How Munich's IDnow uses AI and biometrics to enable mobile authentication
AI & Technology
IDnow CEO Rupert Spiegelberg explains how the company is making identity verification as easy as taking a selfie, using AI and biometrics to eliminate paper-based ID requirements.
As people increasingly rely on mobile gadgets to handle everyday chores, they frequently run into old-fashioned requirements to present paper-based forms of ID to verify a wide range of transactions. To eliminate this cumbersome step, IDnow wants to make authentication as easy as taking a selfie.
The technology is particularly of interest to mobile-based financial technology startups, but also has appeal for automotive, crypto, insurance, and telecom companies. Basically, anyone who wants to sell you something that requires authentication for legal or financial reasons via a smartphone is a potential target for IDnow's verification-as-a-platform.
"As people get more used to it, technology such as facial recognition is getting better at discovering fakes and attempted fraud," said IDnow CEO Rupert Spiegelberg. "Our key challenge is to really target those new and broadening sectors, and to roll out across many countries. I think we really are very much in the early days of the growth cycle of this business."
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