CES 2021 Taiwan based startup AuthMe responds to digital banking transformation with turnkey solutions for eKYC and fraud detection

TAIPEI, Jan. 12, 2021 /PRNewswire/ -- AuthMe guarantees a faster and safer process to acquire new customers and to attract loyal engagement for a range of service providers in verticals of the emerging FinTech, traditional banking and finance, smart city, transportation with vehicle rental sharing, and social applications such as job hunting and dating apps.

As a Cybersecurity startup incubated by Taiwan Tech Arena (TTA), AuthMe is also a flagship startups' program fuelled by the Ministry of Science and Technology in Taiwan. AuthMe is being selected by TTA to exhibit online at CES 2021 along with the 100 featured Taiwanese startups.

What are the problems in the current KYC processes? —Time consuming, high operation cost, and questionable ID authenticity.

There have been pain points for a product or service to onboard their new customers when obliged to implement Know-Your-Customer (KYC) in order to provide a more personalized experience, or simply due to local regulators require so.

Now the verification process can only be initiated after customers upload required identification info, supporting documents, and a selfie, so that the service providers can take turns to start reviewing those applications and ensuring the legitimacy of IDs and other identity information that come with every single application is guaranteed.

It always consumes a lot of time, effort, and even human capital for both sides of the business—customers, to fill out an application form with countless required data and identity documents; while venders, to dedicate resources in manual reviews to authenticate applications, and sometimes, with a need to validate whether they are dealing with real persons-you never know when deepfake or fraud attacks of its sort coming at you!

How did AuthMe solve the problems?—Proprietary NFC ID Authentication Solutions.

With its patented technologies, AuthMe has tackled the problems and helps facilitate a much easier onboarding process through their eKYC solutions powered by Biometric ID verification, Facial Recognition and Liveness Detection, paired with Fraud Detection solutions to efficiently identify tampered documents, spoofing figures, abnormal IP, applications and behaviours.

Technically, the solutions help validate authenticity of data through NPK with a digital signature. Moreover, through biometric passport or an e-ID, the system retrieves data directly and compares the ID photo through facial recognition and liveness detection, ensuring the applicant to be the legit ID holder.

What are the values AuthMe provides?—Application Time Saved, Reviewers Cost Saved, and 100% Authentic IDs!

With the new eKYC and Fraud Detection services that AuthMe provides, manual efforts of customers to input required personal details will be replaced with auto filling, where data gets retrieved through document scanning via NFC Biometric ID authenticating technologies—tempered files from fraudsters can easily be detected and substantially discouraged.

Furthermore, by using the eKYC service combined with NFC enabled devices for data reading, in combination with facial recognition and liveness detection, it spares customers a long wait for operation controllers evaluating the already-valid applications, which creates a competitive advantage compared to other traditional competitors in the market.

Not only does AuthMe make it easier for service providers to lower all the labour cost and time needed in the past, which is relocated to other operations that create higher values for customer engagement, but also improves the customer experience by empowering them to finish all KYC procedures with ease! Last but not the least, AuthMe guarantees 100% ID authenticity and defends fraud attacks, greatly reducing compliance risks of service providers and fraud losses of customers.

CES 2021 TTA-VR Pavilion: https://pse.is/3ad73p

SOURCE AuthMe