EQS-News: NET DIGITAL AG launches innovative AI product airis:ident for fully automated and legally compliant identity verification worldwide

NET DIGITAL AG launches innovative AI product airis:ident for fully automated and legally compliant identity verification worldwide

• airis:ident enables fully AI-supported identity verification (KYC) of end customers within a few seconds
• KYC coverage of over 13,000 identity documents with authentication for more than 200 countries
• Extensive savings potential and increased efficiency in identity verification
• Test operation successfully completed, go live has taken place
• Broad product rollout planned for Q4 2024

Düsseldorf, 13 June 2024 – net digital AG (ISIN: DE000A2BPK34, ticker symbol: VRL) has launched an innovative, fully automated identity check based on its AI platform for more than 200 countries worldwide. Within around 10 seconds, the new airis:ident product verifies the authenticity of the ID document and the identity and age of a person for the respective jurisdiction in a legally compliant manner. The data is based on over 13,000 identity documents, such as passports, ID cards, driving licences and residence permits, which the person to be identified submits online as a photo together with a selfie in just a few steps. The identity check also covers older documents. The applicable legal requirements are fully met during the check, which takes just seconds.

The AI solution, which was developed by the net digital group subsidiary irisnet, automatically compares the selfie of the person to be identified with the document data with integrated authentication. If the authenticity of the document and the identity of the person are confirmed by the AI, the document data is automatically read out and transmitted to the client.

AI-based identity verification eliminates the need for time-consuming and cost-intensive online verification using human video agents. As a result, the cost of an identity check with airis:ident is only a fraction of that of conventional methods. The sometimes necessary updating of the KYC process is also simplified and significantly improved. The relevant data and confirmation of identity are immediately available to the company placing the order. Waiting times for the customer during identification are eliminated, as is delayed authorisation. airis:ident addresses all areas in which age verification or identity checks are required.

The test phase has been successfully completed. The go live will follow in Q2. The first customer for airis:ident is a mobile phone provider. A broad market launch is planned for Q4 2024. An expansion to identification in the financial sector is planned, as is further technological development. In a next step, identification via video stream is planned, which represents further significant added value in terms of user-friendliness and acceleration of the overall process. All the users must do is hold their ID document together with their face in front of the mobile phone camera during a video recording. The AI then reads the relevant data from the document in real time, compares it with the person's video stream via facial recognition and checks the authenticity of the document.

Theodor Niehues, CEO of net digital AG: "Everyone will benefit from our AI-based identity verification, which can be used worldwide: Customers will be able to purchase goods and services more easily over the internet. Retailers and providers will not only make massive cost savings but will also be able to seamlessly document that they fulfil the relevant regulatory requirements. We will set a new standard in this area that is so important for e-commerce."

airis:ident is a digital product with a very high margin and significant annual growth rates. The new product complements net digital's existing product portfolio in acquiring new customers and also has considerable cross-selling potential with existing customers.

About net digital AG

net digital AG is a partner of many medium-sized and large companies from the telecommunications, media and entertainment industries. It develops global and individually adapted digital payment solutions with a focus on digital content distribution via its own technology platform. The solutions for the distribution of contents centre on the areas of entertainment, music and videos. The around 250 international customers of net digital AG include, for instance, large telecommunications and media groups as well as various public transportation companies. Through its technology platform, net digital AG reaches more than 100 million consumers. The shares of net digital AG are traded on the Frankfurt Stock Exchange under the symbol "VRL" (ISIN: DE000A2BPK34, WKN: A2BPK3).

Contact net digital AG

+49 (0) 211 97 53 55-0
ir@net-digital.com

Contact Finance and Business Press for net digital AG

edicto GmbH
Ralf Droz / Axel Mühlhaus
+49 (0) 69 90 55 05-54
netdigital@edicto.de