Thanks to this German company, a realtime online ID checking system exists. IDnow is an identification verification platform that can determine the legal identity of web-based customers. Best of all, the process only takes three minutes via smartphone, tablet, computer or any other camera-featuring device with video chat.
By scanning your ID (whether it's a passport, driver's license or other appropriate legal documentation) using the electronic device's camera, IDnow's algorithms determine the authenticity of your identification. The online ID checking is followed up by a brief video phone call with an IDnow employee who matches the person on the ID to the person making the internet transaction.
This could come in useful for banking and financial services, in addition to any online service that would require customers to be of a certain age.
What's Driving This Trend
- Realtime Online ID Checking
- An opportunity for disruptive innovation in identity verification by providing a quick and efficient online ID checking system.
- Fast Verification Algorithms
- An opportunity for disruptive innovation in algorithm development to accurately determine the authenticity of legal identification documents.
- Video Verification Solutions
- An opportunity for disruptive innovation in video chat technology for verifying the person's identity during online transactions.
Who This Affects Most
- Banking and Financial Services
- An opportunity for disruptive innovation in identity verification for secure online banking and financial transactions.
- Online Services
- An opportunity for disruptive innovation in age verification for online services that require customers to meet certain age criteria.
- Digital Authentication Technology
- An opportunity for disruptive innovation in developing technologies for secure digital authentication and identification.
