London, UK – 5 December 2023 IDVerse won the Best Identity Verification System Award at the 2023 Banking Technology Awards in London.
Now in its 24th year, The Banking Technology Awards acknowledge key banking, finance, and technology developments. This year, they recognised a broad range of organisations, from established players to emerging fintech startups.
Russ Cohn, SVP Go-to-Market Global for IDVerse, commented, “Winning this award is a fantastic way to wrap up a remarkable year for IDVerse. 2023 has seen our global team scale further; we’ve welcomed new partners and clients, from Mastercard to Experian and Playtech to Aristotle Integrity, and even unveiled a new look for the company. We’re all incredibly proud to have won this award and look forward to what promises to be an even better 2024.”
IDVerse’s entry focused on:
Banking Digital Transformation:
- Industry shift towards digital transformation to align with customer demands for remote, fast, and 24/7 online experiences.
- Focus on digital identity verification (IDV) necessitating fully automated, inclusive, and globally applicable solutions.
- Generative AI-driven identity solutions powered by AI/ML ensure rapid and accurate decisions, meeting the evolving needs of customers.
Fraud Prevention Challenges:
- Financial services grappling with fraud due to outdated IDV methods and legacy systems.
- IDVerse introduces a fully automated technology, eliminating human intervention to streamline processes and enhance security.
- Advanced AI tools provide comprehensive solutions, including biometric and data verification, video KYC, and re-authentication.
IDVerse’s Technological Advancements:
- IDVerse leverages Natural Vision Processing (NVP) and advanced AI tools for global user verification.
- Achieves 99.99% accuracy with Zero Bias AI™ tested technology, surpassing industry standards and obtaining certifications like ISO 30107-3 PAD and the UK’s DIATF.
- Trusted by global entities such as HSBC, Vodafone, BMW, Virgin Money, and ANZ, IDVerse supports IDV for over 16,000 forms of government-issued ID across 220+ jurisdictions in 142 languages and typesets, ensuring compliance and confidence.
Notes to Editors
Full Winners List:
IDVerse helps you quickly scale your business globally. Our fully-automated solution verifies new users in seconds with just their face and smartphone—in over 220 countries and territories with any ID document—without the burden of human intervention.
We empower true identity for people around the world. Through our Zero Bias AI™ tested technology, we are pioneering the use of generative AI to train deep neural network systems to protect against discrimination on the basis of race, age and gender. We are the first company to achieve 99.99% accuracy in independent lab testing.
Our advancements in Natural Vision Processing (NVP) are enabling machines to autonomously see and perceive as humans and excel in ways that humans cannot.
IDVerse is trusted by startups, governments, and global enterprises, including HSBC, Vodafone, BMW, Virgin Money, and ANZ, for borderless and inclusive identity verification. Founded in Australia in 2018, IDVerse is a Series B venture-backed company with headquarters in London and offices in North America, Asia and Europe.
For more information, visit https://idverse.com/