Regula, Contactable and ID Secure join forces for KYC to fight fraud in Africa
Regula has been selected to provide identity document recognition for a solution developed by South Africa-based Contactable in partnership with ID Secure. The partners intend to offer their joint technology to combat identity fraud across Africa, according to a company announcement.
The companies say that identity fraud is increasing in Africa, citing a FICO study that shows one in seven South Africans have experienced an ID scam.
Regula’s technology is integrated with Contactable’s digital identity and KYC orchestration platform to recognize the type of a scanned identity document, automatically read the data it holds, and then cross-check the data. The solution also extracts photos from ID documents for biometric comparison to a selfie or a facial image held by a government entity, such as the national population register operated by South Africa’s Home Affairs.
Regula says it has an extensive, proprietary ID document template database with more than 12,000 templates of IDs from 247 countries and territories.
“Digital identity verification implies multiple issues to pay attention to in order to build a trustworthy service that is capable of frictionless onboarding of legitimate users and stopping fraudsters,” says Ihar Kliashchou, chief technology officer at Regula. “We are proud of our partnership with Contactable and look forward to contributing our decades-long expertise in forensics and document research to modern and highly demanded remote identity verification services.”
“Having access to global partners who continue to evolve and extend their services gives our Contactable clients a depth of solution that is both world class and locally relevant,” comments Daniel Robus, Contactable CRO. “The Regula team is responsive and customer centric, which is what is needed when dealing with sensitive processes such as customer onboarding and KYC. At Contactable, we have to remove obstacles from the process, and therefore the right partners are key. Regula is one of those.”
Contactable introduced selfie biometrics through a partnership with Tech5 last year.