IDnow
Secured Identity Verification Platform

Armin Bauer, Co-Founder & CTO, IDnowArmin Bauer, Co-Founder & CTO
Although financial institutions are increasingly digitalising its banking operations and encouraging customers to use online services, they continue to use paper-based processes for a customer’s identity verification. For instance, even if a customer is seeking to open a bank account or get a loan approved through the app, he/she has to make a trip to the nearest bank branch to authenticate their identity. This not just makes the process time-consuming but also inhibits the potency of a digitalised financial industry. Hence, the fintech universe needs an alternative method that provides online identity verification that is frictionless and intuitive. Offering the perfect solution—as a service—is a Germany-based fintech provider, IDnow. The company is able to digitally verify a customer’s identity using a combination of artificial intelligence (AI), machine learning, and facial recognition technologies. “By leveraging our identity-as-a-service (IDaaS), you can save money, improve customer conversion rates and streamline your onboarding process,” asserts Armin Bauer, co-founder, and CTO of IDnow.

At the core of this robust service is IDnow’s secure and flexible platform that holds the potential to verify more than 7 billion people from 193 countries in real time. The platform’s latest addition is a product called AutoIdent, which utilises AI-powered facial recognition, computer vision and fraud detection technologies to facilitate automated identification. Customers can use AutoIdent to complete an identification check quickly and conveniently from a desktop, tablet, or mobile device.

By leveraging our identity-as-a-service, you can save money, improve customer conversion rates and streamline your onboarding process


All they need to do is take a photo of their identity document (ID), and then AutoIdent’s AI algorithm compares the photo with a global ID database to determine authenticity. “Getting this feature to function correctly is a massive engineering feat, as we have to deal with lighting issues due to varying camera quality and the quirks of supporting different operating systems and devices. However, we are able to tackle all these problems with ease,” states Bauer. Further, AutoIdent meets the highest security and fraud detection requirements of European countries and is fully-compliant with all regulations and directives such as AML, eIDAS, GDPR, and PSD2.

Alternatively, IDnow offers VideoIdent, a seamless online identification solution using an agent-assisted video chat. Compliant with the data protection directives laid down by European Union authorities, VideoIdent combines AI technology with the expertise of IDnow’s highly-qualified identity specialists. “A customer only requires internet access, a computer with a webcam or a smartphone, and their valid ID to complete the procedure,” explains Bauer. Many financial institutions in Germany have opted for this method of conducting digital onboarding for their customers.

One such organisation is Commerzbank, an internationally-operating commercial bank headquartered in Germany. The bank wanted to digitally transform their banking operations to onboard new customers quickly and easily at any time, regardless of their location. Previously, Commerzbank was relying on in-branch verification and the German ‘PostIdent’ procedure. However, to achieve the bank’s goal of streamlined customer onboarding, transitioning to video ID verification was the logical step. Commerzbank, therefore, decided to partner with IDnow and within a few weeks of the collaboration, the bank’s customers were able to open a new account within minutes using video ID verification. The bank experienced an increase in conversion rates by 50 percent.

Similar to Commerzbank, many companies are choosing IDnow as a reliable partner for identity verification and eSigning solutions. Right now, with more than 250 clients onboard, IDnow is set for growth on an international scale. “We offer the comfort of absolute compliance combined with the freedom to create tailored identity verification solutions,” concludes Bauer.

IDnow News

Zorrz And Idnow Unite To Forge Inclusive Financial Access For All Uk Consumers

ZORRZ, a London-based fintech start-up focused on empowering financial inclusivity and security, has announced its partnership with IDnow, a leading European identity verification platform provider, to revolutionize customer onboarding for their innovative credit solution, the BlueAccess Card.

Aiming to democratize access to credit, ZORRZ is set to launch the BlueAccess Card, a hybrid credit card specifically designed for immigrants, individuals with past credit challenges, students, those with learning or physical disabilities, and other groups currently excluded from mainstream credit.

The card features integrated Buy Now, Pay Later (BNPL) functionality, providing consumers greater financial flexibility to split payments for purchases. ZORRZ also offers an AI-powered Application Programming Interface (API) generating a comprehensive Financial Health Score, an alternative to conventional credit scores.

“The mission of ZORRZ is to provide responsible and seamless access to credit, fostering financial inclusivity through secure and innovative solutions,” says Priyesh V. Mistry, Managing Director at ZORRZ. “Our collaboration with IDnow signifies our commitment to combating fraud while ensuring a frictionless experience for our customers. IDnow's cutting-edge AI-driven identity verification aligns perfectly with our ethos of delivering both security and a smooth onboarding journey.”

Real-time responses, robust fraud protection, and seamless customer verification

By harnessing IDnow’s advanced AI-based KYC (Know Your Customer) solution, ZORRZ aims to comply with FCA regulations, ensuring real-time responses, robust fraud protection, and seamless customer verification. IDnow’s automated document verification, including a face biometric comparison with liveness detection, will empower ZORRZ to streamline customer onboarding securely and efficiently.

Doug Pollock, Vice President Customer Success at IDnow, comments: “We are thrilled to collaborate with ZORRZ in redefining customer onboarding experiences in the UK. Our AI-powered, automated identity verification solutions are designed to make KYC and anti-money laundering processes an enabler rather than a barrier for innovative ventures like ZORRZ. This partnership is an excellent foundation for future expansions, leveraging our expertise in multi-jurisdiction compliance and our extensive European presence.”

In a bid to break down the barriers of bias in AI-powered facial verification, IDnow is participating in the MAMMOth project, collaborating with 12 European partners, including academic institutions, associations, and private companies. Funded by the European Research Executive Agency, the three-year project aims to study and mitigate biases in AI algorithms, particularly in areas such as assessment of loan applications, academic evaluation, and face verification applied to identity verification. This initiative underscores IDnow's commitment to ensuring fair and reliable algorithms, promoting inclusivity, and addressing concerns of underrepresented groups affected by biases in identity verification processes.

The partnership between ZORRZ and IDnow signifies a leap forward in revolutionizing credit accessibility, combining ZORRZ’s commitment to inclusive financial products with IDnow’s expertise in secure and seamless identity verification. This collaboration promises to pave the way for a more inclusive, secure, and accessible financial landscape for all consumers.