.
Using the camera on a smartphone or computer, consumers scan an image of the front and back of IDs and documents to complete the customer verification process. Both the business and customer receive feedback if the ID is valid, thus allowing for the transaction to continue without delay. The technology enables companies to meet Know-Your-Customer (KYC) and ID verification requirements and helps businesses develop a critical degree of trust with their customers. In addition, Netverify uses 256-bit encryption to transmit data, providing an extra layer of security.
Jumio provides payments and ID scanning & validation products for mobile and web transactions. The companys products are used by retailers, marketplaces and financial institutions.
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