Selfie biometrics back regulatory compliance for eNotary platform, mobile loan app, gaming service
Ahead of proposed U.S. remote eNotary legislation, KYS-Tech has entered a partnership with Mitek to integrate Mitek’s Mobile Verify with its remote online notary platform. The partnership is meant to help companies comply with eNotary documentation standards and ensure secure identity verification.
The new measures taken due to COVID-19 have forced notaries to turn to digital services and issue remote online notarizations. U.S. Congress is focusing efforts on the Standardization and Secure Notarization Act, which would allow U.S.-based notaries to provide online notarizations.
“We are living in unprecedented times,” said Sanjay Gupta, Mitek vice president, in a prepared statement. “Digital transformation is now a matter of thriving, not just surviving. Companies that formerly transacted primarily in person have been forced to embrace a digital-first approach to business operations. At Mitek, we are honored to partner with KYS-Tech to offer the most secure notary services available today.”
KYS-Tech delivers online notarization for any online file. To make sure documents do not end up with unauthorized parties, Mobile Verify asks users to provide a picture of their government-issued ID with a biometric selfie and answer some questions to confirm identity and authenticity.
“Mitek is a global leader in mobile capture and digital identity verification known for its strict adherence to current compliance and regulatory requirements and certification,” said Terry Van Bibber, KYS-Tech founder and CEO in a prepared statement. “Mitek allows KYS-Tech to analyze government identity documents in the market, including hundreds in the U.S. alone. This professionalism, expertise and support allows us to provide unparalleled service to any business needing notarial services.”
Hong Kong loan company adds selfie biometrics to ‘click to loan’ mobile app
Hong Kong-based loan company United Asia Finance Limited (UA) has upgraded its AI-powered Yes UA mobile app with multi-layered real-time identity authentication with facial recognition that processes all types of ID cards.
Yes UA is a money lender service that works with a click on a mobile app, allowing customers fast loan access from a remote location.
According to Akihiro Nagahara, managing director and chief executive officer of UA, when the app was first introduced in 2019, it received tremendous support and positive feedback. This encouraged UA to add new features to improve user experience and provide a seamless and frictionless loan service process.
As of June 30, over 2.1 million citizens had been issued new smart identity cards, but not all financial and wealth management services provide identity authentication support. During the loan application process, users have to provide a photo of their ID, take a selfie and the system extracts customer information and processes it for authentication.
In January 2019, UA launched its FinTech and Innovation Department to pursue work on innovative financial services.
Footstock chooses HooYu KYC tech for customer onboarding
Following eight-fold growth in just three months, football gaming company Footstock has integrated HooYu biometric KYC technology for its customer onboarding process to ensure a seamless and frictionless digital journey, writes European Gaming.
Before partnering with HooYu, Footstock had a manual KYC process which took nearly a day to approve registrations. HooYu technology now provides biometrics, identity database checks, ID document validation, proof of address matching and PEPs and Sanctions checks to verify customer age and identity. It has reduced the process to a few minutes.
“Any delay or obstacle in the customer sign-up process is an opportunity for that customer to abandon and drop-off but HooYu has been able to automate and streamline the KYC process for us,” said in a prepared statement James Copewell, CMO at Footstock.
“The Footstock fantasy football proposition has hit the back of the net now that real-life football is back, and I’m sure they will continue to grow with HooYu here to help them balance the twin demands of KYC compliance and customer experience,” said in a prepared statement David Pope, Marketing Director at HooYu.