Increasing regulatory challenges, combined with high customer expectations, means that trusted, real time remote identity verification is an essential component of secure online access to a wide range of services.
To meet these customer expectations while maintaining robust security protocols Vaiie partnered with Regula, a global developer of forensic devices and identity verification solutions, to enhance our product capabilities by using Regula’s Document Reader SDK. This partnership forms part of the wide range of checks undertaken by Vaiie solutions.
Fighting financial crime is a constant arms race against those seeking to abuse the financial ecosystem. Building our own technology while partnering with best in class providers gives Vaiie a mesh like approach to identity verification checks and our clients get the best of both worlds.
Fast and compliant identity verification workflow suitable for any organisation, country or industry
Regula’s extensive document template database contains over 12,000 ID templates from 247 countries and territories.
Real time document checks via mobile or web application
Regula’s solution instantly reads and validates personal data in accordance with the relevant template. It can automatically determine if a document is real and verifies its authenticity by analysing the security features such as those within a passport.
Fully automated process that requires minimum action from users
Identify’s simple interface allows clients to control their own identity verification experience with a range of powerful and secure identification tools providing instant validation in the background without the need for separate checks or multiple tools.
Identifying the challenge
Vaiie’s mission was to build an online identity verification service that drastically reduced onboarding time, cost, and abandonment rate, while at the same time enhancing document analysis capabilities to meet even the most stringent of KYC checks.
As a result, Vaiie partnered with a number of trusted third parties, including Regula, to deliver reliable identity verification to help companies throughout the world reach high regulatory standards.
Meeting the challenge
Regula’s solution instantly reads and validates in accordance with the relevant template personal data submitted as part of an identity verification journey. It automatically determines if a document is real and verifies its authenticity by analysing the document's security features. For example, when validating a passport the solution cross-checks data in the visual zone, MRZ (machine readable zone), electronic RFID chip, and barcode to spot any possible inconsistencies that may indicate fraud.
Many Vaiie clients operate in the global market and so it is essential that partners of Vaiie can meet this challenge. Regula maintains its own extensive document template database that contains over 12,000 ID templates from 247 countries and territories, meaning it is fast and effective, whatever ID is provided.
Vaiie Identify delivers an intuitive verification process to help clients verify their customers’ identity in minutes. Through partnering with Regula our clients can:
- streamline identity verification workflows while reducing costs;
- verify more customers in less time;
- mitigate fraud with comprehensive ID authentication;
- deliver an exceptional customer experience;
- comply even with the strictest regulations.
If you would like to find out more about Vaiie or the ways in which our Identify product can support you in accurately verifying your customer identities and improving your customer onboarding experience, please contact us email@example.com.