AML & KYC with biometrics Know Your Customer

KYC with Biometrics - Know Your Customer

eKYC and AML with biometric liveness detection

Like no other authentication method, biometrics explicitly bind individuals to their digital representatives. In the online world, this is the key to preventing identity theft and fraud issues. At the same time, KYC (Know Your Customer) as well as Anti Money Laundering (AML) regulations challenge service providers to deliver strong as well as intuitive identity proofing.

With advances in biometrics BioID supports real-time eKYC implementations. The gamechanger is our patented liveness detection which enhances the long-proven face recognition technology. Through face live detection, user presence is checked and presentation attack detection (PAD) is carried out. Service provider can trust that the authenticating or registering person is no fraudster trying to fake the biometrics of a customer.

For KYC onboarding processes, our PhotoVerify technology additionally matches the image on an ID with the live person in front of the camera. This way, it can be clarified whether the used ID actually belongs to the person presenting it.

WITH BIOID PHOTOVERIFY, AUTOMATED KYC & AML IMPLEMENTATIONS ARE RAISED TO A “FACE-TO-FACE” LEVEL OF ASSURANCE (LoA).

How automated KYC Onboarding
lookS like

  • Let the user take a snapshot of his ID on his cellphone.
  • The ID is checked for validity/authenticity.
  • You ask the user to take two selfies.
  • The selfies are checked for liveness and compared to the image on the ID.
  • The ID ownership is verified biometrically, the identity proofing process is done!

Benefits of Biometrics assisted
KYC identity verification

  • Regulations like KYC and AML can be addressed with a low-cost remote identity proofing process.
  • Frictionless user experience & real-time selfie verification.
  • Effective fraud prevention through liveness detection and highly accurate biometric ID-photo matching.

Interested in our biometric fraud prevention?

Trusted KYC & AML with biometrics

The KYC guidelines have been introduced to prevent financial institutions from being used for money laundering. There is a great need for capturing anti-corruption due diligence information with high trust-levels. As Know Your Customer processes are costly for banks and cumbersome for customers, innovative solutions for ID verification support automation and raise trust levels at the same time.

For being anti-bribery compliant service providers need to be sure of their customers’ legal identities. Thus, user presence has to be guaranteed in unsupervised situations. At the same time, customers demand convenient and quick processes.

BioID’s PhotoVerify enables fraud-proof biometric verification of ID ownership and is the key for eKYC and AML compliance.

Find out how biometric identity verification can assist
your KYC authentication and onboarding