Regulated businesses go digital – 87% of online customers strive for digitization of their insurance companies. The generation smartphone comes of age. A secure way to proof the real-world identity of users remotely is an essential service for regulated companies like banks and insurances as well as the multi-billion mass market of the sharing economy. Yet, there is no smartphone integrated service offering ID verification according to the highest security standards and regulatory requirements while being user-friendly and available 24/7.
SELFIE-IDENT, based on patent pending technology, allowing the first no-wait process ever. Through automated document recognition, taking into account the highest EU security standard eIDAS as well as AMLD5, NECT is a pioneer in online ID verification as a service which finally works. SELFIE-IDENT is the first product on the market enabling an instant ID verification for each EU identity document 24/7. Conversion rates of current solutions are 40-70% – poison for the insurers or banks – while NECT reaches 92% striving for 95%. Customers of our software are insurances, banks, and telecommunication companies. A future target market is the rapidly expanding market of the sharing economy, e.g. car-, bike-, and scooter sharing, requesting quick, simple, and secure ID verification.