European identity verification provider IDnow has launched the newest version of its video call solution, Videoldent Flex, combining the capabilities of artificial intelligence (AI) and human interaction.
Designed to boost customer conversion rates, reduce fraud attempts and tackle a multitude of online verification scenarios, Videoldent Flex is an upgrade from its pre-existing solution, Videoldent.
The newly enhanced service is specifically engineered for the UK market and aims to address the growing challenges the country faces when it pertains to identity fraud, as well as the continuous threat of KYC and AML compliance shortcomings.
This is achieved by merging live video identity verification via hundreds of trained experts to maintain a high level of customer interaction. AI steps in to boost onboarding rates and effectively engineer a strengthened fraud detection system.
Bertrand Bouteloup, Chief Commercial Officer at IDnow, stated: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition.
“In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding.
“With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”
IDnow cited Videoldent Flex as a cost-effective solution for firms who find identity verification systems to be costly, making it adaptable for regulatory bodies, financial services, telecommunications and gaming companies.
Videoldent Flex brings a myriad of features and benefits to the table, one being real-time fraud prevention. Via its advanced capabilities, including AI-driven analysis, the system helps protect businesses and customers alike from evolving fraud tactics, such as deepfakes.
Other benefits include live video verification conducted by industry experts, extensive document coverage, application reviews for potential high-risk individuals, and more.
Bouteloup concluded: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity, capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues.
“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”
