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XDS launches web-based facial recognition customer on-boarding solution

XDS launches web-based facial recognition customer on-boarding solution

Banking & FinanceEnterprise SecurityIntelligent TechnologyMobileTop Stories

Xpert Decision Systems (XDS), the largest locally owned credit information bureau in South Africa, has launched a new automated facial biometric solution. This web-based solution will enable its clients to remotely and securely verify the identity of an individual in real-time, which is likely to reduce associated risks of third party fraud.

Vic Esterhuizen, Executive: Biometrics for XDS, said: “The novel global coronavirus (COVID-19) pandemic is presenting unprecedented changes even in these modern times. Not least of all, is the massive online migration, spurred by the lockdowns simultaneously being instituted in regions across the globe. As a result, we recognise that this is likely to lead to the biggest digital disruption markets have seen since the proliferation of Internet connectivity.”

As Governments, businesses, retailers and consumers alike are all coming to terms with the immediate change in context to the ‘new normal’, this understandably is driving significant growth in accessing products, services and entertainment through online and digital channels.

“In response to this, we have expanded our online Automated Biometric Solutions offering to ensure we support the continuity of our clients’ businesses and sales cycles, as proficiently as possible, now and for a post COVID-19 world,” added Esterhuizen.

The new Digital On-boarding Verification Solution (DOVS) is an extension of the XDS web-browser based Biometric Facial Modules offering that currently includes Face View and Face Match for in-store identity verification applications. DOVS is interoperable with existing systems and can easily scale to address the next level of remotely verifying the identity of an individual – regardless of the state of people mobility in the country.

Esterhuizen explained: “DOVS has been created to allow the user experience to be as simple and pleasant as possible. The solution allows a business to safely and securely verify the identity of a customer online, in real-time, by accessing the customers where they are through using the customer’s mobile device, such as a smartphone and our online facial recognition platform. This means there’s no delay for customers – and no lengthy wait for the business before being able to approve an account and/or a sale to a customer.”

Additionally, XDS has built in risk mitigation where its online platform also provides safe access to the systems of the relevant authorities through a secure link, as well as integrated advanced facial recognition software that uses 3D face mapping and real-time liveness testing, for a spoof-proof identity verification.

Despite the changing context today, eliminating financial crime and fraud remains of paramount importance to any business. However, added to this is the complexities faced by businesses in this digital age, with increased online presence and financial activity through a wide variety of payment channels – which we know has inadvertently also increased the number of avenues for criminal activity, and potential threats to businesses and consumers. “However, being able to verify the authenticity of a customer’s identity minimises the risk of doing business with customers – as you are able to quickly verify that they are who they claim to be – and thereby reduce the risk of fraudulent activities within the business,” said Esterhuizen.

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