As a kid, I remember my dad keeping a file of all important documents in one place. This file would contain everything from passport to ration cards to insurance paper etc. This was the most important file in the house.
Every-time my father had to submit one of the these documents for verification, he would ask me to run to the nearest Xerox store to fetch multiple copies. 20 years later, I applied for a car loan and I had to go through the same process of running around making xeroxes. However, I am not my father, I am not half as organized as he is neither do I have one file for everything.
In the last 20 years so much has changed. I personally changed 5 smartphones, 4 laptops and one smart watch. But, the process of user verification hasn’t changed much. There has been a slight shift in the process from paper submissions to digital uploads but the process for back-office verification remains the same, manual.
Companies take days to verify your documents and if you uploaded a wrong document or even if the upload quality was bad, companies take 3–4 days to even let you know that you need to re-submit your documents. For someone who belongs to the generation infamous for our low attention spans, these processes feel painful and unnecessary.
Now, to be fair organisations don’t have it easy either. They do employ 100s of manual verification teams to handle the scale but the processing time for each customer remains the same.
So is it possible to stay compliant and secure while providing a frictionless user experience?
Well yes, cause we built a solution that does just that.
Allow me to introduce you to Verizy, world’s most convenient user onboarding and verification service. We help products with first level screening of users to ensure they are legal, eligible and verified, within seconds.
We can automate and reduce the identity verification process to minutes even seconds with high accuracy of image classification combined with OCR based extraction. With access to government databases including Aadhaar we have made the process more secure for the organisations and the end user. Our biometric facial recognition is a great replacement for IPV, but more about that in detail later.
If someone would have said to me, we would process 5+ Million API calls/month within 3 months of our launch, I probably wouldn’t have believed them.
But here we are and we just did that, while also reducing user onboarding costs by 60% for our clients.
Check us out at www.verizy.ai . Keep an eye out on this space, we have many more stories to share.