WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Website Related Website Revenue Monday, July 14, 2025 
Add Press Release News | News Feeds Feeds | Email This News Email


Veriff Launches Enhanced Proof of Address Offering
Friday, September 23, 2022

New extraction feature enables businesses to automate their Proof of Address processes for a more seamless user experience and reduces waiting time

NEW YORK, Sept. 15, 2022 /PRNewswire/ -- Veriff, a global identity verification provider, today announced a new, enhanced version of its Proof of Address offering, built to streamline customers' real-time identity verification (IDV) flows. The improved offering now includes new data extraction capabilities which enable businesses to further automate their user onboarding, comply with regulations, and reduce time and friction for users.

The fully automated process is completed in under 10 seconds, which manually could take hours or even days. Operation is simple - users upload or use the camera on their device to take a picture of a document - credit card statements, driver licenses, and utility or phone bills - that includes their physical address. Veriff then scans the document and automatically reads and extracts key details like names, residential addresses, dates, and transaction information. In addition to speed, the data-driven fraud detection is consistent, auditable, and reliably detects fraudulent forms of identification.

"Proof of address has been one of the greatest friction points in clients' onboarding flows, yet it's a crucial step to meet regulatory requirements," said Kaarel Kotkas, Veriff founder and CEO. "With Veriff's enhanced automated data extraction capabilities, the new solution makes the process multiple times faster and efficiently blocks fraudulent attempts."

Key benefits of Veriff's Proof of Address offering include:

    --  Reduced time and friction for customers and companies during the
        verification process due to automation, which enables businesses to
        approve users instantly.
    --  Reduced resources spent on manual processes for businesses. Automation
        removes the laborious manual processes of reviewing and approving
        submissions, saving businesses time and resources.
    --  Enhanced fraud detection for businesses. Veriff's Proof of Address
        solution has built-in, data-driven fraud detection that is consistent,
        auditable, and reliably detects fraudulent documents.
    --  Scalability. Automated fraud detection and data extraction enables
        Veriff's Proof of Address offering to quickly scale to support business
        growth and remove manual processes that are a potential bottleneck
        during periods of rapid growth or user demand.

To learn more about Veriff's new Proof of Address offering, please visit us here.

About Veriff
Veriff is an industry leader in online identity verification, helping businesses to build trust with their customers. Veriff's intelligent decision engine analyzes thousands of technological and behavioral variables in seconds, matching people to more than 10,200 government-issued IDs from over 190 countries. Founded in 2015, Veriff serves a global portfolio of organizations across financial services, crypto, gaming and mobility sectors. Veriff's clients include Blockchain, Bolt, Deel, Starship, Trustpilot, Uphold, Wise and others. Veriff's latest $100 million investment round brings its total funding to $200M and its valuation to $1.5B. The investors include Tiger Capital, Alkeon, IVP, Accel, Mosaic Ventures, Y Combinator, and others. With offices in the U.S., UK, Spain and Estonia, Veriff employs over 550 people from 60 different nationalities who are dedicated to helping businesses to build a more secure world. To learn more, visit www.veriff.com.

View original content:https://www.prnewswire.com/news-releases/veriff-launches-enhanced-proof-of-address-offering-301625251.html

SOURCE Veriff



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav Oro Inc. Announces the Launch of OroPay: A Unified Payment Solution for B2B Commerce | Jul 14, 2025
Nav Mike Tyson and ChaChing Rally Merchants to Break Big Tech's Grip and Give Power -- and Money -- Back to The People | Jul 14, 2025
Nav Author proposes "Schaefer's Law," which eliminates all federal funding to the CPS. | Jul 14, 2025
Nav June in Review: 13 Top Consumer Press Releases | Jul 14, 2025
Nav Rembrand and Mirriad Join Forces to Revolutionize Virtual Product Placement for CTV | Jul 14, 2025
Nav Kalorama Information's 2025 IVD Atlas Tracks Global Growth Hotspots, Led by China and Emerging Markets | Jul 14, 2025
Nav AdPlayer.Pro Introduces Advanced S2S Integration Capabilities in Its Video Ad Server | Jul 14, 2025
Nav Takedeals Introduces Coupon Feeds Solution with AI-Powered Data Standardization | Jul 14, 2025
Nav AIM B2B Launches in Tokyo to Transform B2B Marketing in Asia | Jul 14, 2025
Nav Publisher Two Virgins Begins Selling Books on Amazon.com in United States | Jul 14, 2025
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News