Addressing growing global fraud and increasing regulations, Acuant Video KYC offers user-friendly and robust identity proofing
LOS ANGELES, Aug. 10, 2021 (GLOBE NEWSWIRE) — Acuant, the leading global Trusted Identity Platform for fraud prevention and AML compliance, announced today the addition of Video Know Your Customer (KYC) to verify identities. Acuant’s Video KYC utilizes a live agent for additional security and certainty allowing businesses to meet regional regulatory requirements and to facilitate identity proofing with a user-friendly workflow. The release of this new service strengthens Acuant’s global offerings and coverage of more than 90% of the world’s population when it comes to verifying an identity and establishing trust.
Video KYC and identification offers a high-confidence, cost-effective way to transact with trust in an era of rapid digital transformation. Acuant has made the process seamless by orchestrating ID document authentication, biometric facial recognition match and providing the ability to layer on additional personal data checks (Potentially Exposed Persons (PEPs) and sanctions screening) – in less than five minutes. Customers follow an easy process with no apps to download and are connected to a live agent within two minutes. Available 24/7, the agents are able to immediately manage any flags or issues for the utmost security, while facilitating faster transactions for trusted customers.
Video KYC, an AML requirement for certain nations throughout Europe and South America, is being widely adopted in the wake of dramatically increased remote transactional fraud. Research has suggested that Video KYC is growing globally and has a CAGR of approximately 17% through 2030. It offers more assurance for businesses and a more user-friendly workflow for both the tech savvy and those less so. GDPR compliant and fully secure via encryption, Acuant’s service can be customized and configured to a specific use case, language, regulatory requirements and is able to address transactions throughout the entire consumer lifecycle.
With more than eight consecutive quarters of record-breaking revenue growth, innovation and global expansion are at the core of Acuant. “Our mission of powering trust for all is driven by delivering the gold standard in identity proofing and making that accessible to the entire global population,” said Yossi Zekri President and CEO of Acuant. “The addition of Video KYC to Acuant’s Trusted Identity Platform is helping to drive our mission and we are proud to continuously deliver on this, allowing our customers to quickly adapt to the fraud landscape.”
Beyond dominating traditional document-centric identity verification with the industry’s largest identity document library of more than 6,500 templates, Acuant is now able to verify the identity of more than 90 % of the world’s population via both traditional and alternative data sources. The addition of ProfileID via the recent acquisition of Hello Soda has enabled the use of digital footprints and social media data to address use cases that require alternative data and cover the thin-file, new-to-country, unbanked and underbanked populations.
Acuant examines identity verification methods across multiple industries and shares how to select the right solution in a recent white paper with One World Identity, “Establishing Trust: Identity Verification in an Increasingly Digital World.” To learn more, read the full white paper here.
Acuant’s Trusted Identity Platform is at the forefront of empowering businesses and governments to transact with trust in an ever-increasing digital world. Enabling the creation, ownership and ability to verify and securely share a digital identity, Acuant’s inclusive technology is accessible to the entire global population.
AI-powered, industry leading identity verification, regulatory compliance (AML/KYC) and digital identity solutions deliver unparalleled results and operational efficiency with omnichannel deployment. Acuant verifies identities in seconds anywhere your customers want to transact, providing superior customer experiences to fight fraud and fast-track trusted identities.
Completing more than 1.5 billion transactions in over 200 countries and territories, Acuant powers trust globally for industry leaders in finance, crypto, retail, healthcare, gaming, hospitality and more.
A video accompanying this announcement is available at: https://www.globenewswire.