Press Releases - Automated Identity Verification - PXL Vision

PXL Ident: Automated ID Verification to Electronic Signature

Written by PXL Vision | Apr 11, 2022 10:00:00 PM
Berlin, 12.04.2022 - The majority of internet users are afraid of identity theft when conducting business on the internet. This is shown by a current survey by the market research company Bilendi & Respondi, which was conducted in February 2022 on behalf of the e-mail provider Web.de. According to the representative study, most respondents fear purchases (73 percent) as well as the conclusion of contracts (63 percent) by third parties in their name. However, the damage of an identity theft is not only borne by the damaged persons, but also by the deceived companies as contractual partners. The increasing demand for more remote processes due to the COVID 19 pandemic also makes it even more important for companies to be able to fall back on reliable digital onboarding procedures.

Simple, customisable and digital solutions are in demand

Swiss identity verification provider PXL Vision AG is responding to the growing demands on businesses. With the market launch of the software-as-a-service solution PXL Ident in April this year, the provider is expanding its AI-supported biometric identification process, which offers companies a secure way of verifying identity in online interactions. PXL Ident consists of four modules for a fully digitalised onboarding and conversion process - from customer registration to identity verification and additional checks to electronic signature.

Image: PXL Ident offers different modules of the overall process from digital identity verification and digital contract signing, which can be seamlessly inserted at every touchpoint in the customer journey.

"Many companies invest heavily in their sales teams and processes only to find that their efforts are undone in the onboarding process. Inefficient digital onboarding for customers and a lack of understanding of customer needs are just two reasons for poor conversion rates," explains Michael Born, founder and CEO of PXL Vision AG. For example, almost every second German citizen (46%) wants to handle the majority of their insurance matters online in the future, writes IT-Finanzmagazin, citing a study by Techmonitor Assekuranz from 2021. "This survey result shows that customers expect digital solutions that are flexible, secure and, above all, convenient to use," continues Born.

Create fully digitalised customer experiences to increase conversion

With the automated PXL Ident process, media breaks are avoided, converting more prospects to customers. Within seconds, companies can verify sensitive customer data and then seamlessly guide their users through to the electronic conclusion of a contract. Manual identity checks can be eliminated, which saves time and effort for the customer, as well as human and financial resources for the company. For data processing in the data centres in Germany and Switzerland, PXL Vision relies on an ISO 27001-certified Information Security Management System (ISMS) and on current standards for data protection, security and confidentiality.

"There is a good reason for the great hype around digital transformation. Simple but decisive interventions can lead to massive improvements in safety, operational efficiency as well as exceptional customer experiences," sums up Born.

About PXL Ident

PXL Ident is a product of PXL Vision AG and offers a proprietary fully automated digital end-to-end workflow, from identity verification to qualified electronic contract conclusion. Detailed information on PXL Ident here.

1. Low abandonment rate due to fully automated identity check within under 30 seconds.

PXL Ident is an AI-supported biometric identification process that covers the entire customer journey from user registration to electronic signature. The core of the workflow is the identity verification process, which uses a smartphone camera to check the authenticity of an official ID document. A short video selfie is then taken to ensure that a real, live person is in front of the camera and that the document also belongs to this person. The procedure used for the so-called passive liveness check is more user-friendly than the active liveness check. With the latter method, the user has to follow specific additional instructions to prove his or her own "authenticity". This interaction is not necessary with the passive method, because the check runs fully automatically in the background. The identity check takes only 30 seconds and the entire process takes place exclusively via a medium, without any cumbersome external intermediate steps that could tempt the prospective customer to abort before concluding the contract.

2. Flexibility and customisation through modular orchestration of the end-to-end workflow.

Depending on the use case, security regulations and business rules, the entire onboarding path of PXL Ident can be individually adapted and parameterised. If required, further test steps can be added. This means that PXL Ident can be used for a wide range of use cases - from simple age verification for the purpose of youth media protection to complete customer data capture with contract signing. Thus, target customers can be found in the most diverse industries, be it financial service providers, insurers, telecommunication providers, retailers, public companies, media, online marketplaces or others.

3. Low barriers to entry and high conversion due to platform-independent solution.

PXL Ident is a platform-independent white-label solution that is fully branded to the client. As such, the PXL Ident workflow can be seamlessly integrated into the customer journey for onboarding, checkout or other use cases without the user having to download a separate mobile app or feel like they are leaving the customer's world. PXL Vision offers the core technology either as a service (web and mobile), as software-as-a-service (cloud) or as an on-premise solution. With each option, the specific regulatory requirements of DSGVO and DSG, FINMA, KJM, eIDAS, TKG and BaFin are taken into account. Infrastructure and operation of the PXL Ident procedure are certified according to ISO 27001. All data collected in the PXL Ident workflow is stored exclusively on servers in Germany or Switzerland.

More information about PXL Vision at: https://www.pxl-vision.com