|ILOCX is pleased to announce the listing of ELI Ident.|
ELI Ident is on a mission to revolutionize identification. Over 3.2 billion people have some form of Digital ID, however, current digital identification processes are cumbersome, impacted by human error, and often offer a poor user experience.
ELI Ident is an automated AI-based biometric system, offering blazingly fast, secure and cost-effective verification services to both businesses and individuals. Our customers are anyone looking to confirm their ID, securely sign documents, or verify that a person is who they say they are.
By combining strong authentication processes to deliver a vastly superior identification experience, ELI is positioned to penetrate the market which is expected to be worth 27 billion by 2024.
ELI Ident uses AI to recognise real people and real IDs, in real time. This verifies people faster and with more confidence than current verification methods. To use ELI Ident, users simply upload their ID document. ELI Ident automatically extracts data, runs a liveliness check to assess authenticity, then verifies the document through a combination of Deep Learning, Machine Learning, Computer Vision and use of Verification Experts.
ELI Ident is fully developed and functional, and is expecting to reach €1.653 billion in revenue by 2028. With over 100,000 research hours, 80,000 development hours & €4 million invested to-date, ELI Ident is set to be a top-performer on ILOCX.
Over the next 3 years, ELI Ident projects that each $10 ILO license will be worth over $300 – almost a 3,000% increase in value.
The current business landscape demands that businesses balance a seamless customer experience, whilst protecting against fraud and complying with increasingly complex regulation. Compliance, KYC and AML costs continue to rise, while regulators experience difficulties overseeing the increasingly complex international standards.
As a result, the industry is experiencing double digit growth rates due to favorable market trends such as increasing industry use, increasing fraud, rising compliance costs and growing need for regulation.
Our combined set of launch strategies include our partner network, digital and traditional marketing methods, a reward system for business customers, and a loyalty system for end users.
As ELI Ident is already fully developed and functional, we are now seeking investment and strategic partners to assist with marketing and running costs, as we aim to take a lion’s share of the market.
The ELI Ident vision is to bring a whole new level of innovation to the industry. What sets us apart is our independent in-house eco-system, as well as being faster, cheaper, and more secure than other solutions on the market.
To bring ELI Ident to life, we have comprised a multidisciplinary team of experts from various fields such as fintech, management, banking, technology, marketing, operations and academics.
In addition to our management team, we have a research and development team, and an advisory board – together with over a century of combined experience.