22 July 2017
visit www.finastra.com

G&D couples video verification with Danal Mobile ID for KYC

28 February 2017  |  1994 views  |  0 Source: Giesecke & Devrient

G&D, a global leader in mobile security solutions and Danal Inc., a global leader in mobile identity, authentication & verification services, will jointly present a solution at the 2017 Mobile World Congress in Barcelona, where the G&D Video Identification service coupled with Danal Mobile ID services, present a very strong remote KYC (Know Your Customer) and AML (Anti-Money Laundering) compliant offer for online regulated industries.

In many countries, regulated industries such as banking, gaming and insurance, still require a live person to perform the regulatory compliant KYC or AML check. As these traditional businesses move online, this requirement can still be met using strong identity verification and document checks with a live agent via video conferencing. When this is combined with the GSMA's Mobile Connect, for strong mobile authentication and the matching of personal data attributes captured from the manual entry by the applicant, ID documents and the subscriber information on file with the mobile operators, the verification is as strong, if not stronger than in-person checks. Mobile Connect is a mobile-based secure universal identity solution, defined as standard by the GSMA, which works by matching the user to their mobile phone number.

This presented solution significantly lowers the costs and time taken to perform KYC and is compliant with new AML (Anti Money Laundering) and CFT (Counter Financing of Terrorism) directives, while at the same time significantly improving the overall KYC experience for the user. This is the first time an online video identification service for KYC is combined with additional verification based on mobile network operator's authoritative data.

The approach implements Mobile Connect authentication in addition with the end user's consent to their Mobile Network Operator for sharing personal data attributes for this additional check. Mobile Connect is fulfilling an important role in the digital identity space, giving users control over their own data and enabling end users, businesses, and governments alike to interact and access online service in a convenient, private and trusted environment. Orange Spain subscribers will be able to engage with this demonstration with live Mobile Connect experience.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit www.finastra.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
13216 views comments | 19 tweets | 15 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
9360 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
8423 views comments | 16 tweets | 12 linkedin
hands typing furiouslyThe Digital Trade Chain: the blockchain tr...
8086 views 0 | 7 tweets | 16 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
6932 views comments | 25 tweets | 15 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job