News

Due to the widespread transition of financial institutions to online, identity verification has turned from a one-time procedure for VIP clients into a routine task. In response to this trend, World has released a set of technologies designed specifically for banks, investment funds, and other financial services. Alex Blania, one of the founders of World, emphasized that this is the company's first industry product. The financial sector was chosen because of the high degree of risk inherent in digital transactions: the slightest mistake in identification can lead to direct financial losses.

The main reason for the development was the growing threat posed by deepfakes and artificially generated personalities. According to a report by Deloitte, the damage caused by AI fraud in the United States could increase from $12.3 billion in 2023 to $40 billion by 2027. This means that financial companies need to verify not only the authenticity of documents, but also make sure that the person they are talking to in a video call is a real person and not a digital copy.

The new package from World includes three main components. World ID is a digital identity wallet that allows users to securely store, manage, and present verified credentials. World ID for Agents makes it possible to delegate a verified identity to AI agents for verification on third-party platforms. World ID for Zoom, in turn, provides real-time verification of video conference participants using Zoom Realtime Media Streams technology.

Verification in World ID for Zoom is performed by comparing three elements: a reference image that has been verified through Orb, a user's selfie, and a real-time video stream. If all the data matches, the Human Badge icon appears on the participant's video, confirming the verification. World has also announced the full availability of World ID for Zoom. Tools for Humanity, one of the key sponsors of the World, has joined the Zoom ISV Exchange program, which allows corporate clients to purchase World ID for Zoom integration directly through the Zoom App Marketplace. Additionally, organizations can order special Orbs hardware devices for verification in their offices.

Sandro Herbig, president of Tools for Humanity, sees this launch as a response to the rapid development of AI: businesses need reliable identity verification to minimize fraud and build trusting relationships. In his opinion, World ID provides tools for the financial industry to create AI-a sustainable level of trust. Ajay Patel, head of World ID, notes that human verification is no longer a secondary function, becoming an integral part of the trust infrastructure in the digital communications era.

World is already testing the technology with a number of partners, including Bain Capital, Vaneck Funds, Openexchange and Outtake. The World ID for Zoom integration is powered by Amazon Web Services (AWS) and was previously available in closed beta testing with Vaneck Funds. According to the company, more than 18 million people already have a World Proof of Human certificate. The World plans to present its development at Zoomtopia and Cloudflare Connect industry events.