FTx Identity’s Enhanced AI Technology is Here!
With FTx Identity’s AI identity verification platform, you can experience the highest level of accuracy.
The Future of AI Verification
and Validation
Here at FTx Identity, we think that an integrated identity solution is the way of the future of identification, and AI will be a key component of this expanding opportunity. Over the past few years, global enterprises have been leading the pack in terms of digital identification, remote customer enrollment, biometrics (physical and behavioral), risk and identity assurance solutions, as well as downstream reauthentication solutions.
The ability to open new online accounts and remotely verify one’s identity is essential for acquiring access to crucial services for substantial users of digital services like banking, insurance, and healthcare.
Why Enterprises Are Struggling
with Identity Management
The primary enterprise stress of those operating in regulated industries such as banking, finance, eCommerce, gaming, and healthcare is driven by the need to solve and manage digital enrollment. It is required by these businesses that they make sure that their customers are who they say they are and demonstrate compliance with KYC (know your customer) and AML (anti-money laundering) rules.
Customers may experience friction as a result of the necessary identity management, which may negatively affect the business units (BU) tasked with increasing sales through the acquisition of new customers and offering customer service while simultaneously safeguarding customers from identity and financial theft, fraud, and loss of private information. Additionally, these same customer protection solutions may have a detrimental influence on the customer experience, leading to customer drop-off and revenue loss as a result of existing and new customers switching to competitors that offer greater digital workflows and customer experiences.
Build Customer Trust with FTx Identity's Revolutionary ID Verification Solution
Our online identity verification solution enables frictionless identity verification as well as reauthentication on a single, integrated platform. Furthermore, we support the use of various proprietary and complementary authenticators and provide a sophisticated real-time decision engine developed on automated microservices and an API-based cloud platform, supported by an infrastructure based on artificial intelligence and equipped with integrated enterprise tools and capabilities to enhance the user experience for both customers and employees. What it boils down to is that the future of identity is moving towards a more integrated solution that can answer important questions like “who are you?”, “what do you have?” and “where are you going?” This is done with the help of AI-based intelligent verification and authentication.
AI Verification
Expectations, Effects, and Advantages
Depending on the circumstances, artificial intelligence has many definitions, effects, and upsides. Since AI is such a diverse species of technology, different industries have varying interpretations of what it entails. Here, we examine how AI is improving ID verification and what to expect from it.
Precise Data
A new customer is submitting their passport, a government-issued ID, and proof of address for verification. These documents would need to be reviewed by a human in the absence of AI. What are the obvious issues with that? First of all, it’s a time-consuming process, and secondly, human error is always a possibility.
However, stop searching—AI ID verification is here. This procedure is automated by AI. Documents are uploaded via a website or app, the evaluation process takes place virtually instantly, and the likelihood of error is extremely small. As a result, you have the chance to integrate more customers more quickly. Customers who no longer have to wait so long for their accounts to be approved experience much more happiness and satisfaction.
Constructing Risk Profiles
It’s just the start of a long relationship when you verify a potential customer’s identity and welcome them to your business. After the customer is onboarded, their behavior, risk level, and eligibility must be evaluated in real-time. However, due to the near impossibility of manually monitoring customers, tracking their activities, and collecting data to create a risk profile, this procedure is incredibly difficult. Disorganized data can be processed by artificial intelligence, and these risk profiles can be developed instantly. AI is taking the heavy lifting off your plate by gathering the required data, creating the profile, and giving you the time to critically examine it. The burden of creating these profiles is removed from the compliance and KYC teams, giving them more time and peace of mind to make decisions based on the data.
Automation of Workflow
KYC and ID verification are processes that have several steps. Each of these stages must be completed, and they must be done in the exact order prescribed. If you are not making their lives easier during these processes, there is a genuine possibility that you will lose potential customers, given that people want things done promptly and have an abundance of options and alternatives. In an ideal scenario, customers would want to rapidly complete this process, move onto the next step, and then, after a short while, be on the other side of it.
Artificial intelligence streamlines the entire process from beginning to end while increasing the efficiency of each phase. Users go seamlessly from one stage to the next, lowering the likelihood that they will switch to another provider. AI is integrating the process and making it flow, from OCR (optical character recognition) inspections and 3D liveness detection to acquiring personal information.
