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Cryptocurrencies

Coinbase uses machine learning to improve ID verification processes

Wednesday 14 February 2018 | 09:31 AM CET

Coinbase, a cryptocurrency exchange startup, has announced that it is using machine learning to improve ID verification processes.

The cryptocurrency exchange admitted that many customers had a poor experience with identity verification, payments and customer support. However, now, in most cases verification will take seconds, not hours, as it previously did.

The exchange has also integrated an additional ID verification vendor to help with increased loads during periods of peak demand. This enables them to check nearly 90% of all customers who submit an ID. Furthermore, if a customer’s ID verification fails, the company sends an email explaining why the ID could not be verified, along with specific suggestions on how to resolve the issue.

“These features are currently available on our website and similar improvements for our mobile apps will be rolling out in the next few weeks,” exchange representatives concluded for Econo Times.

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