“…iDenfy’s tech ensures that the person submitting a document for approval is in fact the person who they claim to be.”
iDenfy is bringing digital transformation to the notary business in its home country of Lithuania. The company is now providing remote identity verification services for 229 notary offices throughout the country, which in turn allows residents to get their documents signed without needing to make a trip to a physical notary office.
The notary identity verification service runs the same face and document recognition technology that powers iDenfy’s remote onboarding solution. iDenfy’s algorithm uses optical character recognition to confirm that a passport or another government-issued identity document is authentic, and then uses facial recognition to match a selfie to the image on that ID. The solution can sort real documents from fake ones with greater accuracy than the human eye, and has achieved a success rate of 98.4 percent.
As it relates to notaries in particular, iDenfy’s tech ensures that the person submitting a document for approval is in fact the person who they claim to be. The identity check is paired with electronic signature technology to enable remote document signings that still have a verifiable root of trust that will pass official legal muster.
“The legal market is in demand of simple, client-oriented notarial services that could be easily reached remotely,” said iDenfy CEO Domantas Ciulde. “We’re constantly updating our digital identity verification solution to fight back fraud more efficiently. Our team’s happy to contribute to the implementation of smart innovations in the Lithuanian legal ecosystem.”
iDenfy noted that the demand for remote signing services has cooled since the height of the pandemic, but nevertheless believes that digital documents will become the norm within the next few years. The company is offering to verify 500,000 identities for free to encourage more notaries to adopt the service. Once that threshold has been reached, clients will only need to pay for each successful identity verification check.
In the meantime, iDenfy recently signed its 500th client. The company’s platform also has proxy detection capabilities.