eKYC: Security solution or customer hindrance?
However, along with this comes the issue of identity fraud. Fraudsters are individuals attempting to scam or hijack customer accounts, assets, or personal information by using fake images, videos, or audio to bypass the eKYC system. These fraudsters continuously develop more advanced tactics to attack systems, such as using screenshots, masks, or deepfake technology.
To combat identity fraud, eKYC solutions must both evolve and immediately address fraudsters in the short term. A common approach is to instantly raise the system's spoof detection threshold. A high blocking threshold can be effective against fraud, but it comes at the cost of the identity verification experience for some genuine users.
Unreasonably tightening the system can lead to negative consequences:
- Reduces customer conversion rates when they face too many steps or obstacles in completing identity verification.
- Undermines customer trust when they feel rejected or suspected while using facial recognition eKYC.
- Causes inconvenience to customers due to technical errors or shortcomings in the facial recognition eKYC process, such as failure to detect faces, mistaken identity, issues with lighting or accessories, etc.
So how can we have a facial recognition eKYC solution that ensures both reliability and customer experience?
SmartKYC Solution by GMO-Z.com RUNSYSTEM supports reading data from chip-based citizen ID cards and cross-verifying with the National Population Database of the Ministry of Public Security.
- SmartKYC uses advanced technologies such as artificial intelligence, deep learning, and machine learning to accurately and quickly analyze and compare real and fake images.
- Combining both elements, SmartKYC is the best spoof detection and prevention solution on the market, already deployed in banks and capable of determining an appropriate detection threshold.
- The solution also adapts to various customer environmental conditions, such as camera performance, lighting, and capture angles.
- SmartKYC ensures thorough handling of fraudsters while maintaining a seamless experience for genuine customers.
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Smart Solutions – The Digital Transformation Solution Ecosystem
Digital Transformation Division under GMO-Z.com RUNSYSTEM
Website: https://ssolutions.vn/
Hotline: 097 583 0096
Location: Hanoi – Hue – Da Nang – Ho Chi Minh City – Tokyo
