UAE fintech launches KYC verification solutions

Friday 21 December 2018 13:38 CET | News

Monami Tech, a UAE-based fintech payments company, has announced the launch of Know Your Customer (KYC) verification solutions in the region.

EZmatch and EZverify are designed to deliver frictionless user experiences, whilst helping customers prevent fraud, mitigate risk and meet regulatory compliance during the onboarding experience.

EZmatch enables the creation of an ID by capturing customer’s photos using their mobile phone camera. The live photo is then detected by the customer moving their head, to avoid the risk of customer taking a photo of a photo. The photo in the ID is then matched against the captured photo from the phone to prove the ID belongs to the applicant.

EZverify, a real-time identity verification technology reduces the risk of fraudulent activity, while significantly saving time associated with the costs of meeting KYC requirements of the application or account creation process.

EZverify provides an interface with preloaded information and ability to reschedule the meeting with the customer, quick capture and checklist of data and biometric validation to allow the agent to validate the emirates ID using a biometric device provided by the financial institution.

Monami Tech provides a platform for lenders to onboard potential borrowers in minutes and then creates a credit worthiness profile using structured and unstructured data on that borrower. Currently live in Dubai, UAE, plans are afoot to expand to other regions over the next few months.

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Keywords: fintech, KYC, Monami Tech, identity verification
Countries: World

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