BureauID Review: Pros, Cons, Pricing, And More (2024) 

If you were to sit down with business leaders today and ask them about their biggest challenges, security would probably be one of their top three answers. Sophisticated identity fraud like deep fake AI videos and the alarming rise of money mules (individuals or entities used to move illicit funds) are a ticking time bomb for businesses. In fact, the cost of global fraud losses currently circles around $5 trillion and it’s only climbing.

Many players in the identity verification industry are stepping up to combat the escalating threat of fraud, and names like HyperVerge and BureauID are leading the charge. While HyperVerge specializes in AI-driven identity verification and passive liveness detection, ensuring that users are who they say they are, BureauID excels at detecting complex fraud schemes like money mule activities and more.

So, which should you choose for your business? Well, through this blog, we’ll break down the key differences between BureauID and HyperVerge—comparing features, pricing, and more. By the end, you’ll have clarity on which solution to choose from to secure your business from modern cyber threats.

What is BureauID? 

BureauID is a fraud prevention and identity verification platform established in 2020 for fast-growing companies. It helps businesses manage compliance and fraud throughout the customer journey by analyzing rich data signals. With headquarters in San Francisco and offices in India, Singapore, and Dubai, BureauID has verified over 300 million identities globally and is backed by investors like Blume, GMO Venture Partners, and Okta. 

Key features and functionalities

• Money Mule Score: Advanced link analysis to detect suspicious behaviors and potential fraud using names, emails, and phone numbers.

• Liveness checks: AI-driven, iBeta-certified technology to ensure genuine interactions by verifying the liveliness of users.

• Advanced OCR (Optical Character Recognition): OCR technology that can accurately read and verify over 500 types of documents from more than 100 countries.

Target audience and use cases

BureauID caters to a wide range of industries and clients such as Aditya Birla, IIFL Finance, Navi, Zepto, Mahindra, Policy Bazaar, Shaadi.com, PokerBaazi, and Rapido.

Pricing

BureauID offers dynamic pricing depending on your industry and unique requirements. To know more about their pricing, fill out this form.

Here’s an alternative- HyperVerge 

HyperVerge is a leading platform in AI-driven digital identity verification and fraud prevention, boasting a global reach that spans over 195 countries. With best-in-class accuracy of 98.5%, it ensures secure and efficient customer onboarding while complying with global KYC and AML regulations. 

By leveraging advanced tech like passive liveness detection, biometric authentication, fraud pattern analysis, spoofing tests, and behavioral analysis, HyperVerge has verified a staggering 1 billion IDs, with an impressive 95% auto approval rate.

What sets HyperVerge apart is its speed—verifications are completed in under three seconds, significantly enhancing the user experience. This efficiency has helped reduce onboarding drop-offs by 50%, making it easier for companies to retain customers. Additionally, HyperVerge also supports diverse devices (100,000+), languages, and regional regulations and works efficiently even in areas with limited internet infrastructure!

Let’s further read about the features that set HyperVerge apart from its competitors.

Key features and functionalities

• AI-powered OCR document processing: HyperVerge’s advanced OCR tool extracts data with over 95% accuracy from documents such as passports, driver’s licenses, and residence permits.

• Biometric authentication: With best-in-class facial recognition, it uses passive liveness detection to verify users, and also employs advanced models to combat deep fake fraud. 

• AML (Anti-Money Laundering) compliance: The platform offers real-time AML screening, including global sanctions and watchlist checks, as well as Politically Exposed Person (PEP) screening to ensure compliance.

• No-code workflow builder: Businesses at HyperVerge can create customized, drag-and-drop workflows for efficient and tailored customer onboarding processes.

Target audience and use cases

HyperVerge caters to a diverse array of industries, including financial services, e-commerce, gaming, and cryptocurrency. Renowned brands such as Jio, Razorpay, ICICI, Groww, and Swiggy trust HyperVerge for their security needs. 

Pricing

HyperVerge offers flexible pricing tailored to businesses at different growth stages. 

• The Start Plan is ideal for startups, featuring a one-month free trial and quick integration in under four hours. 
• The Grow Plan builds on this with custom workflows and seamless document processing. 
• For larger organizations, the Enterprise Plan includes all Grow Plan features, plus collaborative tools, custom pricing, and dedicated support.

