MatchMove adds facial verification to fintech platform onboarding process
Fintech firm MatchMove has added facial verification to its proprietary Banking Wallet OSTM to provide a responsive and less intrusive onboarding process, the company announced at the Seamless Asia 2018 digital payments conference.
Users with MatchMove’s co-branded physical or virtual ID card can scan the card and take a selfie with a smartphone for frictionless, fast identity verification, the company says. The biometric process complies with Singapore’s Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
“In today’s app world, customers and businesses are impatient to find good payments solutions while cybercriminals are proliferating and regulators are demanding more stringent checks,” said Ashley Koh, Senior Vice President and GM at MatchMove. “As an innovative digital payments solutions provider to enable facial biometric technology, we are well ahead of the curve to embrace a seamless user onboarding experience. We will continue to innovate and fulfill our mission of improving the quality of lives as we expand our footprint to become the world’s largest and safest mover of digital money.”
Using biometric technology to compare a selfie to an identity document is becoming a popular way to onboard users for financial accounts, as also shown by the recent introduction of similar technology by New Zealand bank ASB.