Key facts
- World ID for banking and finance offers tools to confirm real people behind transactions.
- Proof of Human, Proof of Presence, and Proof of Attributes are core offerings.
- Deloitte forecasts AI-enabled fraud losses in the U.S. to reach $40 billion by 2027.
- Over 18 million people hold a Proof of Human ID.
- The World Foundation raised $52.5 million this year.
World, the identity project co-founded by Sam Altman, has introduced World ID for banking and finance, a suite of tools designed to help financial institutions verify that real humans are behind transactions. The offering aims to combat the growing threat of AI-enabled fraud, with Deloitte forecasting U.S. losses to reach $40 billion by 2027. Initial design partners include Bain Capital, Pantera Capital, VanEck Funds, OpenExchange, and Outtake. The system utilizes cryptographic proofs, including iris scans via World's Orb devices, selfie liveness checks, and government ID verification, to establish identity without collecting sensitive personal data. Banks could use these proofs for approving transfers or recovering accounts. The project also includes AgentKit for delegating proofs to AI agents and World ID for Zoom, which adds a 'Human Badge' to video calls. More than 18 million people currently hold a Proof of Human ID.