Apr 24, 2018
Video identification in real time at Finovate Europe
Our VideoID was chosen to present at Finovate Europe on March 6 in London.
Video identification in real-time is increasingly becoming a priority need for consumers. Opening a bank account in seconds from anywhere on any device not only triples user satisfaction, but it also bumps conversion rates from 10% to 70% and speeds time to market up from three weeks to three seconds.
Our technology, unique in Europe, is the only one that allows companies to onboard customers in seconds, improving user experience, accuracy, and upgrading the security of technology based on selfies. It and assisted video conferencing are the only technologies compliant with the new European AML6 regulation and KYC processes.
This is one of the reasons Gartner named us Cool Vendor last year when we’d been on the market for barely a year, why we were chosen by RegTech 100 as 1 of the top 100 innovative companies in the world, and why our CEO, Iván Nabalón, was just named one of the top influencers in the world in identity.
What is Finovate Europe?
Finovate is one of the world’s biggest fintech events, vital in the ecosystem and which has been steadily consolidating since its creation over ten years ago.
This 2018, it will take place from March 6 to 9 in ExCeL London.
Why should you attend to Finovate?
It is one of the biggest showcases in Europe where you can network with major investors and customers.
This year there will be more than 1,400 people in attendance and more than 70 companies on the stage presenting their innovations.
Experts on regulation and innovation will be among the speakers who will offer us valuable lessons. Same as seen at eIT.
Why are RegTech companies so important?
With the deluge of regulatory and compliance requirements the banking industry has had to meet the last few years, RegTech businesses are becoming vital pieces of the playing board.
Our use case on acquiring customers through the online channel in a matter of seconds results in the growth of financial institutions, FinTech companies, and especially insurance companies.
What does today’s map of RegTech look like?
More than 400 companies are already investing in RegTech and although they are overwhelmingly located in the US and Europe they are slowly but surely growing in Asia.
The world RegTech market is expected to exceed 70 billion by 2020 and the investment in these companies has tripled over the last five years.
Half offer solutions focused on managing compliance, onboarding processes, and monitoring transnational functions, with a total of 2,000 million dollars invested since 2012.
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