IDnow Reports Ten-Fold Increase in Authentication Transactions Over Past Six Months

“In announcing the tenfold growth in the use of AutoIdent, IDnow cited a few key factors in driving customer interest: new business models, heightened security efforts, and increasing digitization.”

IDnow Reports Ten-Fold Increase in Authentication Transactions Over Past Six Months

IDnow is reporting a 1000 percent increase in transaction volumes for its AutoIdent authentication solution over the past six months.

Developed in collaboration with DERMALOG, AutoIdent revolves around the use of biometric facial recognition and document reading technologies, enabling remote identity verification by comparing an end user’s selfie image to their official ID. It also supports liveness detection to spot potential spoofing attempts, and can be supported by human identity specialists for an extra level of security when required.

In announcing the tenfold growth in the use of AutoIdent, IDnow cited a few key factors in driving customer interest: new business models, heightened security efforts, and increasing digitization. The COVID-19 pandemic was surely an underlying factor as well, and perhaps the most critical one – multiple digital security and authentication companies have reported a spike in interest stemming from the global shift toward remote services.

“Identity verification in general, but especially AI-based products such as AutoIdent, have great growth potential – particularly in the current crisis, where digital products are in greater demand than ever before,” explained IDnow CEO Andreas Bodczek in a statement.

Bodczek went on to highlight the appeal of selfie-based authentication more broadly. “Whether in banking, mobility, telecommunications or economy platform sharing, everyone is interested in a fast, seamless and secure onboarding process that increases conversion rates and customer satisfaction while providing the highest level of security,” he said.

IDnow’s announcement comes after last week’s news that it was in talks with government authorities in the UK about potentially using its technology for a COVID-19 immunity credential concept.

(Originally posted on FindBiometrics)