Like no other authentication method, biometrics explicitly binds individuals to their digital representatives. In the online world, this is the key to preventing identity theft and fraud issues.
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At the same time, KYC (Know Your Customer), as well as Anti Money Laundering (AML) regulations, challenge service providers to deliver strong as well as intuitive identity proofing. With advances in biometrics, Pixl Solution supports real-time eKYC implementations.
The gamechanger is our patented liveness detection which enhances the long-proven face recognition technology. Through face live detection, user presence is checked and presentation attack detection is carried out. A service provider can trust that the authenticating or registering person is no fraudster trying to fake the biometrics of a customer.
Benefits of Biometrics Assisted KYC Identity Verification
- Regulations like KYC and AML can be addressed with a low-cost remote identity proofing process.
- Frictionless user experience & real-time selfie verification.
- Effective fraud prevention through liveness detection and highly accurate biometric ID-photo matching.
Besides, increased mobile usage urges businesses to have a mobile-first focus and develop fully mobile user-friendly onboarding experiences.
During the selfie process, to avoid fraud using a static image, aliveness detection shall be provided by the technology.
Liveness detection proves that the selfie taken comes from a live person. Adapting to current customer preferences, financial institutions (FIs) invest in digital onboarding through online and mobile channels.
The KYC guidelines have been introduced to prevent financial institutions from being used for money laundering. There is a great need for capturing anti-corruption due diligence information with high trust levels. As Know Your Customer processes are costly for banks and cumbersome for customers, innovative solutions for ID verification support automation and raise trust levels at the same time.
For being anti-bribery compliant service providers need to be sure of their customers’ legal identities. Thus, user presence has to be guaranteed in unsupervised situations. At the same time, customers demand convenient and quick processes. Our solution enables fraud-proof biometric verification of ID ownership and is the key for eKYC and AML compliance.