Inverid launched to extend ReadID NFC ID document scanning with face biometrics
The success of ReadID has prompted InnoValor to launch a new company to expand its digital identity verification capabilities, including with biometrics, and serve the global market.
Inverid is the rebranded identity verification side of InnoValor, with the consultancy side of the business now known as InnoValor Advies.
The NFC-based identity document verification that ReadID was developed for remains at the heart of Inverid, but the company has now grown beyond reading and verifying chipped ID documents, according to the announcement.
ReadID now orchestrates with biometric face verification, identity document capture, and fraud signals analysis. Inverid also develops off-the-shelf identity verification apps.
“The new name underlines a new phase in our development,” says Inverid Co-founder and CMO Wil Janssen. “When the needs of our customers comprise more than NFC-based identity verification, we are able to fulfil those needs better through partnerships and product innovation. Our scope has widened beyond reading chipped identity documents.”
ReadID was launched on Android in 2014 as the first NFC app rolled out worldwide for remote identity verification, and on iPhone in 2019. The company says its technology is scalable globally, and based on ICAO’s current standard for biometric passports.
For its current resellers, little changes, the company says.
The combination of NFC scanning and face verification makes identity fraud nearly impossible, according to the announcement.
Inverid Co-founder and CEO Maarten Wegdam says the company is currently focussed on growing its product portfolio and revenue. The company has opened offices in the UK and is currently opening a tech hub in Valencia, Spain.