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  • Online Identity Verification TCO Calculator Calculate the TCO fo your online identity verification solution with this interactive calculator from Jumio. https://linkeddata.uriburner.com/about/id/entity/https/www.jumio.com/calculate-tco/#content url https://www.jumio.com/calculate-tco/ Sharing Economy Online Identity Online identity Calculator calculator TCO Total cost of ownership All rights reserved Use Cases Fraud Detection US Patent Financial Services Total cost English English Internet ident
  • Online Identity Verification TCO Calculator 2020 Market Guide for Identity Proofing and Affirmation Get the Guide X Skip to content X Home Solutions Platform Products Use Cases Industries Features Compliance Technology Informed AI OCR Certified Liveness Detection Face-Based Biometrics About Company News Partners Careers COVID Relief Resources Library Trusted Identity Blog Technical Blog Webinars TCO Calculator Contact Support Sales More English English Spanish (Espa ol) Portuguese (Portugu s) French (Fran ais) s Request Sales Info Request a Demo Total Cost of Ownership Calculator Use this calculator to find out how much your online identity verification solution is REALLY costing you. TCO Calculator Planning Assumptions Current number of online identity verifications performed each day Percent of manual reviews as a result of verification maybes Incremental number of daily manual reviews caused by maybes 30 Average time spent on each manual review (in minutes) Total time required for incremental reviews (in hours per day) 5 Verification Costs: Cost per identity verification Annual identity verification costs $45,625 Manual Review Costs: Average salary of manual reviewer Incremental staffing cost for incremental manual review (per year) $28,125 Estimated Opportunity Costs (from customer abandonment): Estimated abandonment rate Estimated customer's lifetime value Number of customers who abandon each year 780 Estimated annual lost revenue from abandonment $780,000 Total cost of ownership for online identity verification per year $853,750 What's Behind the Numbers? The growth of the online identity verification market has introduced a number of automated solutions that rely on optical character recognition (OCR) and basic machine learning to determine if an ID is authentic or the consumer s digital identity is legitimate. WIthout the right technology behind them, automated solutions can present a number of shortcomings: Poor verification accuracy (i.e., too many false positives) Return too many suspect decisions (aka maybes ) More maybes lead t
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