Spending Less Money
KYC and ID verification can be very expensive for businesses. While the costs involved with these processes may not be visible to the naked eye, there are many factors at play. The following is a breakdown of the key elements that make up the entire KYC cost:
- The salary and compensation of the compliance teams responsible for monitoring the process and examining documents
- The cost of outsourcing or building the required technologies for completing KYC and identity verification
- The revenue lost as a result of potential customers quitting or switching providers as a result of an inadequate onboarding process
- The regulatory penalties connected to a poor verification process
- The damage to one’s reputation and the loss of customer trust brought on by security-related events like personal data breaches
Artificial Intelligence Technology
for the Future
Using our innovative technology, we provide you with a fraud-free experience and the best possible ID verification.
- Numerous artificial intelligence models are used to create improved artificial intelligence
- Many artificial intelligence training models provide quicker, more dependable, and accurate ID verification when trained with enough real data
- The artificial intelligence technology used by FTx Identity is capable of identifying sophisticated fraud, whether it involves altered identity documents or biometric spoofing
- Our cutting-edge artificial intelligence technology is simple to integrate into a variety of channels
The Enhanced Artificial Intelligence of FTx Identity
Worldwide Coverage
Prevent the use of accounts that were stolen, sold, or otherwise accessed in violation of your company’s terms of service.
Precision in Authentication
With unique artificial intelligence models for each type of document, the improved artificial intelligence makes document authentication extremely accurate.
Rapid Verification
Technology-advanced artificial intelligence algorithms from FTx Identity quickly and seamlessly onboard your customers by verifying their identities.
Superior Performance
Enhanced artificial intelligence is based on models that have been trained on real data, so they can provide you with an accurate verification solution rather than merely performing on paper, and these models improve in accuracy with each verification that is carried out.
Make Your Way Toward the Best Decision
To guarantee that every verification is as precise as possible, FTx Identity offers a multi-layered model.
Final Answer Verified by Artificial Intelligence
Quality Assurance Audit for Well-Informed Results
Identity Verification Can Be Successfully Automated
Final Answer Verified by Artificial Intelligence
Final Answer Verified by Artificial Intelligence
The enhanced artificial intelligence of FTx Identity is taught on a wide range of document types. Our artificial intelligence supports ID documents from more than 180 countries with high accuracy in verification, ranging from driver’s licenses to passports. The artificial intelligence quickly evaluates user faces and ID papers and offers a definitive answer and explanations (in the case of a failed verification).
Quality Assurance Audit for Well-Informed Results
Quality Assurance Audit for Well-Informed Results
The verification approach from FTx Identity is unique in its field. We carry out a verification audit even after the findings of the verification are given to the clients to ensure every verification produces correct results. Tech professionals can eliminate system ambiguity and lower false positives with the help of these timely audits.
Identity Verification Can Be Successfully Automated
Identity Verification Can Be Successfully Automated
The identity verification procedure can be successfully automated by utilizing improved artificial intelligence technology. You may rapidly verify the identification documents of your customers worldwide by ensuring special security features, thanks to improved artificial intelligence.
Use Cases
Sell age-restricted products with ease and be sure that your business is operating efficiently and effectively without the risk of selling to minors.
Learn More
Fast and Easy API Integration
Utilize our user-friendly SDK to develop age-restricted software
solutions and websites and offer a unified login system.
solutions and websites and offer a unified login system.
Frequently Asked Questions
How accurate is AI verification?
We match all customer-end data to their government-issued ID, verify with a front and back view that this government ID is valid, and gather a live selfie image of the user. We then compare all the data and direct the user to the next step, which questions them in public databases and allows them to either enter an OTP (one-time password) sent to their mobile number or email address used to sign up if it is in the public database, or by selecting the correct recorded address that corresponds to them.
How does AI verification protect my business?
AI verification uses advanced technologies to provide accuracy where human error is common. This can be when checking ID documents, such as a driver’s license or passport, especially in high-traffic areas where staff may need to verify multiple IDs at once.
Can AI verification be used in KYC/AML compliance?
Yes, AI verification provides an extra layer of security in your KYC and AML processes by checking for any chances that documents can be forged, faked, or edited. In addition, biometrics check that the person being verified matches the ID documents with AI facial recognition algorithms. When the person is not physically present, AI verification can provide additional visual facial matching (virtual healthcare, remote employment, online loan applications).