Yoti, Synetics announce biometric digital identity and e-KYC risk assessment onboarding solution

Tuesday 21 April 2020 12:19 CET | News

Yoti and Synectics Solutions have developed Project Endeavour, a real-time electronic digital identity and e-KYC risk assessment onboarding solution with facial biometrics for the banking industry. 

The project is based on intelligence from Dow Jones Risk Solutions and is supported by Konexo, the regulatory and compliance division of Eversheds Sutherland. As per their agreement, the aim of Yoti and Synectics is to make financial services more accessible to a young and digitally-savvy market segment, as well as cut down cost and time required to verify identity and run real-time due-diligence checks.

The first step in rolling out the project involves contacting leading financial institutions in the UK interested in leveraging Yoti’s access to a large digital marketplace of customers. Endeavour is a shared e-KYC and customer acquisition platform for regulated financial services institutions that leverages Yoti’s digital identity platform for onboarding and provide a full real-time CDD assessment. Some of the benefits Endeavour can bring are regulatory effectiveness, access to pre-vetted accounts, reduced operational overheads, accelerated customer journey, cost efficiency, and ease of operational integration.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Yoti, Synetics, biometrics, digital identity, e-KYC, risk assessment, onboarding, banks, banking, financial institutions, UK, identity, CDD, checks, accounts
Categories: Fraud & Financial Crime
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime

Industry Events