Project description
Creating trusted digital identities
Digitalising the identity verification process of individuals and companies is a top priority for the EU. Making national eID schemes interoperable across Europe facilitates access to online services. Digital identities make it possible for consumers to identify themselves immediately to businesses. The big issue is how to ensure the ID is trusted and secure. Fraud poses a significant financial and security problem for organisations. Addressing this issue, the EU-funded Daego project is working on a modular, user-centric, fully automated, scalable and secure software platform for secure identity verification and efficient customer onboarding, allowing for the creation and management of trust. Specifically, it uses a machine-based approach, deploying computer vision and machine learning, to efficiently and securely validate document authenticity in real time.
Objective
Fraud due to Digital ID (Identity) thefts is a huge economical and security problem for organizations. As a token, in 2018 American companies lost $3.4 billion in new accounts fraud. Furthermore, Digital ID fraud undermines digital engagement as users do not trust their Digital ID security. A secured system of Digital ID Verification is mandatory to drive digital growth. However, while Digital users demand better security, they are frustrated by the current Digital ID verification methods. 43% of digital users think that Digital ID verification solutions are cumbersome and are saying NO to current procedures to verify their Digital ID. The challenge is to build a secure, fully automated and user-friendly Digital ID verification for customer on-boarding. PXL Vision AG has developed a proven solution is Daego, a modular, user-centric, fully automated, scalable and secure software platform that best optimizes company resources and UX for customer on-boarding. Based on unique technical features that go beyond state-of-the-art, the deployment of DAEGO has huge benefits for users: 100% reduction of fraud; >75% reduction in customers on-boarding cost; BIG increase in customer digital engagement; as little as one week for deployment; low implementation risks proven in leading industrial verticals. The business opportunity is huge: the Digital ID Verification market size is expected to grow from $6.0 billion in 2019 to $ 12.8 billion by 2024, at a CAGR of 16.0%. Market drivers are the rising number of identity frauds, stronger regulations on general data protection, enterprise mobility and BYOD (bring-your-on- device) trend.
Created for entrepreneurs with strong technical and business experience, PXL Vision has become in two years in the market, a reference for Digital ID verification in Switzerland, with a filed patent with more than 40 claims, backed-up by key investors and winner of the most prestigious Swiss entrepreneurial awards in 2019.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques.
- natural sciencescomputer and information sciencessoftware
- natural sciencescomputer and information sciencescomputer securitydata protection
- social scienceseconomics and businessbusiness and managemententrepreneurship
- natural sciencescomputer and information sciencesartificial intelligencemachine learning
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Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
8002 ZURICH
Switzerland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.