Jumio was an early mover with online identity verification services.
With a mobile device and a selfie, their system can check the person’s facial similarity to the ID’s photo, and certify active liveness to ensure the person is present in real-time.
Jumio leverages technologies like machine learning, and certified liveness detection to streamline the identification process, observe due diligence to regulatory compliance, and deter fraud risks across a multitude of industries.
However, as Jumio also relies on manual inspection by verification personnel to inspect and compare ID documents to known ID templates, they may be susceptible to processing delays, human error and matching inconsistencies. Some also noted that their products are highly sensitive to lighting, prompting users to redo the verification process multiple times, which causes inconvenience.
Other users noted aspects that can still be improved with Jumio’s products, including verification time and its built-in search function, which most find tedious to use.
Moreover, small businesses may find their pricing intimidating as the tech company is designed to cater to bigger enterprises, and often requests a high volume of requirements.
Many businesses try to find the ideal provider for their identity verification and ID document authentication needs. To those looking for an alternative to Jumio, the best options are listed below:
authID
authID offers a global Identity as a Service (IDaaS) platform that allows industries worldwide to remotely verify a person’s identity using a government-issued ID seamlessly. Key to the authID platform is the ability to help enterprises eliminate the fear of fraud across the customer engagement with support for FIDO-certified strong biometric authentication, Passwordless login as well as step-up identity validation for high-risk transactions.
Harnessing mobile technology, anti-spoofing, and liveness confirmation, as well as biometric matching of a selfie to verified credentials, authID offers one of the fastest, lowest-friction solutions in the market. Delivering accuracy and trust is the key value with the deployment of a facial algorithm ranked #1 in June 2020 NIST testing for the applicable data set.
The platform allows enterprises to step up trust and identity certainty with fully automated identity document validation and no reliance on manual inspection. authID authenticates encoded barcode data of all US, Canadian, and Mexican driver’s licenses using a fast, 99.9% accuracy algorithmic technology.
authID’s platform offers connections to external government registries for the fastest and most accurate way of validating identity. Support of over robust, automated credential validation of 1500+ government IDs and non-chip passports from 200 countries is on the company’s roadmap.
The company also provides FIDO-certified strong multi-factor authentication that allows companies to deliver Passwordless login as well as meet the requirements of payments regulation (e.g. the PSD2) and privacy laws (such as GDPR). From onboarding to platform access and transaction authorization, their identity proofing and authentication solutions ensure that the person using the services is the legitimate identity owner.
authID also offers flexibility for customization to help clients find the solution that best suits their preferences. Enterprises can enjoy broad user orchestration across mobile devices, desktop, and web-browsers, as well as User Interface SDKs that allow integration of the authID’s identity solutions directly within the enterprise’s own mobile app.
Onfido
Onfido is one of the leading online facial biometrics verification solution providers, assisting establishments in onboarding customers and employees. Their mission is to help enterprises expand their customer base, minimize friction, prevent identity fraud, and secure privacy.
They implement the same selfie and ID document approach by using camera-enabled mobile devices to prove users’ identity and check the legitimacy of their government-issued credentials. Their system uses a hybrid authentication model, which combines artificial intelligence and human experts in their identification methods.
However, small business owners and startup companies may find their prices challenging. Some users often request for a more straightforward estimate of service costs from the provider.
Moreover, others noted some aspects of Onfido that still need improvement like their document verification process, which sometimes rejects authentic documents even after several uploads.
Trulioo
Trulioo is a Regulatory Technology (RegTech) provider whose identity verification solution is explicitly created to help establishments comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, among other regulatory requirements, globally. Trulioo caters to various organizations, especially those in the financial, e-commerce, retail, and gaming industries.
Their flagship product, GlobalGateway Identity Verification, integrates a single API connection for systems to access the identity data and services they need online. It is mobile-friendly and customizable to fit clients’ risk levels for optimal results. It also offers detailed audit trails of identity verification transactions, helping businesses keep up with industry trends and gain opportunities for optimization.
However, Trulioo’s identity proofing solution has a constrained AML scope and document verification check.
The RegTech provider can be very strict when requesting a demo and often requires a signed document. Moreover, small companies may be intimidated by their prices, which can limit clientele.
Shufti Pro
Shufti Pro is the youngest of the names listed in this post. Its API-based identity proofing services authenticate a user’s identity and credentials in real-time for frictionless transactions, sign-ups, and access. They are based in the UK and cater to a global clientele, including the US. However, they do not have a physical presence in the US.
They offer many features for identity verification, such as QR codes, IP, and geolocation.
Their RegTech solutions include:
- KYC – Identity Verification
- AML Screening
- Facial Biometric Authentication
- Know Your Business
- Video Interview KYC
- OCR for Businesses
They use augmented intelligence for identity verification and ID document authentication, meaning they combine human and artificial intelligence as part of their proofing process. Moreover, they claim to have an identity verification speed of 30-60 seconds with a 98.67% accuracy.
While Shufti Pro provides an AML solution, this particular technology is restricted to screening only and lacks a definite risk assessment feature. Some users noted that Shufti Pro can still improve their OCR.
Socure
Socure is another identity verification option that operates on a single API and automates the proofing process by leveraging artificial intelligence and machine learning.
Their modularized platform streamlines customer onboarding while providing enhanced security to mitigate fraud and ensure regulatory compliance.
As this provider also utilizes machine learning, it may be vulnerable to the disadvantages of this technology. Some users have noted that their solutions still need improvement, especially when it comes to the user interface.
Conclusion
With identity fraud and malicious account takeovers on the rise and stringent regulatory compliance requirements evolving, firms across numerous industries must employ necessary security measures and leverage stronger identity verification technology to their advantage.
Numerous identity verification solution providers are available in the market, and enterprises must choose the solutions that best suit their needs and operational capacity. Working together with a technology provider that provides effective identity verification, identity document authentication combined with strong FIDO multi-factor authentication solutions across one platform, can help organizations maximize their investment, streamline business operations and reduce fraud.
By deploying trusted identity proofing technology, businesses can also expand their customer base and increase their revenue generation capacity.
Schedule a Demo with authID
authID.ai is a provider of an Identity as a Service (IDaaS) platform that delivers a suite of secure, mobile, biometric identity solutions, available to any vertical, anywhere. With authID‘s solutions, numerous industries can securely and efficiently verify the identities and ID documents of their customers and employees, as well as seamlessly verify that trusted identity across the customer engagement. Contact authID today at +1 516 778 5639 or click here to schedule a demo.
References:
https://www.ventureradar.com/organisation/Jumio/5cbbb01b-8955-406a-8572-7f6474387483
https://www.ventureradar.com/similar/Jumio/5cbbb01b-8955-406a-8572-7f6474387483
https://www.owler.com/company/jumio
https://www.ebool.com/alternatives/jumio
https://www.g2.com/products/jumio-identity-verification/competitors/alternatives
https://www.marketsandmarkets.com/ResearchInsight/identity-verification-market.asp
https://www.360quadrants.com/software/identity-and-access-management/socure
