Detecting stolen and synthetic identities at the front end of new account origination can reduce fraud management costs. But, too often, ...
The Business Challenge
Detecting stolen and synthetic identities at the front end of new account origination can reduce fraud management costs. But, too often, tightening fraud controls delivers an alienating experience to legitimate customers.
1Kosmos self-service identity verification supports easily tailorable workflows to detect stolen and fraudulent identities prior to new account opening with minimal manual reviews. This delivers an elegant user experience to legitimate customers, automating and accelerating onboarding.
Identity verification usually takes less than a minute and gives customers a convenient digital wallet that replaces password-based access to defeat phishing, account account takeover and financial fraud. This tight integration between identity verification and passwordless authentication in a privacy-preserving platform gives organizations an architectural advantage Our platform empowers individuals to access and share credentials securely. Learn More to modernize and enhance their brand impressions with each digital interaction.
The BlockID Advantage
Modernize Identity Verification for Rapid Onboarding
Identity verification is only as sound as the credential used. 1Kosmos identity proofing technology captures the information in the credential and looks to ensure the document is valid. As one example, 1Kosmos checks for common characteristics of the document to identify if a photocopy was used.
1Kosmos technology fuses AI and machine learning to review over 2,000 unique computer vision data models to verify an ID’s authenticity.
Additionally, our OCR technology can extract information from an ID and populate customer forms instantly. It can also read and compare the data on an ID’s NFC chip. This system reduces time and mistakes made during user onboarding.
In cases where a visual check of the data is required, 1Kosmos works with third parties to validate the captured data and the ID document. Or, if organizations would prefer, 1Kosmos can activate an API to verify the data from the Country Signer Certificate Authority (CSCA) or from an issuing authority such as AAMVA for US drivers licenses, to validate the document and the data.
Automate KYC and AML Compliant Identity Verification
1Kosmos automates identity verification and supports passwordless multifactor authentication.
The 1Kosmos platform guides users through a web or mobile onboarding journey, supporting various identity assurance levels for KYC and NIST 800-63-3 standards for Identity Assurance Level 2 (IAL2) and Authentication Assurance Level 2 (AAL2).
Identity verification can utilize various government-issued credentials and support document verification for over 150 countries, with +99% identity proofing accuracy and built in defenses against presentation and injection deepfake attacks.
In addition, the 1Kosmos platform complies with GDPR, SOC II, and ISO 27001 for handling and retention of sensitive data. This delivers ironclad customer identity assurance for your business and user privacy with information shared only upon user consent.
Empower Users to Control Their Personal Information
Based on a distributed ledger, 1Kosmos eliminates administrative access to customer personal identifiable information (PII) and centralized “honeypots” of user data.
This places users in sole control of their own information through cryptographically paired public-private key architecture, which is a key architectural advantage A single platform anchored to a privacy by design certified framework. Learn More .
The data captured during the document verification process is managed through the citizen’s digital identity wallet.
All data is encrypted end-to-end and accessible only via a FIDO2 certified private-public key pair secured in the TPM / Secure Enclave of a device. User identity can also be secured across multiple devices.
Modernize the Customer Experience
1Kosmos users interact with their verified and triangulated identity through a portable identity wallet—a significant architectural advantage Our platform empowers individuals to access and share credentials securely. Learn More to manage their data, access digital services, and present verified claims (e.g., age).
This wallet organizes and stores information including attributes from multiple provable sources. It enables a wide variety of applications that verify identity without requiring physical meetings, such as worker and contractor onboarding, resident applications for government services, and know your customer identity verification for financial services.
1Kosmos wallet ensures users that all personal information is encrypted end-to-end and becomes readily available anywhere at any time upon user consent.
