Crunchbase Highlights Jumio, an Innovative Identity Verification Company

Doing business online can certainly be profitable and worthwhile, but it can also expose a company to dangers and problems that it might not otherwise be forced to confront. In particular, many businesses find the online environment to be especially hostile with regard to fraud. With many customers paying with credit cards that are not physically present, verifying that each has the right to do so can be extremely difficult.

A New, Better Approach to Combating Fraud Online

As the profile at www.crunchbase.com/organization/jumio makes clear, there are also businesses that are dedicated to making life easier for others in this respect. Since being bought by a prominent private equity group, Jumio has made a name for itself as the preeminent provider in its space.

The company’s Netverify identity verification system addresses this now well known problem in an especially contemporary and timely way. With sophisticated software allowing its servers to quickly and accurately assess the presence and authenticity of identification documents and other important assets, businesses that accept payments or allow clients to open accounts online have a powerful new tool to wield.

Making Life Much More Difficult for Fraudsters and Other Criminals

Up until this point, criminals have been able to hide behind a particularly important advantage. With virtually everyone who pays for a product or service online using a credit card to do so, even someone who had stolen details from a rightful owner would often not stand out.

In some cases, businesses have already tried to impose fraud prevention measures that require customers to submit to manually conducted questioning or the like. Unfortunately, forcing a shopper to place a phone call or send in a scan of a document is one likely way of losing their business for good.

By being a lot less intrusive and much easier to deal with, the Netverify system stands as a far better balanced and more appropriate solution. With only a quick snapshot from a smartphone being needed in order to establish a reliable form of trust, businesses can be much more confident in their dealings. Their customers will benefit, as well, by being much more likely to be treated as the trustworthy, beneficial partners they actually are.