Cryptocurrency exchange startup Coinbase has announced that it is now using machine learning for faster and more reliable identity verification.
With the significant growth in the past few months, Coinbase said that many customers had a poor experience with identity verification, payments and customer support. To address these issues, the startup is now using machine learning.
“We are now using machine learning for ID verifications. In most cases, verification will now take seconds — not hours. We have also integrated an additional ID verification vendor to help with increased loads during periods of peak demand. We’re excited to share that we are now successfully verifying nearly 90% of all customers who submit an ID,” AJ Asver, Product Manager at Coinbase, wrote in an online post.
Furthermore, Coinbase has also announced measures to improve customer experience. If a customer’s ID verification fails, it will now send an email explaining why the ID could not be verified along with specific suggestions on how to resolve the issue.
“These features are currently available on our website and similar improvements for our mobile apps will be rolling out in the next few weeks,” Asver said.
