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FaceTec partners with regtech firm to deliver facial authentication and liveness biometrics for eKYC checks

FaceTec partners with regtech firm to deliver facial authentication and liveness biometrics for eKYC checks

Cynopsis Solutions, one of Asia’s fastest-growing most recognized fintech firms, is implementing biometric facial matching and 3D liveness detection technology from FaceTec to help simplify regulatory compliance for its clients, according to a company announcement.

FaceTec’s biometrics will be integrated with Cynopsis’ ARES digital user onboarding platform, which is then integrated with clients’ frameworks to perform eKYC checks for real-time identity verification. The biometric technology assesses dozens of human attributes, including micro-movements, reflections and textures, captured by a standard consumer mobile device or webcam, to confirm the user’s presence within two seconds.

Cynopsis provides regulatory technology to the banking, financial services, professional services and gaming sectors, with more than 1,600 global clients. The company has developed an onboarding and continuous authentication solution it says is fast and easy to use, effective and configurable.

“Digital Authentication is now the primary way we ensure users are who they purport to be, so it is essential to verify that the person creating or accessing an account is not just providing the user’s stolen information, but that the real user is physically present during the interaction, and is doing so from any device,” states FaceTec CEO Kevin Alan Tussy. “Our AI verifies that the user is legitimate, and can prevent unauthorized account access that leads to account takeover, ID theft and fraud, money laundering, and many other cyber attacks. Our unrivaled biometric security layers add confidence to Cynopsis’ already highly effective ARES onboarding solution, and provide their customers with a significant competitive advantage.”

“Digital onboarding is an important starting point of the full KYC and AML cycle. To ensure that we offer a highly secure, comprehensive world-class solution to our clients globally, partnering with FaceTec provides the perfect environment for our clients to pursue new and legitimate opportunities in a quick and frictionless experience, and yet are able to achieve regulatory advantage by staying on the right side of regulations,” says Chionh Chye Kit, CEO and co-founder of Cynopsis Solutions.

FaceTec also beefed up its biometric liveness detection spoof bounty program this week.

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