ABBYY combats fraud with Proof of Identity solution

ABBYY is introducing an all-in-one solution that offers instant identity proofing and affirmation, anytime, anywhere. ABBYY Proof of Identity simplifies document-centric digital onboarding processes while giving organizations confidence that customers, constituents, employees, and partners are who they say they are, according to the vendor.

As more consumers go online to conduct business, the challenge of verifying identities to prevent fraud has become increasingly critical.

“More high-risk interactions are transacted online especially in banking, healthcare, and government that require balancing trust in a person’s real-world identity with the customer’s expectation for a smooth user experience—and there needs to be a better way of doing it,” commented Bruce Orcutt, SVP of product marketing at ABBYY, an intelligent automation company. “ABBYY Proof of Identity accomplishes this by leveraging our intelligent process automation technology into identity proofing and identity affirmation capabilities that are easy for customers and secure for businesses. By using ABBYY Proof of Identity as part of their onboarding platforms, organizations will have significantly lower abandonment rates, and customers will benefit from a positive experience.”

ABBYY Proof of Identity is an easy-to-use platform built on best-in-class ABBYY Vantage intelligent document processing and ABBYY Timeline process intelligence to seamlessly deliver all the capabilities to match a user’s claimed identity with their actual identity, including:

• ID reading, including mobile capture and document classification
• ID verification, including image-tampering fraud detection
• Facial matching based on a top rated NIST-rated algorithm with extremely low bias
• Trailing documents (document-centric identity affirmation)
• Exception handling (optional human auditing of certain transactions)
• Process intelligence and mining to identify opportunities for process improvement

For more information about this news, visit www.abbyy.com.