IDnow, a leading provider of identity verification platforms in Europe, announces the extension of the compliance of AutoIdent in combination with qualified electronic signature (QES) with its trust service provider Namirial. The compliance extension has been approved by the Italian Digital Agency (Agenzia per l’Italia Digitale, AGID) and is valid for the European Union.
The compliance extension, which comes about a year after IDnow first enabled an automated identity verification solution for highly regulated use cases, includes the approval of two innovations: First, IDnow received approval for fully automated, AI-based identity verification, which does not require mandatory manual verification through an identification agent. This is made possible by the quality, security and reliability of the automated fraud prevention checks, which improve the customer experience with real-time results.
The extension makes the IDnow AutoIdent product with QES the first AGID-approved product valid in the European Union that can issue QES certificates solely based on end-user data collected in a self-driven identity verification process – using fully automated, AI-based fraud prevention. The solution can be used in most EU countries according to the 5th and 6th AML directives of the European Union. Under these directives, the EU established and expanded Know Your Customer (KYC) identification methods for remote onboarding and crime enforcement. The aim of this is to align the European internal market around financial services. The result of harmonizing remote onboarding methodologies enables IDnow to offer the financial services and banking sectors a unified means to meet their AML obligations, streamline those investments and conduct business across borders in a more consistent manner.
The second part of the approval concerns the use of NFC technology according to ICAO 9303, an international standard that defines specifications for machine-readable travel documents (MRTD) issued by the International Civil Aviation Organization (ICAO). As part of the automated identity verification process, IDnow may use NFC technology to read embedded chips from compliant ID documents.
These innovations result in one of the fastest and most secure processes on the European market while significantly increasing conversion rates.
Milestone for identity verification based on AI algorithms
“This is not only a big step for IDnow as a leader in identity verification but also a milestone for identity verification with artificial intelligence algorithms in general,” says Johannes Leser, Vice President of Trust Services at IDnow. “Based on this compliance extension, our AutoIdent product with QES technology provides reliable data validation and fraud prevention, providing the right level of security in the highly regulated space.”