IDnow's AutoIdent to be the first AI-solution ready for high security transactions

MUNICH, Nov. 23, 2020 /PRNewswire/ -- IDnow (www.idnow.io), a leading provider of Identity Verification-as-a-Service solutions, announces Artificial Intelligence (AI) identity verification product AutoIdent Substantial. The product is approved for certification to meet the EU eIDAS regulation following the eID Level of Assurance at Substantial. IDnow will be the first company to have an automated solution that fulfills the EU eIDAS regulation at substantial.

Addressing the rising growth in demand for fully digital solutions on a global scale, identity verification provider IDnow presents AutoIdent Substantial, the first-ever Artificial Intelligence (AI) identity verification product approved for certification to meet the EU's eIDAS Regulation for identification services following the eID Level of Assurance at Substantial. IDnow believes that reliable security and trust in its products is the bedrock for identity verification in this rapidly growing sphere.

"IDnow is proud to be the only company to possess an approval for certification at this level of assurance for a fully-automated AI product. Understanding the industry and the emerging needs of our clients and prospective users, we knew what to do and harnessed our technological and regulatory leadership," says Andreas Bodczek, CEO at IDnow. "This is a game-changing development as the benefits of digital identity verification become available to a much wider range of services," he adds.

AutoIdent Substantial offers digital identity verification with the following features and customizable additions:

• ID document verification
• Authenticity check
• Liveness / Biometric detection
• Optional agent review
• Optional capability for an Advanced Electronic Signature (AES) for contract signing with a Trust Service Provider

The smart solution offers new possibilities to a variety of industries and use cases which require higher levels of vigilance while capitalizing on innovative solutions. Its ease-of-use of a fully-automated and self-guided solution in combination with extraordinary levels of security and extensive regulatory compliance makes AutoIdent Substantial a future-proof product. It will greatly support industries amidst dynamic digitization change processes with ever-changing and increasingly intensified legal and regulatory standards.

In particular, health insurances or health care providers will benefit from this unique offering for sophisticated KYC use cases such as customer portal onboarding, access to electronic health records or issuance of health insurance cards. Furthermore, demanding security requirements of public authorities with a wide range of both regulated and non-regulated KYC use cases for public services will be met without any compromises.

With AutoIdent Substantial being part of the IDnow identity verification platform, customers of any industry will enjoy the unmatched flexibility of this platform with its easy access to a wide range of related products and services, even meeting highest regulatory standards such as eIDAS Level of Assurance 'High'.

About IDnow

With its Identity Verification-as-a-Service (IVaaS) platform, IDnow has set out to make the connected world a safer place. IDnow's unmanipulable identity verification is used across industries conducting online customer interactions that require a high degree of security. IDnow uses Artificial Intelligence to check all security features on ID documents and can therefore reliably identify forged documents. Potentially, the identities of more than 7 billion customers from 193 different countries can be verified in real-time. In addition to safety, the focus is also on an uncomplicated application for the customer. Achieving five out of five stars on the Trustpilot customer rating portal, IDnow technology is particularly user-friendly.

IDnow covers a wide range of use cases both in regulated sectors in Europe and for completely new digital business models worldwide. The platform allows the identity flow to be adapted to different regional, legal, and business requirements on a per use case basis.

IDnow is supported by venture capital investors Corsair Capital, BayBG, Seventure Partner, G+D Ventures as well as a consortium of renowned business angels. Its portfolio of over 250 customers includes leading international companies from various industries such as Bank of Scotland, BNP Paribas, Commerzbank, eventim, Raisin (Weltsparen), Sixt, solarisBank, Telefonica Deutschland, UBS and Western Union as well as fintechs such as Fidor, N26, smava, and wefox.

Press contact IDnow:
Christina Schwinning
press@idnow.io
+49 89 41324 6054

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