ID R&D is recognized for breakthroughs in document liveness detection, with a groundbreaking product that leverages AI to make digital onboarding more secure.
The Business Intelligence Group named recipients of its 2023 BIG Innovation Awards, and ID R&D is honored to receive the recognition with our IDLive Doc product. This annual business awards program recognizes organizations, products, and people that are bringing new ideas to life in innovative ways.
IDLive Doc is used as part of a digital identity verification process to detect when fraudsters attempt to present an image of a document displayed on a screen instead of one in their physical possession. The product has applications where security is of paramount importance, from financial services to education.
Trillions of dollars have been invested in government-issued identity documents. They are essential to verifying identity for a variety of use cases in the private sector from international travel to banking. Increasingly, these use cases include a remote, unsupervised process of digital identity verification using mobile devices and their cameras, and IDs are equally important to performing this process reliably while affording an applicant great convenience. The process is simply not tenable if fraudsters can simply present a digital image of a fake or stolen ID instead of a physically present ID. Screen replays are arguably the easiest type of attack to perpetrate, yet difficult to detect. Filling this security gap makes secure digital services possible and allow firms to reach customers otherwise unreachable.
Digital banking is an important application of the technology. Helping enable secure and convenient digital banking is particularly impactful for individuals in unbanked and underbanked communities globally. Data shows that from 10-20% of document fraud is caused by document spoofs. IDLive Doc has now been used tens of millions of times in production systems and has been extensively tested on real-world fraud data. These tests show a remarkable 42% reduction in the number of fraudulent documents missed by their system. That’s 42% fewer fraudulent onboardings that would have otherwise been passed through the process.
About Business Intelligence Group
The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, these programs are judged by business executives having experience and knowledge. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.