OCR Labs to identify as IDVerse, reflecting changes in digital ID verification
IDVerse is the new name for digital ID verification provider, OCR Labs Global, marking a new chapter for the Australian company as they adapt to changes in the global digital ID landscape and evolving fraud techniques.
“With OCR Labs we set out to develop an identity verification solution, from scratch,” said John Myers, the company’s CEO, in a company release. But advances in AI technology and synthetic media mean fraud has pushed the company’s initial namesake, Optical Character Recognition, into the background of digital ID verification (IDV).
IDVerse offers a more contemporary suite of tools, including biometric verification and liveness detection, document verification, and video KYC. It foregrounds the company’s proprietary Zero Bias AI technology, which uses deep neural networks, full-spectrum skin tone recognition and natural vision processing (NVP) to minimize discrimination on the basis of race, age and gender, and claims 99.99 percent accuracy in testing. Generative AI makes the process fully automated for clients.
“As the world evolves into a digital future, IDVerse is the most universal, diverse and secure solution to identity verification, and we are on a mission to make the digital future secure and accessible for everyone, from everywhere in the world, anytime as needed,” said Myers. The company lists its trinity of core principles as diversity, universality, and versatility, and says it is committed to building a single point of access to provide a frictionless experience “for everything customers want to do online, across all devices, regardless of geographic boundary.”
While the new name reflects the company’s commitment to human-centric technology, they say operations will remain unchanged across their offices in London, Silicon Valley, and Sydney. According to a blog post on its website, “IDVerse will continue to provide the same, high-quality, tested identity verification technology that its customers have come to expect from OCR Labs. The company’s contact information will be updated to reflect the new name.”
Founded in 2014 in Australia as a research firm, and launched commercially in 2018, the former OCR Labs was the first private Australian company to win accreditation as an identity provider for operations outside the government’s digital ID system. Its client list includes BMW, Vodafone and other major corporations. Last month, it took heat for an alleged data breach that exposed personal financial information – but clapped back to deny that a breach had occurred, and fixed the vulnerability.