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GetID Uses AI Technology Trained to Recognize Nearly 8000+ Different ID Documents Globally

Since I’ve been working in the financial industry I’ve gained a lot of knowledge about compliance and regulations in the financial sector, and their importance. I’ve also come to realize that compliance and regulations create a lot of challenges for financial organizations (especially during expansion) and how they affect the customer onboarding process.

I saw that there are problems that need to be solved. So, we decided to create a solution that could help financial organizations to effectively onboard customers online, prevent fraud and stay compliant with regulatory requirements. That is how the idea of GetID was born.

Today, GetID is a comprehensive and flexible solution with a wide range of integration options, cost-efficient pricing, great speed and accuracy. The GetID solution covers a broad spectrum of services including ID Document Verification, Biometrics including Liveness Detection, AML Screening, and Proof of Address checks. 

Our mission is to provide our customers with an affordable and reliable Identity Verification solution for KYC and Customer Onboarding. Also, one of our goals is to offer a solution with global coverage that is crucial for businesses during expansion to new markets so they would be able to onboard new customers worldwide.

Dmitri Laush, GetID’s CEO

What Problem Are You Trying to Solve? 

The fraud cases with the stolen identities are rising every year. Worldwide losses because of payment fraud hit $27.85 billion in 2018. Last year AML-penalties for banks reached $10 Bln. So both individuals and organizations are suffering because of criminals, stealing identities or laundering money. So, we are working hard on solving this problem by developing fast and secure identity verification.

We’re helping other companies to stay compliant with regulations, speed and scale their onboarding process, and reduce operational costs. For example, for trading asset platform Admirals we’ve decreased verification turnaround time by 90% and increased customer conversion by 40%. Also, we’re bringing our expertise in ID document verification working closely with renowned ID document experts.

How Are You Solving That Problem?

As I’ve mentioned above, our goal is to provide our customers with a flexible, affordable and reliable Identity Verification solution. GetID is a smaller company compared to some other bigger and well established players on the market. It actually gives us several advantages. 

Firstly, we’re more flexible within our solution, so we can offer our clients a higher level of customization. 

Secondly, companies can integrate GetID’s software into their system (and existing workflow) within several hours. 

This leads us to our latest development – a product called KYC Flow Builder. It’s a powerful tool that enables our customers to streamline the launch process and allows to reduce time and integration costs significantly with the highest level of customisation and security.

Within a few simple steps users are able to choose needed checks (according to their onboarding procedure and/or regulatory requirements), customise the visual appearance of a user journey, and choose an integration option. Our customer can be up-and-running in (literally) a few hours.

It’s a perfect tool for any size company – it allows to significantly speed up and simplify the integration process while leaving a lot of room for flexibility and personalization.

Moving onto fraud prevention, GetID brings in serious expertise in the ID document verification which is crucial for the KYC and onboarding process.

GetID has an in-house AI technology that is trained to recognise nearly 8000+ different ID Documents globally, searching for specific markers in the security indicators. 

Recently, our Document Verification engine has been seriously upgraded. Every step in the ID Document Verification process – data processing, pre-processing, classification, document authenticity check – has been revamped. As a result, our Document verification engine features an automatic document type recognition paired with fast processing and accurate results.

We also have an in-house ID document verification team that is highly skilled and works closely with globally recognized experts in ID verification from Interpol and border controls. 

How Has the Pandemic Impacted Your Company?

Actually, we were doing pretty well during the pandemic. Many services have shifted online which have increased the need for digital identity verification services. 

Of course, we could not present our solution at the industry events and we had to work from home. But it did not impact our performance negatively.

Where Do You See Your Company Going In 5 Years?

We see ourselves as a useful service for any company that needs onboard new clients in the online environment. We will continue working on our solution which allows companies to automatically identify the client and keep all the data private.

How Can People Find Out More About GetID?

Everyone is very welcome to visit our website where you can learn more about our services, read our blog (which is packed with informative content) and reach out to our team if you have any further questions.

Also, we’ve set up a free and secure demo page where you can experience the journey of a person that needs to be verified.

We’ve been actively participating in trade shows and events showcasing our “magic”. There is nothing better than real live communication with other people!

We’re also active on our Linkedin page where we’re sharing loads of industry insights, company and product updates and tons of other useful content.

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