The 1Kosmos Verify Advantage
Frictionless Identity Verification
A tailored onboarding journey to verify digital identity based on business and risk profiles blocks fraudulent identities upfront, like synthetic IDs. A real-time verification and identity triangulation process delivers legitimate identities (e.g., IAL2 / AAL2 for financial services and government agencies). AI and machine learning, coupled with issuing authority checks by AAMVA, ICAO and others can help deliver high decisioning accuracy with minimal manual reviews.
Deploying AI and machine learning technologies can detect even the most sophisticated fraudulent documents, driver’s licenses or passports, with an accuracy of +99%, which is better than human verification that can be fooled 30% of the time. Additionally, the captured data can be cross-referenced with the data on an ID’s NFC chip and issuing authorities like the Social Security Administration (SSA) or American Association of Motor Vehicle Administrators (AAMVA) to ensure the entered user data is accurate.
Verification for All
Verification based on a pool of data injects a level of biased decisioning into the process and can unintentionally alienate individuals. Anti-biased decisioning will require a liveness test for each user to ensure a live person is present and cross reference the user with their presented government-issued documents. This will deliver less friction as decisions are fair and equitable for all individuals, regardless of their race, gender, age, or other protected characteristics.
Digital Data Wallet
Capturing data and placing a customer’s verified identity in a portable and verified digital identity wallet, gives users a powerful way to manage privacy, share PII data and access applications and services. This empowers organizations to eliminate their privacy responsibilities and bind a user’s account to their identity. In addition, the wallet will act as a traditional wallet and enable them to prove identity when requested even at the time of authentication.
Privacy and Compliance
Distributed ledger technology goes beyond the public-private key security that comes with a FIDO2 and NIST-certified solution to provide additional security by eliminating administrative access to centralized “honeypots” of user personal information.
In this unique approach, information is sharded, encrypted, and stored in a private blockchain. The locations of those blocks of information are then encrypted and stored to provide an additional security layer protecting the integrity of any digital assets, in this case, a decentralized digital identity. This architectural advantage means hackers, nor 1Kosmos, can access customer data unless permitted by the data owner.