eKYC for the Banking, Financial services and Insurance (BFSI) industry to Prevent Illegal Online Practices
eKYC (Electronic Know Your Customer) is an electronic process for verifying the identity of customers.
The goal is to use eKYC biometric technology to curb money laundering and enhance identity verification. In response to the growing threat of online financial fraud, the banking and insurance industries have adopted eKYC and AML (Anti-Money Laundering) standards to prevent fraud, money laundering, and fraudulent use of digital identity.
Many banks and insurance companies also gradually import AI facial recognition technology into their systems to prevent payment fraud, deter financial crimes, and enhance customer identification and authentication processes.
eKYC Process Flow
1. Fill in personal information
Create a user ID and information and confirm that the users are above the age of twenty.
2. Identity Verification
User ID verification and identity card information. Or Internet banking account verification.
3. Mobile Phone Verification
Use OTP dynamic password to verify the user's mobile phone number.
4. Complete registration
Complete user registration.
5. Enter the remote platform
Enter the remote service platform for the identification process.
6. Sign the consent form
Read the biological data storage and identification documents then sign the consent form.
7. System Data Matching
Check the ID card information with the DOI for accuracy.
8. Face recognition
Face and ID card comparison.
9. Data storage
Face data collection and storage.
10. Finish the EKYC process
After completing the EKYC process, enter the video conference room.
Ionetworks eKYC Face Recognition Technology Process
ID Card Authentication
Customers use their mobile phones or tablets to take photos of the front and back of their ID cards and then verify their authenticity.
ePassport NFC scanning
It can support electronic passport identification and read. And use NFC induction to read the identity information on the passport accurately.
Live recognition/anti-counterfeiting
It adopts visual anti-counterfeiting technology combined with biometric identification technology. Use 2D or 3D lenses for anti-counterfeiting identification. Effectively prevent the intrusion of masks, various photos, and videos on mobile phones and tablets.
Face recognition and ID card verification
AI face recognition will confirm whether the photo and the image on the ID card are of the same person.
OCR SDK
Customers can take a photo of their ID card, and use the document text reading technology to display the text recognition result in real-time. It also saves the time for customers to manually enter text, making the identification process more efficient.
Meeting SDK
Applicable to long-distance insurance. Integrate the recognition function of face/ID card anti-counterfeiting/OCR into the service.
Successful case
Results
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