How Identity Verification Technology is Changing the Auto Industry, from Rentals to Car & Ridesharing Services

A Better Car Rental Experience with Fraud and Theft Protection

When it comes to renting a car, the first thought people have is of long lines and annoying paperwork including photocopying of IDs and insurance cards. It is not a pleasant experience, but one that most will justify going through for the outcome. Smart rental companies are realizing that in order to retain and attract customers, they need to make this experience faster and less painful. Today, consumers have many choices that compete with rentals.

Technology that automates the intake of ID documents like driver’s licenses and insurance cards, speeds up the process and protects businesses. Simply scan an ID to auto-populate the information into CRM or Dealer Management Systems and store data and images of the ID, no photocopies or pages of paperwork needed. With mobile devices, businesses can offer rental cars from any location or even drive the vehicle to the customer.

Another benefit to the rental companies is the protection ID verification provides. In the same swipe or mobile capture of an ID, the license can be verified in seconds to ensure that it is not fake and the driver is who they claim to be. This prevents fraud by catching fake IDs and provides a copy of the license image on file which is needed in many states to submit claims for stolen vehicles. Rental theft can be very costly and is often accomplished with only the aid of a fake ID.

Easy and Secure Car Sharing

The car sharing market continues to grow as many would-be car owners in cities and urban areas feel it is more economical and even more environmentally friendly to opt for a service such as Zip Car. Drivers can simply pick up vehicles they locate on a mobile app and can drive them to a destination for easy drop-off.

ID verification allows for quick and easy onboarding of members for such service providers. They can verify the identities of their users, ensure that a license is valid and have their ID images and data on file. Facial recognition match or other biometric technology can then be used to unlock cars at their pick-up location. The process is easy, fast, convenient and most importantly, secure. Businesses can protect their fleet and know who is driving their cars.

Safer Ridesharing Services

Another extremely popular form of transportation is ridesharing services such as Uber and Lyft. New services are popping up worldwide due to the convenience and ease of use this model provides. Users simply access a mobile app for on-demand service, but the service is not without pitfalls as evidenced by many stories of rides gone bad. This can be due to a bad customer or a bad driver. In both cases, it is important to know the identity of both parties.

Ride Sharing companies must properly identify their drivers and know who is providing services at all times. ID verification technology allows for this with proper validation for customer onboarding and proper validation and screening of drivers. Riders should also provide proper ID when signing up so that drivers will always know who is in the car with them should any trouble or danger arise, and drivers should have to initially and continually prove their identity. A preliminary check will catch fake ID’s and continual checks for drivers via biometrics such as facial recognition match, can ensure that the driver is who they claim to be throughout service times.

Acuant Announces 3 New Auto Partners

Navotar

Navotar is a worldwide provider of fleet management software for rental companies, dealerships, and automotive manufacturers. Through this partnership, car rental customers will now be able to do a quick scanning of passports and driver’s license for data extraction into Navotar customer management systems, while at the same time verifying their validity in seconds. Acuant optimizes operations and provides an additional layer of security against fraud.

Working in real time, the partnership eliminates manual screening errors, speeds up the document inspection process and significantly reducing employee training, operating costs and customer inconvenience.

Clutch Technologies

Clutch’s vehicle subscription platform provides the automotive industry with an innovative and scalable way to enable vehicle subscription access. Clutch chose Acuant’s patented technology to authenticate driver’s licenses. As part of the verification process, Acuant extracts biometric and alphanumeric data from IDs and applies 50+ forensic tests instantly. Clutch will also perform facial recognition match to validate users. Acuant FRM is as easy as taking a selfie and comparing it to biometric data contained in the government-issued ID. Results are given in seconds, comparing the face biometrics of a selfie to the image on the ID and include a liveness detection test to prevent fraudsters from using static images by ensuring that a live person is in front of the camera.

