The Lithuanian identity verification specialist iDenfy has found another customer for its face-based onboarding solution. The company has revealed that KogoPAY will now be using its technology to verify the identities of people signing up for its financial platform.
iDenfy’s solution uses face and document recognition to enable a more streamlined onboarding process on mobile devices. Customers can use their smartphone to take a picture of a photo ID, and then take a selfie to make sure the two are a match. The solution minimizes the amount of time needed to register new customers while still allowing companies to comply with the latest Anti-Money Laundering and Know Your Customer regulations.
KogoPAY, on the other hand, is a digital financial platform that allows users to send and receive money (both locally and internationally) in multiple currencies. The app also offers support for in-store payments through the use of QR codes. Thanks to the partnership with iDenfy, KogoPAY customers will no longer need to rely on PINs, and will instead be able to log in and authorize transactions with secure facial biometrics.
“iDenfy’s solutions support our robust offering in wallet-to-wallet payments and foreign exchange, reinforcing our commitment to secure payments and currency transfers across the globe,” said KogoPAY CEO and Founder Narisa Chauvidul-Aw.
“We’re thrilled to work with KogoPAY,” added iDenfy CEO Domantas Ciulde. “The solution is an impressive resource for customers of all kinds who want to transfer funds from one wallet to another using multiple currencies.”
KogoPAY joins an iDenfy client roster that already includes DSBC Financial, PanPay, and TalentClouds, the latter of which operates a workforce management and hiring platform. PanPay, meanwhile, is using iDenfy’s tech to facilitate financial transactions between China and the European Union. In December, iDenfy partnered with the Russian computer vision company Smart Engines in an effort to improve its document capture capabilities.
March 22, 2021 – by Eric Weiss