Bay Area intelligent automation technology provider ABBYY is leveraging its process intelligence and intelligent document processing capabilities to enable businesses and consumers to make online transactions safer.
Since the inception of online commerce, bad actors have taken advantage of the anonymity of the internet to defraud businesses and victimize consumers by using stolen or fake information to impersonate legitimate customers. ABBYY has launched its Proof of Identity platform to protect these businesses and customers, especially during the onboarding process where they are most vulnerable.
The platform automates the mobile capture and classification of identification documents, ID verification, facial matching and more, pairing them with process mining intelligence to optimize the processes that result in authenticating legitimate customers.
“More high-risk interactions are transacted online especially in banking, healthcare, and government that require balancing trust in a person’s real-world identity with the customer’s expectation for a smooth user experience—and there needs to be a better way of doing it,” said Bruce Orcutt, senior vice president of Product Marketing at ABBYY. “By leveraging our intelligent process automation technology into identify proofing and identity affirmation capabilities that are easy for customers and secure for businesses as part of their onboarding platforms, organizations will have significantly lower abandonment rates, and customers will benefit from a positive experience.”