Given that there are so many different eKYC solution providers, each with a distinct set of features and specializations, choosing the best one might be challenging. The well-known eKYC solution provider will be covered in this article. Since each seller has advantages and disadvantages, SmartOSC won’t rank them according to quality. Instead, we will highlight each product’s distinguishing features so you can choose which is best for you.
The eKYC solution provider of SmartOSC is primarily focused on developing eKYC software for banks and other financial institutions. Customers may correctly and automatically verify and extract data from images and documents with the aid of their technology.
A completely integrated digital experience may be created by businesses using OCR, face matching, vividness detection, and Artificial Intelligence (AI) integrated technologies. Online ID verification for SmartOSC customers only takes a few minutes. After that, customers won’t need to go to physical branches to open an account.
Our SmartOSC solution guarantees regulatory compliance and fraud detection for customers with a combined database of CIC, Personal Income Tax, and Social Security.
An expert in identity verification and anti-money laundering (AML) technology, Acuant offers eKYC solutions.
The distinctiveness of Acuant is in its emphasis on the compliance component of eKYC solutions. They have a group of multilingual professionals that can assist you with KYC laws and compliance in many nations.
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Additionally, their solutions use AI/ML to guarantee accurate outcomes and minimize human participation. Acuant has the drawback of requiring you to install extra software on your computer.
For businesses and governments, Innovatrics offers eKYC solutions based on biometrics. Innovatrics is the best option if you want to see what top-tier biometrics technology looks like. Their algorithms are acknowledged as having the highest accuracy rate on the market at 99.98 percent.
Their products include DOT (digital onboarding), SmartFace (Facial Recognition Platform), ABIS (biometric identity management), and OEM Solutions (fingerprint and facial recognition platform).
Innovatrics’ eKYC solution provider has a modular design, which makes it simpler to modify, add more modules, or update as needed. You can interface with other systems to prevent vendor lock-in thanks to their ready-built Open APIs.
A German company called IDnow offers eKYC solutions. Since the General Data Protection Regulation (GDPR) originated in Europe, IDnow is unrivaled in terms of security. IDnow, in particular, got praise from the European banking industry and other groups that have serious security concerns as a result of its emphasis on data protection.
Their primary eKYC solution provider is IDnow AutoIdent. With conversion rates of up to 90%, user ID verification takes just a few minutes. Similar to IDnow VideoIdent, IDnow Bankldent is an AML screening solution through bank transfers, whereas IDnow Bankldent is an ID verification service via video chat.
The three primary eKYC solutions offered by IDnow are IDnow Bankldent, IDnow Videoldent, and IDnow AutoIdent. IDnow does not disclose its price. They invite prospective customers to get in touch with them for further information and a free trial.
Another vendor of eKYC solutions that makes use of AI/ML and biometrics is Jumio. Their products are made for a variety of sectors and application situations. Jumio’s eKYC solution can satisfy your demands whether you work in banking and finance, government, gambling, healthcare, education, hospitality, etc.
Clients of Jumio claim that their products are simple and easy to use, and they often provide results quickly. Security and user experience are balanced since it doesn’t take very long to upload the necessary files/images.
Jumio’s eKYC solution provider should also be taken into account since they are reportedly lightning sensitive. Even when the light is not too terrible, it sometimes requires users to repeat the authentication procedure.
It is obvious that no two eKYC solution provider systems are the same. The one that provides end-to-end solutions often has high costs. On the other hand, companies that claim to provide inexpensive solutions could have restrictions on customization or integration, both of which are necessary for expanding. If you have any questions or would like additional information, please contact SmartOSC.
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