 

Pony Car Sharing

Pony Car Sharing is Romania’s first and largest car sharing service. Offering flexible pricing models, cars are parked on the street where users unlock them with mobile phones and can track them in real time on the app. Pony Car Sharing chose Acuant to verify members during onboarding, automatically capturing and validating identification information. Identity information will then accurately auto-populate the Pony Car Sharing database. This eliminates manual entry, photocopying and paperwork. Pony Car Sharing will also employ facial recognition match for stronger authentication. Customers using the Pony Car Sharing app can be remotely authenticated and unlock cars with their mobile phones.

To learn more about Acuant Solutions Book a Meeting today!

 

 

5 Reasons Why Every Business Needs Identity Proofing Solutions

Securely gathering information from customers and verifying the identities of those who provide it is becoming a simpler task with the advent of identity proofing solutions. There are solutions that enable businesses to capture, process and verify customer information in a single step without compromising customer’s personal information.

Modern identity verification platforms combine hardware systems, software and even cloud-based solutions to make the verification process as easy as swiping a credit card. No more paper forms to fill out, no manual typing of information, no long lines and you can even conduct transactions remotely from your phone that once required a physical visit.

With major data breaches and hacking making headlines regularly (see the latest on Facebook), and identity theft on the rise, installing identity proofing solutions would seem to be a no-brainer. There are many cost-efficient, and even revenue enhancing options, that easily integrate into any environment in any industry.

Still not convinced? Here are 5 reasons why your business should be investing in identity solutions now.

1. Streamlined Processes, Greater Accuracy & Enhanced Operations Increase Revenue

Whether they are paper-based or computerized, using forms to gather customer information has its limitations. Customers spell things incorrectly, leave things blank or mistype information. Handwriting can be difficult to read on paper-based forms, leading to data entry errors. Even your own employees can make mistakes when typing information or merging it with other data in the system. Automating data capture and the filling in of ID data into electronic forms and into CRM systems and electronic customer records virtually eliminates manual input and error.

A simple swipe or mobile capture of a driver’s license, state-issued ID, passport, or other government-issued ID easily captures relevant information, populates the database, and verifies the identity of customers in a single step that takes seconds. This saves time, money and frustration by simplifying a formerly cumbersome process that led to high abandonment rates and decreased operational efficiency.

2. Better Customer Relationships Increase Satisfaction & Loyalty

By eliminating the annoying pile of paperwork that most customers fill out on their first visit and dramatically reducing keystrokes via computers and mobile devices, you can be one step ahead of the competition, making your business more customer-friendly from the start. Increase conversion rates and see abandonment rates rapidly decline.

Add to that the additional time you can spend with your patients, clients or customers when you eliminate the lengthy check-in process, and identity solutions become a great way to start customer relationships on a positive note leading to increased satisfaction and long-term loyalty.

Online, e-commerce and mobile app transactions will appreciate the streamlined process enables them to proceed through to checkout or complete ID verification with minimal input of information and effort, even using facial recognition match via a selfie for quick and easy access.

Finally, you’ll build trust with customers when you take the time to verify their information and assure them of their personal data protection. Customers will appreciate your attention to safeguarding their identity, building rapport and brand loyalty.

3. Increased Security to Protect Against Increasingly Sophisticated Attacks

With identity theft, major data breaches and hackings on the rise, it’s more important than ever to verify the identities of customers and other visitors that enter your physical business (store, facility, practice, or campus) and also digital ones (online stores, platforms, etc.). Identity proofing solutions can instantly verify the identity of any visitor on premise or remotely and ensure both customers and employees feel safer.

The integrated technologies of many identity solutions can give your business the ability to process and verify visitors quickly while capturing detailed information and images from visitor IDs, business cards, or passports. You can even instantly check against global watch lists such as OFAC and Interpol, or create your own to flag persons of interest.

4. Prevent & Deter Fraud

Identity proofing doesn’t just verify that the credit card or other payment method is valid. It also verifies the identity of the card user, effectively preventing transactions from lost or stolen credit cards.

