BASIS ID accelerates growth and hits significant milestones in 2020
BASIS ID, the constantly evolving AML and KYC service provider across the globe, recently announced that it has dramatically increased its client portfolio compared to the same period last year. The company also announced higher growth of partnerships compared to the first half of the year, further validating its steady position in the id verification software market.
“The global pandemic has increased the need for digitalisation of services, and those who have already come to realise this point are actively automating processes and optimising user experience,” stated Akim Arhipov, CEO and founder of BASIS ID. “A highly customisable solution distinguishes the product from its competitors and attracts more and more new customers. The successful partnership with ZignSec has had a major impact on the company, significantly strengthening BASIS ID. Right now we are undergoing ISO standardisation and expect to be certified by the beginning of next year. Our service has always met the requirements, but we are now on our way to obtaining official confirmation. I look forward to working with our amazing partners and customers through our next phase of growth.”
As part of this tremendous growth, BASIS ID has achieved a number of major milestones, including:
Upgrades of AI involved in documents processing
The detection of document types has been improved. BASIS ID created a model which can recognise if there is a valid document on the photo, where it is exactly situated and whether it is flipped or rotated.
This model recognises the document in real-time and regardless of its position. Using machine learning algorithms, AI deploys the document into the correct position, determines and extracts the country, MRZ and security elements. While most competitors rotate the document aсcording to the photo image on it, BASIS ID’s machine learning system sets the right position by the content of the document itself. The software solution from BASIS ID analyses security features, colour scheme, font types and sizes to achieve the maximum recognition of fake documents. This is a powerful addition to spoofing and copy-move detection filters.
Improved file management system
Processing video is the most time-consuming operation in biometrics verification. Unpacking the container and obtaining frames takes a lot of time as video files captured from different devices have varying size and quality. To speed up the verification, BASIS ID has developed a new file management system that allows faster recognition of the video material in order to compare document data with video content more efficiently. This model is based on asymmetric PGP encryption system and is way better than symmetric AES-256 encryption used by competitors. It is distinctly fast and doesn’t have any compatibility problems. Another big advantage of asymmetric PGP encryption is that the algorithms it uses are almost unbreakable.
Although BASIS ID model shares some features with other known encryption systems, it certainly adds an extra level of security for data management and enhances the resilience of the whole system against cyberattacks which makes it impossible for hackers and malicious users to break into data files.
New OCR model
BASIS ID’s new OCR software supports coverage in more than 190 countries. It recognises Latin and Cyrillic alphabets in different variations plus all known hieroglyphs. BASIS ID’s OCR Autofill solution is capable of extracting any particular data and use it to auto-fill further forms. It is especially handy for digital onboarding and ID verification procedures.
In addition to that, the system can be trained to recognise any types of government and non-government issued documents including all sorts of business cards, membership passes and international driver licenses. The training process of the basic model takes less than one day and improves the speed with every new data received. Model markup now requires a minimum number of the documents. Due to the unique structural algorithm of AI and powerful BASIS ID servers, the average time of new dataset learning is 1-2 hours only.
Apart from recognition, BASIS ID’s OCR can process and correct different digital distortions, artefacts and abnormal patterns.
At the same time, it’s robust anti-spoofing and “copy-move” algorithms ensure the software cannot be defrauded by a counterfeit photo or video image.
Remarkable business performance
BASIS ID continues to define the market with dozens of innovations, adding new patented technologies to its growing intellectual property portfolio.
The company explains its success by five essential core-strength factors:
- advanced and fully in-house technological development
- independence from third party technologies due to the use of own intellectual property
- exceptional BASIS ID’s team competence and ambitions
- capacity of deep customisation and additional improvements
- virtuous striving for a combination of UX and optimal technical delivery
The company is proud that all of its clients are satisfied and all audits and control institutions, including BIG4 auditors, are always being passed with the highest score. This allows BASIS ID to guarantee the best level of service while having sufficient flexibility to provide an extra smooth experience to the end customers.
BASIS ID is a member of ZignSec group company. We provide KYC and AML verification, along with risk and fraud management services worldwide. A distinctive feature of BASIS ID is the flexibility in providing solutions and integrating within various services and industry-specific solutions. BASIS ID is an innovator in the field of data analysis and personal data verification.
Our software verifies over 3,000 government-issued documents from more than 190 countries. This means millions of verified identities per year across the globe. We are truly pleased to provide a safe online experience to that many people every day. BASIS ID is an undoubtedly customer-driven company, we focus on what matters to them: cost, speed, convenience, and coverage.
We are also a listed company group in NASDAQ First North Sweden (ZIGN:SE0012930105) and follow every local and international regulatory obligation. This includes strong reporting, corporate governance, licensing, and compliance with international laws such as GPDR, data localisation laws, and FATF.
Our main offices are located in Sweden and Estonia. We also have country managers in Singapore, the Czech Republic, the U.S., Canada, and the UK.
For more details and sales information please visit www.basisid.com