FB pixel

Mitek ID verification solution improves Nocks onboarding time by 98 percent

 

Mitek has announced that European blockchain provider Nocks has improved its customer onboarding time by 98 percent, from 12 hours to five minutes, by utilizing Mitek’s Mobile Verify government ID verification technology.

Mobile Verify has helped Nocks comply with the fourth and fifth EU Anti-Money Laundering (AML) Directives, while its userbase has grown by 214 percent since integrating Mitek’s technology.

Nocks, which uses the Gulden blockchain to orchestrate transactions, can validate the identity of applicants in real time with Mobile Verify’s AI and machine learning algorithms, improving customer conversion rates, according to the announcement. Users take photos of an ID document and their driver’s license with their cellphones, and after Mobile Verify validates the documents as genuine and unaltered, the user is granted access to a range of payment options.

“There is no doubt that blockchain technology will transform the financial services industry,” said Rene Hendrikse, Managing Director for EMEA at Mitek. “By introducing digital Know Your Customer (KYC) checks, innovative fintech companies like Nocks can demonstrate that the blockchain is not only transformational, but safe and secure for customers and the wider industry alike.”

As previously reported, Mitek formed a partnership with Asignio in October to provide a complete identity-as-a-service (IDaaS) solution.

Article Topics

 |   |   |   |   | 

Latest Biometrics News

 

Could be 25 years before TSA gets facial recognition in all US airports

The Transportation Security Administration (TSA) foresees significant delays in implementing facial recognition across U.S. airports if revenue continues to be…

 

Single solution for regulating AI unlikely as laws require flexibility and context

There is no more timely topic than the state of AI regulation around the globe, which is exactly what a…

 

Indonesia’s President launches platform to drive digital ID and service integration

In a bid to accelerate digital transformation in Indonesia, President Joko Widodo launched the Indonesian government’s new technology platform, INA…

 

MFA and passwordless authentication effective against growing identity threats

A new identity security trends report from the Identity Defined Security Alliance (IDSA) highlights the challenges companies continue to face…

 

Zighra behavioral biometrics contracted for Canadian government cybersecurity testing

Zighra has won a contract with Shared Services Canada (SSC) to protect digital identities with threat detection and Zero Trust…

 

Klick Labs develops deepfake detection method focusing on vocal biomarkers

The rise in deepfake audio technology has significant threats in various domains, such as personal privacy, political manipulation, and national…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events