The identity verification experts at Sumsub have created a liveness solution that boosts conversion rates, builds bulletproof security, and enhances user experience. This new feature promises to onboard users 10% faster, even with a slow internet connection.
$1M Investment in Software Development
Sumsub, a startup that helps companies fight money laundering and online fraud, has invested over $1M in software development—aiming to deliver leading tech for over 1000 global clients. Its latest feature is “Prooface,” a refined liveness solution for ID verification and onboarding for fintech, transportation, insurance, trading, gaming, and other industries .
Rather than snapping a single photo, Prooface takes live selfies from different angles, which is a more secure and effective means of proving liveness. Performing face-scans at multiple angles, Prooface collects biometric data, encrypts it, and sends it to our backend for analysis. This is a secure and time-effective method that makes fraud attempts, such as replay attacks, impossible.
The Prooface experience is meant to be easy: users are simply asked to turn their head in a small circle, enabling swift biometric analysis of facial characteristics. So far, Prooface has increased conversion rates for clients by an average of 20%, with some clients experiencing pass rate increases of 44%.
The Rise of Liveness Detection
Security and data privacy is one of the most discussed topics these days. As such, technologies that combat online fraud are in the spotlight. Liveness detection is no exception, however this technology has come with certain drawbacks. Blindspots, overburdening tasks, slow performance, and unfriendly UX experiences are just some of the issues that have hampered liveness solutions in the past. Prooface is designed to eliminate these concerns while providing iBeta compliant protection against the most sophisticated fraud vectors—presentation attacks, replay attacks, API injection and deep fakes.
“Businesses are constantly facing new fraud threats, and this demands continuous improvement of existing technologies. We felt the urge to resolve common conversion setbacks by developing our liveness technology in-house. Although we can’t promise 100% conversion, we can guarantee that our clients will reach new conversion heights.”—Jacob Sever, Co-founder & CPO.
The global identification market is expected to be worth $15.8 billion by 2025. Additionally, the COVID-19 epidemic has accelerated digital trends like remote work and e-commerce. As such, there’s growing demand for faster and user-friendly ID checks across multiple industries. Therefore, the launch of Prooface comes at an appropriate time, as this global digital transformation is only expected to continue.
