With this solution, ABBYY aims to make the digital onboarding process not only more efficient, but also much more secure. Thus, with Proof of Identity, organizations can improve their onboarding experience while also reducing the risk of fraud.
ABBYY, a leading provider of intelligent process automation solutions, announced October 11 that it has launched Proof of Identity, its solution that accelerates customer onboarding and minimizes fraud losses. The platform is built on ABBYY Vantage Intelligent Document Processing and ABBYY Timeline process intelligence.
Wherever a business needs to ensure that the customer is who they say they are, such as claims, account openings, enrollment processes, and customer onboarding, proof of identity is an essential first step. However, concerns about fraud, including identity theft and imposter scams, are on the rise. This is where ABBYY’s Proof of Identity comes in, not only simplifying these document-centric digital onboarding processes, but also reducing the risk of fraud.
The platform provides all the intelligent process automation capabilities to match a user’s claimed identity with their actual identity. This includes ID reading (mobile capture and document classification), ID verification (image-tampering fraud detection), facial matching based on a top rated NIST-rated algorithm with extremely low bias, and trailing documents (document-centric identity affirmation).
Bruce Orcutt, SVP of Product Marketing at ABBYY, commented: “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. ABBYY Proof of Identity accomplishes this by leveraging our intelligent process automation technology into identify 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.”
Charlotte, North Carolina-based ABBYY offers a wide range of intelligent automation solutions, including Process Intelligence, AP automation and Intelligent Document Processing.
The full press release can be found here.
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