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News

Daon to offer TONIK onboarding and mobile biometric authentication solutions

Wednesday 18 March 2020 12:55 CET | News

Daon has announced that it will deliver onboarding and mobile biometric authentication solutions to TONIK Digital Bank (TONIK), a digital-only bank in Southeast Asia. 

TONIK has received Notice of Approval for a new banking license from the Central Bank of the Philippines, which will enable TONIK to provide a full range of retail banking services, focused primarily on retail deposits and consumer loans, through the first digital-only branchless bank licensed platform in the Philippines. 

Daon will offer its IdentityX as a Service cloud offering for onboarding. Thus it will provide a seamless, all-digital onboarding path for the bank’s customers, while meeting AML and KYC regulations for identity verification during account opening. Customers will use biometric factors based on the Fast IDentity Online (FIDO) standards – fingerprint, face, and voice matching on the server for ongoing authentication.

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Keywords: Daon, onboarding, mobile biometric authentication, TONIK Digital Bank, identity, Southeast Asia, bank, loans, banking services, fingerprint, Face, voice, accounts, AML, KYC
Categories: Fraud & Financial Crime
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