Regtech: TrustID Selects IDVerse to Streamline Identity Verification Capabilities via GenAI Algorithms

IDVerse, a key player focused on generative AI identity solutions, celebrates a significant milestone as TrustID, a firm specializing in identity verification and fraud prevention, joins its growing roster of clients.

TrustID, the certified identity service provider (IDSP) and industry participant, has “chosen IDVerse to further progress the capabilities of its human-in-the-loop identity services, setting a new standard in identity validation and security.”

The addition of IDVerse’s automated reinforcement learning “into TrustID’s services, supported by TrustID’s unique expert human analysts, enhances the accuracy and reliability of the identity verification processes.”

This collaboration equips TrustID to continue “to offer future-proof verification technologies and fraud prevention services. Customers will benefit from enhanced security features, smoother user onboarding, and robust compliance with regulatory standards.”

As deepfake attacks rise, with fraudulent entities using manipulated audio or video to impersonate individuals, TrustID and IDVerse are “proactively adapting their systems to counter this threat.”

Recent data from IDVerse reveals that “approximately 1 in 4 fraud attempts involve deepfake media, emphasizing the urgency of addressing this issue.”

Tony Machin, CEO of TrustID, said:

“We are excited to continue our advancement in identity verification automation with IDVerse and leverage their innovative approach to identity technology. We rigorously tested IDVerse with our own known fraudulent document database and through live data tests to ensure our clients receive only the industry’s best. IDVerse performed significantly better in document capture and fraud analysis than other candidates.”

Machin continued:

“Together, we will redefine the standards of digital identity verification and fraud prevention, integrating best-of-breed solutions to drive the most robust and straightforward verification, supported by human experts. Incorporating IDVerse reinforces our position at the forefront of the identity verification market and helps us to stay ahead of evolving threats, such as deepfake fraud.”

Matt Adams, CTO and Co-founder of IDVerse said:

“At IDVerse, we’re committed to providing the essential building blocks for identity businesses, prioritizing both innovation and ethical AI By leveraging the best of computer vision and humans, we address algorithmic bias and ensure compliance with regulations like the EU AI Act and the US White House Executive Order on AI. This approach empowers companies like TrustID to navigate the digital landscape responsibly and with confidence, particularly in combating emerging threats such as deepfake media.”

The partnership between IDVerse and TrustID marks “a significant advancement in digital identity verification, combining generative AI with human expertise to provide security and user experience.”

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