OneSpan Identity Verification
OneSpan
OneSpan Identity Verification provides access to a wide range of global identity verification services, all via a single API. Designed to help financial institutions acquire more customers, reduce abandonment, and mitigate fraud, OneSpan Identity Verification is configured to your requirements, providing the right level of identity assurance for your unique workflow and use case.
Digital transformation has further accelerated due to COVID-19, Financial Institutions now face higher customer expectations in terms of speed and convenience of the onboarding journey. Data breaches rendering Knowledge Based Authentication and static identity checks obsolete and regulatory requirements (e.g., AML, KYC, eIDAS) force banks to seek document-centric solutions that can provide a higher level of identity assurance compared to data-centric approaches of the past, and more globally, to grow online and mobile delivery channels for customer acquisition .
Name matching
Increase match rates, reduce friction, and fight fraud. Common problems with document verification include names with accents, special characters, or married/maiden names.
Workflow management
Automate and enforce business rules throughout the digital customer journey. Every use case is unique, provide customers with the right level of identity assurance without sacrificing the CX.
Single audit trail
Access a single audit trail for all events in the identity verification and e-signature transaction. Demonstrate enforceability in the event of an audit.
General information
How it works
Document capture
Customer starts account opening process and is asked to capture images of their Identity Document using the camera on their mobile phone. Document verification technology performs image quality checks on the captured image(s) to ensure they are of sufficient quality.Document analysis
The captured image(s) of the ID document are sent for verification. The image(s) are analyzed using AI, data points are extracted (e.g., name, expiry date) and the Identity Document is verified.Biometric verification / facial comparison
User is asked to take a “selfie” image. Liveness Detection asks the user to smile, blink, or nod their head. Images are analyzed and compared for similarity.Final decisioning
The account opening solution receives the results, performs several data matches, and decides whether to allow the end-user to continue. The account opening solution sends a notification on the decision.
