Biometric authentication for KYC & AML compliance

KYC with Biometrics

A Strong Link between Physical and Digital Identities

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) regulatory challenge service providers to deliver strong as well as intuitive identity proofing.

With advances in biometric technology BioID can now support real-time eKYC implementations. The gamechanger is our patented liveness detection which enhances the long-proven face recognition technology. Through face live detection the user presence is checked and presentation attack detection (PAD) is carried out. The service provider can be absolutely sure 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, AUTOMATED KYC & AML IMPLEMENTATIONS ARE RAISED TO A “FACE-TO-FACE” LEVEL OF ASSURANCE (LoA).

How automated KYC Onboarding
could look like

  • The user comes to your site and wants to register.
  • You ask him to fill out the details and confirm his email address.
  • Let him take a snapshot of his ID on his cellphone.
  • An OCR reader checks the ID for validity.
  • You ask the user to take two selfies.
  • The selfies are checked for liveness and compared to the image on the ID.

Benefits of Biometrics assisted
identity verification

  • The registered user has a valid ID bound to their biometrics & account.
  • Instead of (or in addition to) creating an account with username and password, the user can now authenticate with their face to log on to the account.
  • Also, for use cases like password reset or account recovery, biometric authentication effectively prevents misuse through fraudsters.

Interested in our biometric fraud prevention?

Trusted KYC & AML processes

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 antibribery 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.

Fraud-proof biometrics 
are the key for eKYC and AML compliance.

KYC onboarding with biometric authentication for identity validation
Find out how biometric identity verification can assist
your authentication and onboarding!