Ride-hailing startup Vengo has become the latest customer to embrace Shufti Pro‘s remote onboarding solution. The company will use the Shufti Pro solution to verify the identities of its drivers.
Shufti Pro’s solution is designed to use facial recognition to match end users’ selfie images to those of their official identity documents. It’s an increasingly popular approach to remote identity verification, and Shufti Pro may be picking up momentum as a vendor, having just announced another client – crypto platform Morpho Labs – last week.
Vengo says its app-based ride hailing service is operational in the US, Europe, Asia, and South America; but in a statement announcing the partnership, the company emphasized that it was embracing Shufti Pro’s solution in order to “comply with mandatory KYC requirements, especially for the market segments of Venezuela”.
That having been said, Vengo co-founder Sami Michl also gestured at Europe’s biggest privacy and data protection regulation in his commentary on the partnership.
“Shufti helps us to keep a competitive advantage in leapfrogging markets by using artificial intelligence to verify our drivers data and storing them GDPR-compliant,” he said, adding later, “the PCI-compliant AI ID Verification underpins our clear and transparent compliance framework, which we use for fraud detection with our payment gateways and other strategic partners.”
For Shufti’s part, CEO Victor Fredung said that the company is committed to helping businesses to “expand without the risk of digital identity fraud,” and highlighted the efficacy of Shufti’s technology. “Our AI-powered KYC solution validates the identity of individuals in seconds with an accuracy rate of 98.67 percent, making the onboarding process swift and reliable,” he said.
Shufti Pro upgraded its platform with the addition of an NFC reading feature to further enhance document verification. The company’s solution made its debut on the Salesforce AppExchange the following month.