ZignSec's SaaS solution for a stellar online ID verification process is now even better

ZignSec has upgraded its SaaS offering for a complete remote identity verification process, rendering it more convenient, accurate and quick for online customers and businesses, featuring a level of security equal to that of state border authorities. Furthermore, our upgraded portal provides complete control and a detailed overview of extracted identity data and verification process results.

Enhanced document capture and assessment capabilities worldwide

ZignSec's upgraded SaaS solution for a complete online ID verification process allows customers to scan and submit documents digitally from anywhere in the world through any web and camera-enabled device. In addition, thanks to our enhanced document capture and image quality assessment technologies, which help users take perfect pictures of their IDs, the average percentage of users who need to retry and re-capture their document is now at a low rate of 5%. According to the vendor survey in the 2022 Gartner® report “Buyer’s Guide for Identity Proofing”, the average percentage of users who need to retry and re-capture their document image is 7%.

Backed by the world's largest document template database matching over 12,000 government-issued ID types from over 248 countries and territories, the software can instantly recognise and analyse nearly all the documents in the world, including the rarest ones. The technology then automates the extraction of information from the submitted ID document, a fully automated process that eliminates human error and expedites verification.

An automated authenticity assessment process begins with an unrivalled variety of data checks employing OCR (Optical Character Recognition) and AI-based techniques which helps spot inconsistencies and fraud. With an impressive accuracy rate of 99,7% according to internal tests, adding assurance to the identity-proofing process. Furthermore, MRZ (Machine Readable Zone) data is automatically extracted and verified within 150 milliseconds. Also, the upgraded language support constitutes an essential improvement to our SaaS offering for ID verification, now supporting 95 languages, including 38 non-Latin scripts.

Advanced Liveness checking included

Further, the process requests a live image of the customer to perform biometric analysis to ensure the customer is whom they say they are while executing liveness checking to ensure that a customer is a live person - not an imitation or a fake. Due to fast-improving deep-fake technology and the fact that bad actors will use such technology for financial gain, liveness checking is an increasingly essential part of digital identity verification. Before the upgrade, we provided liveness control only as a stand-alone offering; now, our complete ID verification solution includes reliable and intelligent face recognition and liveness detection. The liveness check included in our solution shows excellent performance, enabling convenient and reliable face-capture capabilities in almost any ambient light conditions. The average selfie retakes rate for Liveness detection solutions offered by RegTech vendors is about 3%, according to the 2022 Gartner® report vendor survey. ZignSec's solution performs even better thanks to its detailed guidance during the selfie process; the chances that a person needs to retake their photo are close to 0%.

And the cherry on top: The Portal

The few actions and procedures required by our SaaS solution for a comprehensive online ID verification process are quick and straightforward, with real-time guidance on the customer end. On the business end, the results are delivered with extensity, accuracy, and lightning speed to the ZignSec portal. Any company using the service can log into ZignSec's new enhanced customer portal anytime to check and manage the outcomes derived from the SaaS-implemented identification process in detail. In addition, all the KYC tools businesses need to meet regulatory requirements within and across jurisdictions are at their fingertips. Our clients can easily access and explore the various product- and service offerings available in ZignSec's aggregation platform via the portal and effortlessly scale their SaaS use up according to needs. The portal has also been upgraded to provide affiliated clients with a "control panel" for an improved overview of their users and customers, transactions and payments and easier management of onboarding flows.

In today's highly competitive online market, where speed and accuracy are the key differentiating factor for customers to be willing to spend their money on a service or platform, ZignSec's upgraded SaaS solution for a fully automated identity verification process, in combination with the portal is undoubtedly an attractive offering to any serious business. We assess our offering as the quickest and most reliable way for an online business to confirm an individual’s identity and protect themselves and their customers from fraud, speed up the onboarding process, enhance the customer experience and achieve steadfast KYC compliance.