Korea Investment & Securities (KIS), a leading financial investment services provider, no longer requires bank transfers for new account validation
Facephi’s biometric technology has been adopted by Korean company KIS, allowing its clients to open and access their accounts easily, quickly and securely. Now, by simply taking a selfie with their mobile device, the system accurately and securely authenticates them so that they can access their accounts without the risk of identity theft.
The new process replaces the legacy verification system of KIS, which required new clients to transfer a nominal fee for account validation. Clients are accurately verified with a simple selfie, which compares their unique and irreplicable biometric face pattern to that of their identity document.
Facephi’s technology also incorporates innovative passive liveness technology, which determines whether the person’s presence is genuine rather than a captured image or video fraudsters might use to trick the system. Not only does passive liveness offer the highest level of security but it is also far more convenient than alternatives, requiring no specific actions from person it authenticates.
Korea Investment & Securities is considered the best financial investment company in Korea and aims to upgrade its investment banking presence in Asia and the rest of the world. To that end, KIS is strengthening its capital, expertise and network capabilities while establishing new growth opportunities abroad. By incorporating Facephi’s biometric technology into their onboarding and authentication processes, KIS reaffirms their commitment to protecting financial consumers.
According to Dongpyo Hong, CEO of Facephi APAC, “KIS’s confidence in applying our technology for its onboarding services is a great endorsement for Facephi, which is strengthening its position as one of the most versatile biometric technology providers in Korea.”