By instantly verifying the identity of shoppers both in-person and online, you’ll decrease fraudulent transactions which lead to lost merchandise and chargebacks that cut into your bottom line.

The cost of fraud is staggering. The average organization loses 10% of revenue from counterfeiting and it has been estimated that the value of counterfeit goods globally exceeds 1.7 trillion dollars annually – over 2% of the world’s total current economic output.

5. Enforce Age Verification & Regulatory Compliance

Identity verification technology makes it easy to comply with legal requirements imposed by state and federal laws. For example, if you serve alcohol or sell other regulated products that cannot be sold to minors, instant ID verification enables you to verify the validity of an ID and verify the age of potential customers. You stay in compliance with the law, avoid costly fines and provide a seamless customer experience.

In other highly regulated industries, such as finance, institutions can quickly and easily comply with KYC and AML regulations without worrying about compromising their customers’ PII.

New verification technology is changing the way business is done for the better. Paperwork and manual entry errors are virtually eliminated, security is increased to prevent fraud, be compliant and meet regulatory requirements. This can all be accomplished while at the same time providing a better customer experience. It’s a win-win for everyone.

 

 

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How Machine Learning is Taking Identity Proofing Solutions to a Whole New Level

Artificial Intelligence (AI) enables computers to make human-like decisions, creating efficiencies that were previously unachievable. AI powers everyday technologies such as search engines, self-driving cars, and facial recognition apps. This technology is also leveraged for consumer identity access and management to protect consumers and businesses against fraud.

The Growth of ID-based Transactions

Banking, healthcare, government and many other industries employ ID verification and authentication to get accurate information about their customers and prevent ID fraud. As fraudulent transactions continue to rise, the need for a strong, customer-friendly identity proofing solution becomes critical.

Artificial Intelligence, and its subsets of machine learning and deep learning, make it possible to accurately process, verify, and authenticate identities at scale. Machine learning enables solutions to continually improve by learning from their data collection mechanism. This, in turn, informs the operation and performance of the software. For an in-depth look at machine learning and how it applies to your industry, read our latest white paper: Beyond Machine Learning.

Machine Learning for ID Proofing

Machine learning is an extremely efficient tool for discerning between real and fraudulent IDs. Computer software that is constantly learning and correcting itself can process millions of transactions at a rate unachievable by human experts.

However, IDs are physical documents that endure wear and tear, and may feature manufacturing discrepancies. If the model for passing or failing IDs is based on only a few samples, many real IDs will fail the test. This is where human oversight comes into play.

Machines and Humans Working Together for Highest Accuracy

Trained professionals using the software can step in to prevent bad customer experiences when the software flags a legitimate ID because it is damaged or worn.

During the rare instances where the computer fails to identify what is wrong with an ID, the professional can apply their expert eye, determine what error occurred and teach the computer how to spot the issue in the future. This creates a different method of learning where new information is being input to the learning model so the model can improve.

The benefits of machine learning combined with human expertise is the current standard in identity proofing solutions. Businesses want to be able to approve all good customers from the start with no friction. A good ID verification solution will do just that. In addition, when looking for a provider, businesses need to consider scope of expertise. Providers experienced in ID-based transactions across multiple industries help to ensure machines will have a model that has encountered multiple scenarios for failing or passing an ID.

Conclusion

Artificial Intelligence increases customer security and prevents fraud. Identity proofing providers are a trusted source to collect evidence of fraud, and through machine learning, that evidence can be analyzed and applied continuously to ensure higher accuracy.

Acuant is among the world leaders in applying machine learning to identity proofing solutions. Over the past 20 years, Acuant has accumulated the industry’s largest identity document library with government-issued ID documents and passports from over 190 countries. Acuant technology also has the ability to read characters in almost any language to ensure business are providing the most customer-friendly experience to instantly approve more good customers.

To join Acuant’s group of industry-leading partners, talk to an ID Solutions Specialist today.

 

Beyond Machine Learning