Lawtech 365, a premier provider of legal technology, has announced the release of “DynamicID”, a cutting-edge biometrics identity verification software based on NFC technology.
Developed in the UK, DynamicID is the most advanced solution of its kind, providing a secure and convenient method for verifying identities online. The technology is currently incorporated as the primary biometric risk engine within Lawtech 365’s comprehensive digital onboarding solution, “Verify 365”.
The CEO of Lawtech 365, Rudi Kesic, expressed excitement about the integration of “DynamicID” into “Verify 365”, stating,
“We are thrilled to unveil “DynamicID” as a core component of our digital onboarding solution – Verify 365. With its state-of-the-art features and unparalleled biometrics security, we are confident it will become the industry standard for identity verification, especially for the heavily regulated sectors, such as law, accountancy, finance and real estate. The biometrics risk engine in “DynamicID” is more advanced than any other solution currently available on the market.”
“DynamicID” uses cutting-edge machine learning and artificial intelligence to perform accurate and swift identity verification. It also features biometric and liveness detection technologies, including advanced and unbiased facial recognition, to guarantee the highest level of security. The software simplifies the identity verification process for law firms, estate agents, and financial institutions, making it effortless and convenient for clients to verify their identities remotely.
“DynamicID” will debut in the market through “Verify 365” – a comprehensive digital onboarding technology solution developed by Lawtech 365. The solution includes a complete client onboarding and verification process for regulated industries such as law firms, estate agents, accountants, and financial institutions, including ePayments, eSignatures, KYC, AML checks, and KYB workflows.
Mev Dzihic, CTO of “Verify 365,” highlighted the significant advantages of the new DynamicID biometrics technology, stating,
“One of the most significant benefits of DynamicID is its ability to enhance security and minimise the risk of identity theft. With the growing use of online transactions, the need for secure and dependable ID verification in digital client onboarding is more crucial than ever. We are delighted to integrate DynamicID into Verify 365, which will help safeguard individuals and organisations from the potentially devastating consequences of identity fraud.”
DynamicID provides a smooth, secure, and inclusive client ID verification experience. With a simple “liveness” capture, businesses can automate client onboarding more quickly and efficiently while significantly reducing their fraud exposure.
Identity fraud has seen a significant increase in recent years. Criminals are using smarter tactics, such as realistic 2D/3D masks and display attacks, to try to spoof verification systems. With 9 out of 10 clients now comfortable accessing digital services, the opportunities for fraudsters are increasing. This has made it imperative for companies to provide accurate fraud measures for new and existing clients, and to establish trust in under two minutes or risk losing them. Consumers are increasingly embracing biometrics, with 77% reporting that biometrics are more convenient than legacy verification methods.
Azeem Rashid, CMO of “Verify 365,” added,
“DynamicID provides a solution to these challenges by improving efficiency. Traditional identity verification methods can be slow and cumbersome, resulting in delays and lost productivity. DynamicID eliminates these issues, allowing users to quickly and easily verify their identities, saving time and increasing efficiency.”
The launch of DynamicID comes at a time when the need for secure and reliable identity verification is more important than ever. With the increasing prevalence of online transactions and the growing threat of identity theft, the ability to accurately and efficiently verify identities is critical. This innovative solution offers a way to combat identity fraud and improve efficiency in the digital age.
“We are confident that DynamicID will become the go-to solution for identity verification in the regulated industries and beyond,”
said Hockham Suthi, Chairman of the Advisory Board at Lawtech 365 Group.
“Lawtech 365 are a trusted provider of legal technology solutions, with a reputation for innovation and excellence. The company is dedicated to helping our clients stay ahead of the curve and remain competitive in an increasingly digital world. The launch of DynamicID is a testament to our commitment to bringing the best software solutions to the market.”
DynamicID has the potential to become a game-changing technology platform that can offer a wide range of benefits for regulated industries. Its advanced features, unparalleled security, and cost-effectiveness make it the perfect solution for anyone looking for a digital identity verification technology. Its ability to improve efficiency and combat identity fraud make it a valuable asset for any company looking to stay ahead in the digital age.
For more information about Verify 365, or to get a free trial, please visit: www.verify365.app
This article was submitted to be published by Verify 365 as part of their advertising agreement with Today’s Family Lawyer. The views expressed in this article are those of the submitter and not those of Today’s Family Lawyer.