Artificial Intelligence or AI is being used in multiple areas of our lives now and it is expected to find a more prolific use in the future. The technology is also being employed to detect online fraud. London-based startup Sumsub is using its expertise in the field to boost AI-based software implementation for liveness detection. The company has now announced a new liveness solution called Prooface, which is expected to boost ID verification and onboarding.
The global identification market is expected to be worth about £11.46 billion by 2025. With COVID-19 accelerating digital trends such as remote work and e-commerce, faster and user-friendly ID checks are needed. Multiple industries, including digital banking, gaming, gambling, insurance, and finance utilise online verification. Considering this, the launch of Prooface comes at an appropriate time.
In a conversation with the company’s Chief Product Officer and one of the co-founders, Jacob Sever, we learn more about the startup, what it aims to accomplish, and more about its latest announcements. ...