Banco Agrícola deploys Mobbeel’s biometric digital onboarding technology
Banco Agrícola in El Salvador has deployed biometric digital onboarding technology from Mobbeel into its mobile banking application to quickly and securely onboard new customers remotely while meeting KYC requirements.
The MobbScan solution uses government ID document verification plus selfie facial recognition with liveness detection to ensure that the digital onboarding process is carried out by the document’s legal and true owner.
Veentrix, Mobbeel’s local partner in Central America, headed up the project.
Improvements in facial biometrics and document verification based on machine learning and artificial intelligence plus access to a range of verifiable identity signals and data are driving the global market for digital identity and document verification services, which will be worth revenues of more than $15 billion by 2024, according to Goode Intelligence.