ZORRZ and IDnow augment credit accessibility with BlueAccess Card

On a mission to democratise access to credit, ZORRZ is set to launch the BlueAccess Card, a hybrid credit card specifically designed for immigrants, individuals with past credit challenges, students, those with learning or physical disabilities, and other groups excluded from mainstream credit.

The card offers Buy Now, Pay Later functionality, providing consumers increased financial flexibility to split payments for purchases. ZORRZ also offers an AI-supported API generating a comprehensive Financial Health Score, an alternative to conventional credit scores.

Officials from ZORRZ said that their mission is to provide responsible and seamless access to credit, fostering financial inclusivity through secure and innovative solutions. Their collaboration with IDnow signifies their commitment to combating fraud while ensuring a frictionless experience for their customers. IDnow's AI-driven identity verification aligns with their ethos of delivering both security and a smooth onboarding journey.

Increased security and real-time responses

Utilising IDnow’s advanced AI-based KYC solution, ZORRZ aims to comply with FCA regulations, ensuring real-time responses, robust fraud protection, and seamless customer verification. IDnow’s automated document verification, including a face biometric comparison with liveness detection, will enable ZORRZ to streamline customer onboarding securely and efficiently.

Officials from IDnow said they are happy to collaborate with ZORRZ in redefining customer onboarding experiences in the UK. Their AI-supported, automated identity verification solutions are designed to make KYC and Anti-Money-Laundering processes an enabler rather than a barrier for innovative ventures like ZORRZ. This partnership is an excellent foundation for future expansions, leveraging their expertise in multi-jurisdiction compliance and their extensive European presence.

IDnow joins MAMMOth project to combat bias in AI-powered facial checks

In a bid to break down the barriers of bias in AI-powered facial verification, IDnow is participating in the MAMMOth project, collaborating with 12 European partners, including academic institutions, associations, and private companies. Funded by the European Research Executive Agency, the three-year project aims to study and mitigate biases in AI algorithms, particularly in areas such as assessment of loan applications, academic evaluation, and face verification applied to identity verification. This initiative underscores IDnow's commitment to ensuring fair and reliable algorithms, promoting inclusivity, and addressing concerns of underrepresented groups affected by biases in identity verification processes.

The partnership between ZORRZ and IDnow signifies a leap forward in revolutionising credit accessibility, combining ZORRZ’s commitment to inclusive financial products with IDnow’s expertise in secure and seamless identity verification. This collaboration promises to pave the way for a more inclusive, secure, and accessible financial landscape for all consumers.

What does IDnow do?

IDnow is an identity verification platform provider in Europe with a vision to make the connected world a safer place. The IDnow platform provides a broad portfolio of identity verification solutions, ranging from automated to human-assisted from purely online to point-of-sale, each of them optimised for user conversion rates and security.