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Wednesday, September 28, 2022

Introducing the future of digital identity

Imagine arriving at the airport for a vacation or business trip without your passport, credit card, or physical identification, and still being able to board a plane, rent a car, and check in at a hotel.

This is the vision of next generation identity solutions provider Incode Technology, which uses artificial intelligence to transform the way we travel, bank, shop and live across Europe and beyond.

“Identity is one of the most primitive industries out there,” says Ricardo Amper, founder and CEO of Incode. “Your money, your will, your health information… everything depends on a physical piece of paper or plastic and it was invented by the Egyptians 3,000 years ago.”

“We can apply artificial intelligence, computer vision and facial recognition to create fully automated digital identities that can generate much more trust than a piece of paper. We feel there is a need to recreate the identity.”

There is a reinvention under consideration due to the Inode Omni platform, which uses passive living technology, expert facial recognition and advanced deep learning techniques to revolutionize the way humans verify their identities and interact with the world’s biggest companies. Is.

Today, Incode Omni flourishes in financial institutions, governments, markets, hotels and hospitals around the world, turning its customer interactions into seamless, touchless user experiences.

In just seven years, the San Francisco-based company has established partnerships with some of the world’s largest markets, governments, hotels, fintech companies and banks, including Jumeirah Group, Citi and Rappi, with products focused on payment integration, authentication and verification. Are included.

And now, with 80% of Europeans using smartphones and with this number projected to grow to 85% by 2025 according to Statista, Inode is not only going to drive smart transactions, but will also drive massive social change.

Inode: Providing a privacy-focused user experience

Since businesses hold our most valuable information and resources, every transaction in today’s marketplace must use the right technology to ensure that consumer data is secure and private.

Incode uses a combination of AI and machine learning technology to create an identity verification process that ensures privacy and security, as well as eliminates the need for documentation.

By using biometrics as the primary means of verification, authentication is simplified while maintaining the high level of security that organizations and individuals have come to expect.

To date, Incode has reduced fraud attempts by up to 99% through the use of advanced risk measurement techniques such as ID card activity detection, biometric facial profiling, and data mismatches.

“All platforms are fully consented and users have complete control,” says Amper. It is up to each individual to decide how to use it for maximum safety and ease.

eliminate friction from start to finish

Every bank, credit union, stockbroker, or other financial institution must strictly adhere to Know Your Customer (KYC) rules when integrating apps, which have traditionally been a lengthy and complicated process… until now.

Today, Incode meets all the required criteria, meets government regulations to quickly enroll customers, while significantly reducing the risk of fraud.

Incode enables financial institutions to effectively collect customer data from their identities, verify their identity documents, authenticate facial biometrics and identify any potential security risks up to 5 times faster than traditional onboarding processes Is.

“Instead of going through a lengthy process to go to the bank and prove who you are, it will be a 30-second experience,” says Amper. «You go through the registration process only once, authenticate with a selfie and give your consent; You will be able to open a bank account in 30 seconds.”

“As with all economic activity, whether it is payments or opening a bank account, it starts with identity, so if identity is weak, so does the rest of the economic activity.”

“By creating a digital identity based on AI, we can develop more trust. With this kind of trust, there has been a lot of economic progress.”

So far, Incode has achieved a 40% increase in conversion rates and a 20% improvement in signup abandonment.

Above all, the simple and secure AI-based platform removes the friction in the financial sector and many other industries where a fast and seamless experience is paramount.

Changing the face of hospitality and travel

Whether you check in with a selfie, be greeted by a biometric scanning robot, or pay your bill digitally on your own, traveling with Incode is super easy.

Inode’s fully automated identification solution verifies guest identities even before they arrive at the property, providing a personalized experience from digital keys to room service.

In this post-pandemic era, the hotel industry is realizing the positive impact of technology on the guest experience and its potential to increase customer loyalty and provide additional revenue.

According to social research agency Blackbox Research, with 76 percent of hotel managers looking to implement a contactless experience by 2025, Inode is a big step in the right direction.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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