Veridu is a company that provides global identity services based on digital footprints. Its main focus is making strong authentication friendly and useful for such businesses as couchsurfing, online dating, youth communities, social games etc.
It is often the case that in order to complete online transactions, customers are required to upload an image of their passport, provide social security number or maybe share their bank account information. Because the process is so cumbersome and requires extra effort, 8-12% of transactions are being lost. This adds up to large amounts of money on the global scale. The goal of Veridu is to simplify the process. The way it works is by examining whether someone’s Facebook profile seems credible. For instance, if it has friends, posts and comments.
“It’s pretty easy to fake a passport or a personal interview, but it’s hard to fake a network. So you could say that we do not believe in yourself, but we believe in your network, “explains company’s CEO Rasmus Groth in Trendsonline.
Veridu was an endeavor that has evolved from a different project called Nuffly for storing cloud content and social media. After realizing that it is very difficult to get users to use the back-up service, Rasmus Groth and his team have shifted their focus to the issue of online identity service. And that’s how Veridu came around in 2012.
The company is still developing. The product strategy is twofold: to have direct enterprise sales and self-service offerings for small businesses. Once Veridu makes appearance outside of the home market, primarily the US, it will start offering identity checks that will have the same procedure in Denmark, England and the US.