Bahrain’s first fintech company joins hands with Accura Scans to adopt their powerful AI-based OCR technology.
As the world moves towards a digital future, the first Bahrain-based fintech company, NEC Payments, has taken another step in making the long and tiring KYC and identity verification process shorter and easier. With its collaboration with Accura Scan, the company successfully shifts to digital KYC for onboarding and compliance.
As most businesses worldwide rely on transactions and the risk is the same for all, businesses need to adopt powerful AI-based OCR app technology to minimize the risk. Since every transaction that occurs globally cannot be verified manually, the process of KYC verification and monitoring transactions through AI-based systems is taking over the financial sector exponentially.
As a digital banking and virtual payments platform, this partnership will prove beneficial for NEC Payments. Since their launch, NEC Payments has provided an integrated platform of technologies to power digital financial services for consumers and businesses. Through this collaboration with Accura Scan, the company aims to make onboarding and compliance easier and focus on powering multi-channel and multi-currency transactions globally. Their upgraded systems provide various services.
The new identity verification service acquired works using an AI-based verification system to seamlessly carry out user onboarding and compliance. Accura Scan’s most efficient ID card reader aims to speed up transactions with added security.
The ID card scanner by Accura Scan accurately scans and verifies ID proofs in less than 500ms. The 3D face recognition and liveliness check and AI-based matching of the user’s face with the ID card photo ensure accuracy and security. Real-time user authentication uses a simple selfie to unlock a customer’s digital identity, making the process easier.
Along with verifying ID proofs and auto-fill documents, Accura Scan’s OCR scanners also help enhance the KYC verification process. It also makes the digital KYC process more accurate with a liveliness scanner to ensure that the person is doing the transaction himself. The SDK also stores the data locally, making it accessible offline at all times. The OCR reader paired with AI Powered face recognition as well as a secure authentication system is ideal for hastening the work-flow.
The AI-powered reader swiftly retrieves digital data with simple authentication, such as a real-time or biometric scan. The highly efficient OCR scanner by Accura Scan will enhance the productivity of NEC Payments by speeding up processes like digital KYC and identity verification services.
Accura Scan is a leading AI-based tech company that primarily works with scanners to improve digital payments’ accuracy and speed. Their OCR and MRZ readers seamlessly integrate with the existing technology at a company to streamline retrieving data and documentation. Their products are compatible with the most popular operating systems and androids, and iOS creates a seamless experience on both ends.
The innovative technological solutions by Accura Scan have helped reduce the costs and risks of document verification and storage for clients across the globe.
For more details about Accura Scan’s services, email your queries to connect@accurascan.com.