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OCR Labs relaunches as IDVerse in the expanding universe of online identity verification

Sydney, Australia – 30 May 2023 – OCR Labs Global, a world leader in digital ID verification (IDV), has begun the next stage in its evolution. Newly branded as IDVerse, the company offers seamless and scalable IDV solutions that will allow companies to evolve how they interact with consumers.

The move away from OCR (Optical Character Recognition) in the company’s name reflects how the IDV landscape has changed since 2014 when OCR Labs began operating in Australia. With the rise of Generative AI and synthetic media, fraud has evolved, and so has the company’s products.

The new name and branding combines “identity” and “universe,” “versatile” and “diverse,” and highlights the company’s commitment to a comprehensive and universal approach to identity verification. IDVerse also signals the importance of Zero Bias AI™ in the company’s identity verification platforms and products.

With its humanity-first, tech-centric approach, IDVerse provides a comprehensive suite ofproprietary solutions – biometric verification (known as liveness technology), identity document verification, data verification, Video KYC, Age Verification and reauthentication.

Powered by AI, IDVerse contains the ability to learn organically, protecting users from identity fraud while enabling a seamless user experience. By removing the burden of identity verification for its customers, they can focus on scaling their business without the compliance and operational overheads.

“With OCR Labs we set out to develop an identity verification solution, from scratch. The birth of IDVerse means we’re now ready to go to the next level to make user verification effortless with Zero Bias AI™,” said John Myers, CEO at OCR Labs.

“Our diversity of background, skills, and experience allows us to build the future of identity verification – a single point of access for everything your customers want to do online, across all devices, everywhere in the world they happen to be.”

OCR Labs was the first Australian private company to be accredited as an identity provider to operate outside of the Australian Government’s Digital Identity System under the Trusted Digital Identity Framework (TDIF). It has also gained accreditation from the UK’s ACCS for its API for age verification services.

“As the world evolves into a digital future, IDVerse is the most universal, diverse and secure solution to identity verification, and we’re on a missionto make the digital future secure and accessible for everyone, from everywhere in the world, anytime as needed,” says Myers.

OCR Labs can extract information from and verify the legitimacy of any identity document in the world. That information can then be checked against local government and credit bureau databases in real-time.

Once this has taken place, IDVerse can then verify that the person presenting the document is alive and well and owns the document being presented, known as “liveness”. This is a fully automated process powered by AI, a step change from the standard procedure of using agents/call centres as the processing mechanism.

The company is continuously building the future of IDV guided by three principles:

  • Diversity – proprietary Zero Bias™ AI guarantees that each individual is seen for who they are, regardless of the shape or colour of their face, is recognised with 99.99% confidence, 0% bias. IDVerse sees more of what makes us human, to create an online identity that is reliable, real and trustworthy.
  • Universality – with a single point of access, the 100% purpose- built AI solutions make the IDV frictionless, secure point of entry to the digital space for everything customers want to do online, across all devices, regardless of geographic boundary.
  • Versatility – Powered by AI, IDVerse is built to respond and adapt nimbly. There is no once-and-for-all for IDVerse; whenever threats arise, we areready to react and rise to challenges, always staying a step ahead with identity intelligence in motion.

With offices in London, Silicon Valley, New York, Istanbul, and across Australia, the company and its operations will remain the same under the new identity.

ENDS

For more information, please contact: Evelyn Yang Senior Account Manager moc.u1713494718stned1713494718@gnay1713494718.nyle1713494718ve1713494718

About IDVerse

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™ 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, OCR Labs Global 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/newname/

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