Comviva, one of the global leaders in providing digital financial solutions, today announced that it has partnered with Accura Scan, one of the world’s leading and most advanced digital KYC (Know Your Customers) and identity verification service provider. Comviva has a broad portfolio of banks, financial institutes and payment service providers that leverage its mobiquity® product suite, which powers over 70 digital banking, payments and wallet services in more than 50 countries. This partnership will allow Comviva to leverage Accura Scan’s state-of-the-art digital KYC and identity verification service to offer swift, smooth and secure digital onboarding and user verification solution to banks and payment service providers.
Accura Scan makes the user onboarding measure on an online banking and wallet process fast, productive and secure by checking the client archives with exactness and speed and doing continuous client confirmation distantly, forestalling frauds. Accura Scan’s Optical Character Recognition (OCR) innovation examines personality documents like National ID, driving licence and identification, and converts the filtered reports into records handily read by the machines with 100% accuracy. The data acquired by examining the personality documents can be utilized to autofill the KYC form to improve and accelerate the computerized onboarding process.
With the guide of Artificial Intelligence and Deep Learning, Accura Scan helps in digital and computerized KYC check. Accura Scan utilizes a video Selfie and matches the client Selfie with the photograph appeared in the character report to do continuous User Verification and confirmation. Accura Scan additionally does a Liveness Check to discover individual was introduce oneself while doing the Digital KYC. Accura Scan utilizes novel 3D Selfie innovation to catch many pictures of individuals when they take a Selfie video to confirm themselves and makes a 3D personality map that can’t be ridiculed. Accura Scan gives face match Score and Liveness score in no time, speeding up the computerized KYC process, while guaranteeing full consistence and security.
Comviva has already deployed Accura Scan’s digital KYC and identity verification solution in one of the top banks in Middle East region.
Speaking on the partnership, Srinivas Nidugondi, COO and EVP, Digital Financial Solutions, Comviva said, “Comviva’s mobiquity® product suite is constantly evolving with a strong focus on the industry and is embracing cutting edge technologies for growth and innovation. The digital onboarding is a key functionality of the product and is highly configurable and can be customized depending upon the requirements of the customers. COVID-19 (Corona Virus) has accelerated the digital transformation in banking and payments industry with special focus on digital onboarding of users. Thus, Comviva is joining hands with Accura Scan techno labs to provide a pre-integrated digital KYC solution as part of the onboarding functionality in its mobiquity® product suite. This partnership will significantly accelerate the time to deploy mobiquity® in banks and payment service providers offering best digital services.”
Speaking on the partnership, Yasin Patel, CEO, Accura Scan said, “Accura Scan provides a comprehensive set of digital KYC services which includes document verification and OCR, face match, identity verification, ID Forgery and video KYC. The OCR product improves the user experience by enabling scanning of identity documents to capture required data for KYC, instead of one by one typing the information. This, coupled with document verification, provides a confidence score for the document, and prevents fraud or counterfeit documents getting presented as part of KYC. The face match product uses machine learning capabilities to verify that the user’s picture is same as that in the identity document. Liveness detection, based on artificial intelligence, further strengthens the digital KYC process by ensuring that person is online or live during the onboarding process. Our partnership with Comviva will help us to extend these digital KYC services to mobiquity® product suite deployments, and provide swift, flexible and secure digital onboarding and user verification service to the consumers.”
Comviva’s mobiquity® product suite includes mobiquity® Banking suite and mobiquity® Pay.
mobiquity® Banking Suite provides a comprehensive solution to banks and financial institutions to build, manage, optimize and deliver the multi-channel banking experience, as well as continuously iterate and connect the consumers, through instant configuration capability, personalization and experimentation engine. This empowers banks to deliver a consistent, Best, unified and hyper-personalized experience, thereby enhancing the consumer’s value, and, subsequently, profitably transition to the digital era. It also delivers seamless, reliable swift and secure digital payments to the customers, by facilitating prepaid wallet and leveraging technologies such as HCE, tokenization and QR Code.
mobiquity® Pay is a one-stop solution for digital money, e-wallets, and mobile payments. mobiquity® Pay is a holistic platform that serves users, service providers and partners, and it facilitates online payments for all customer segments banked or unbanked through all form factors and modes, including USSD, mobile applications, IVR, Web, QR codes and NFC. For financially underserved consumers who need a digital wallet, mobiquity® Pay offers a stored value account in the form of a prepaid digital wallet. This solution can facilitate multiple financial transactions, including money transfers, bill and merchant payments, financial-aid disbursements, salary payments, B2B payments and more. It also provides access to micro-financial services, like savings, loans and insurance. For banked and carded consumers, mobiquity® Pay provides the option to do payment using a credit card, debit card or bank account.