OCR Labs

OCR Labs is an identity verification and fraud prevention solution designed for businesses of all sizes, from startups to large enterprises. According to the vendor, this platform caters to various professions and industries, including financial services, brokers, gambling/iGaming, insurance, and marketplaces & communities. With its advanced features and user-friendly interface, OCR Labs aims to revolutionize the way companies verify identities and combat fraud.

Key Features

Biometric Verification: According to the vendor, users can be onboarded by linking their face to their identity document using technology that learns in real-time. OCR Labs claims that their biometric verification is culturally agnostic, ensuring accuracy regardless of race, age, gender, or smartphone.

ID Verification: The vendor states that users' identities can be verified within seconds by leveraging their ID and smartphone. OCR Labs claims that their ID verification eliminates the need for in-person verification, allowing businesses to scale with user demand. They also emphasize the human-centric design and user experience of their solution.

Video KYC: According to the vendor, live video verification can determine the context of the face shown and review objects and surroundings in the room. OCR Labs claims that their fully-automated video KYC process delivers identity verification results in seconds. They also mention that businesses can gain global access instantly with their extensive document library and language support.

Data Verification: The vendor claims that OCR Labs can validate information from an identity document against multiple databases, ensuring compliance with local regulations. They state that this feature helps reduce the risk of ghost brokers and policy adjustments, while improving the user experience through seamless onboarding.

Reauthentication: According to the vendor, OCR Labs enables continuous reauthentication of users with just their face to prevent account takeover. They emphasize that this feature can verify high-risk actions such as policy adjustments and cash out, protecting both customers and businesses' interests. OCR Labs also mentions the ability to batch upload or send single transactions from call centers, effectively converting high-risk traffic into revenue.