Overview of BureauID vs HyperVerge

Features	BureauID	HyperVerge
Money mule detection	✔	✘
Device intelligence	✔	✘
Behavioral biometrics	✔	✘
No-code workflow builder	✔	✔
OCR document processing	✔	✔
AML compliance	✔	✔
Deep fake detection	✘	✔
Face recognition with liveness	✔	✔
SDK and API integration	✔	✔
Global coverage	✔	✔

Key comparisons

Let’s dive deeper into what truly differentiates these two industry giants and how their features, target audience, security, user experience, and integrations compare.

• Features

Feature	BureauID	HyperVerge
Identity verification	BureauID offers a verification system that checks user identities against various data sources to ensure they are real.	HyperVerge uses advanced AI technology to verify identities, making KYC processes faster and more accurate.
Fraud detection	The ‘Money Mule Score’ helps identify potentially fraudulent users by looking at their behavior and data in real time.	HyperVerge uses advanced tech to detect fraud, including spotting deep fakes, liveness checks, and analyzing user behavior to prevent scams.
No-code platform	BureauID has a no-code platform that lets businesses create custom workflows without needing technical skills.	HyperVerge provides a no-code workflow builder that allows users to design personalized customer onboarding with a simple drag-and-drop system.
Document verification	BureauID uses advanced Optical Character Recognition (OCR) to accurately check and verify over 500 types of documents from more than 100 countries.	HyperVerge’s AI-powered OCR can extract data from various ID documents with over 95% accuracy.
Behavioral biometrics	BureauID looks at more than 200 device characteristics and user behaviors, like typing speed and scrolling habits, to assess if a user is legitimate.	HyperVerge uses passive liveness checks, single image liveness checks, and facial recognition technology to confirm user identity without any extra steps.
Compliance	BureauID’s platform includes strong Anti-Money Laundering (AML) features to ensure compliance with various financial regulations.	HyperVerge continuously checks users for KYC and AML compliance, keeping an eye on real-time sanctions and watchlists to prevent financial crimes.

• Target audience

BureauID serves fast-growing companies across industries like banking, fintech, insurance, gaming, and more. The ‘Money Mule Score’ that BureauID offers gives businesses a quantifiable metric to assess the risk level of each customer and is especially deployable in industries that deal with large volumes of cash transactions. 

HyperVerge caters to a broader range of industries, including financial services, healthcare, gaming, e-commerce, and crypto. Its AI-powered tools, passive liveness detection, and document verification make it particularly appealing for businesses requiring rapid, scalable, and global KYC/AML solutions. Plus, companies in industries with heightened regulatory scrutiny, such as financial services and crypto, benefit from HyperVerge’s strong fraud detection capabilities.

• Security

BureauID utilizes a combination of device fingerprinting, behavioral biometrics, and a comprehensive risk orchestration platform to mitigate fraud. 

HyperVerge’s passive liveness detection and deep fake detection capabilities allow for secure identity verification while ensuring genuine user interaction. They also include spoofing detection and forgery checks, ensuring that even sophisticated fraud attempts are caught early.

• User experience

BureauID’s user experience is streamlined through its no-code identity decisioning platform, allowing businesses to create custom workflows easily.

HyperVerge also focuses on user experience with its intuitive workflow builder that is customizable and requires no technical expertise. 

• Integrations

BureauID supports API and SDK integrations while offering a full suite of tools for document verification, biometrics, and compliance checks.

HyperVerge also offers API and SDK integrations, with a focus on rapid deployment and ease of use. The company promises integration in under four hours and provides pre-built workflows for common use cases. Plus, HyperVerge’s tools are optimized for both mobile and web platforms, making it ideal for companies looking for minimal technical overhead.

Pros and cons

Now that we have thoroughly analyzed the different features of BureauID and HyperVerge, let’s quickly run through their pros and cons. 

BureauID pros 

• Rich data signals: BureauID takes fraud prevention a step ahead through its ‘Money Mule Score’ and ‘Device Intelligence’ features. This includes advanced device fingerprinting and behavioral biometrics, enabling businesses to identify suspicious patterns.

• No-code: BureauID’s no-code platform allows businesses to create custom workflows for onboarding, KYC, compliance, and fraud management without the need for extensive technical expertise.

• Strong guarantees: BureauID offers guarantees such as ‘Account Protection’ and ‘Chargeback Protection’, which ensure businesses are covered against identity fraud and financial losses.

BureauID cons

• Complexity of integration: Although BureauID offers a no-code identity decisioning platform, the initial setup and integration with existing systems may still pose challenges for some businesses. Organizations with less technical expertise might find the onboarding process complex, potentially requiring additional support or resources to implement effectively.

