Acuant’s Identity Solutions Power Innovation, Disruption in the Sharing Economy
Acuant, a leading provider of data capture and identity verification software globally, today announced a partnership with Boro Technologies Corporation (Boro), a peer-to-peer sharing platform that enables users to rent power tools and other popular home items from peers in local communities throughout North America.
Boro offers its customers low rental prices for high cost items by leveraging a peer-to-peer sharing model, reducing transaction and overhead costs compared with traditional rental arrangements. For owners, Boro creates an immediate opportunity to generate income for unused or lightly used assets, while leveraging a flexible work schedule. For renters, Boro offers a convenient and user-friendly platform that provides the popular items they need at a fraction of the cost of ownership.
In a recent survey of 1,000 individuals ages 18-26, Boro found that 72% of respondents expect to participate in the sharing economy in the next two years; 86% say it makes “life more affordable”; and 89% agree it is based on “trust between providers and users.”
Boro will leverage Acuant’s AssureID™ solution to efficiently register and validate the identity of users on its platform. AssureID provides secure and frictionless transactions for Boro customers by extracting the data from IDs, such as driver’s licenses, and authenticating it in one easy step. Users can register on Apple and Android devices and capture their IDs to be accepted as Boro members.
“We are committed to providing a safe environment and an outstanding user experience for our customers,” said Arvin Bhangu, CEO of Boro. “Acuant, a trusted market leader in identify authentication, helps us build a community of trust with our customers as we launch our platform throughout North America.”
Steve Maloney, EVP Business Development & Strategy of Acuant, further states, “Given the fast growth of the sharing economy, Acuant has recognized and met the need for user friendly mobile ID verification with several offerings and is pleased to have been chosen to help Boro grow their customer base.”
Boro changes the way you access the things you need. This unique service is packed with amazing products to use whenever you need – from tools you need to start a home project to drones that you can fly on your time off. Book private products from others around you or list your own. Boro is fun, fast and secure.
Acuant Inc. is a global technology company that provides comprehensive Identity Verification solutions responding to various levels of risk and assurance requirements. Utilizing patented technology Acuant transforms data intake into a business-enhancing proposition while instantly reducing the risk of fraudulent transactions.
Acuant’s intelligent engineering is made to work in any industry in any environment with compatibility for Windows, iOS, Android, Hybrid and HTML 5- and built to allow meeting the highest level security requirements and regulations such as KYC, PII, HIPAA and AML. Partners include start-ups, Fortune 500 and FTSE 350 organizations.
For more information, please visit acuantcorp.com
Lumina Communications for Acuant Corp