According to a recent Gartner report, fraud will account for 1.5 percent of all mobile transactions in the next four to five years. Smartphone users are one-third more likely to experience fraud than users of other types of phones. Netverify makes requesting customer ID easy and inexpensive. Its real-time ID verification protects the user from fraudulent activity and quickens the confirmation process while reducing associated costs for vendors and online communities.
Netverify Mobile scanning technology does not require any additional hardware and is easily implemented using the Netverify Mobile SDK. It can be can be customized to fit the design of the app. Businesses can configure settings for document requirements, pre-selecting the country or document type they’d like customers to provide.
With Netverify, ID verification takes only 30 seconds and it is done without breaking the momentum of the transaction in which the customer is engaged. The possibility of fraud and costs incurred to review low-quality copies of mailed or faxed documents is reduced. Companies can now easily meet their KYC (Know-Your-Customer) requirements. Netverify uses 256 bit encryption to transmit data, ensuring the highest level of security for sensitive transactions.
Jumio’s ID verification technology can easily be integrated into iPhones and Android applications. Financial institutions, e-tailers and consumer marketplaces will be able to confirm a customer’s identity based on government issued IDs from more than 60 countries.
Consumers use the camera of their smartphone to scan an image of the front and back of their document and complete a registration or application process within seconds. Consumers do not need to keep a record of the scan or personal data stored on their mobile devices, so their information is secure. If the ID is valid, Jumio provides feedback to the business as well as customer so that the transaction can be completed instantly.