HyperVerge pros

• Advanced AI capabilities: HyperVerge employs industry best AI technology for detecting deep fake videos and images, enhancing the reliability of identity verification processes.

• Exceptional passive liveness detection: HyperVerge is a top choice when it comes to passive liveness detection ensuring that only genuine users are authenticated without super intrusive measures.

• Quick and efficient: HyperVerge ensures fast detection of potential fraud, with processing speeds of under three seconds, helping improve customer experience and drastically reducing drop-offs during onboarding.

• Inclusivity: HyperVerge’s solutions are race agnostic, making them effective for a diverse user base, regardless of demographic differences. Plus the platform caters to a wide range of sectors, including finance, healthcare, e-commerce, and education, providing custom solutions for different business needs.

HyperVerge cons

While HyperVerge continuously enhances its systems with new technology and AI, this evolution may lead to occasional adjustments. Although there have been no reported complaints so far, we at HyperVerge remain open to addressing any user concerns as they arise, ensuring that clients are supported throughout their journey.

Hear it directly from the users

• BureauID reviews

“Bureau’s digital solutions used by Uni for their lending partners have significantly reduced the risk of fraud by leveraging solutions around key information such as name, email, and device-related information. Additionally, the Bureau’s digital footprint variables for phone numbers and email addresses play a crucial role in the digital authentication of customers. The best part here is the availability of solutions in real-time which is best suited for digital players to catch the fraudsters without impacting the genuine users.”

Risk and Compliance Team, Uni Cards

• HyperVerge reviews

Capterra reviews–

“Overall experience so far is good and the team has been responsive for support. Ease of using software and implementation in API environment.”

Sewa, AVP in India

“Very fast & responsive. The service has very little downtime and is easily able to detect the negative scenarios that can’t be easily detected by the human eye.’”

Tanmay,Manager-Operations in India

HyperVerge boasts an overall rating of 4.5 out 5 stars on Capterra.

G2 Reviews–

“When it comes to KYC I haven’t seen anyone do it as well as HyperVerge. Be it eKYC, cKYC, Digital KYC, Video KYC, they excel at it all. We have gone from a drop off rate of 38% to a drop off rate of 6% during KYC process. It adds to our topline revenue.”

Dinesh A.,Co-founder and CTO,Small-Business

“Their AI technology is highly accurate and advanced. They can detect deepfakes with 100% accuracy which is unmatchable. Their Hyperverge ONE platform has been of great help in building end-to-end onboarding journeys with ease. We have totally loved their quick support and seamless integration.’”

Jeel P, Chief Executive Officer, Small-Business

Choose HyperVerge for the smoothest identity verification journey

Today, businesses face a unique growing challenge: balancing security with user experience. HyperVerge, by prioritizing both robust security and customer satisfaction, is solving this problem.

Unlike many competitors, HyperVerge delivers an end-to-end verification journey, smoothly integrating all steps from document checks to user authentication. One of HyperVerge’s most impressive features is its ability to significantly reduce drop-off rates (more than 50%) during the verification process. This is made possible through highly accurate AI models that deliver an accuracy rate of ~98.5%, reducing the need for time-consuming manual reviews and minimizing errors.

Plus what truly sets HyperVerge apart is its single image liveness check. This innovative solution allows users to verify their identity using just one photo, simplifying the process and eliminating the frustration of multiple steps. Coupled with deep image analysis and advanced optical character recognition (OCR) that can handle documents from over 195 countries, HyperVerge ensures a super reliable verification process.

Today, HyperVerge stands out as a dependable ally in the fight against fraud. Choose HyperVerge to not only streamline your verification processes but also foster greater trust with your customers. 

To discover further how your identity verification processes can be simplified, explore HyperVerge ONE.

FAQs

1. What does BureauID do?

BureauID is a fraud prevention and identity verification platform; it offers solutions like money mule detection, device intelligence, and behavioral biometrics, providing real-time risk analysis across the customer journey.

2. What are the best identity verification solutions in India?

HyperVerge is a top choice for identity verification in India, offering AI-powered OCR document processing, biometric authentication, and deep fake detection. It offers quick and easy onboarding while ensuring compliance with global KYC and AML regulations. 

3. Which identity verification solution works best for NBFCs?

HyperVerge is an excellent choice for NBFCs, having already helped this industry save over $300 million in fraud losses. Its AI-powered identity verification offers a fast 10-second document collection time and can also help reduce drop-off rates by ~50%, increasing customer onboarding and retention.