Continuing with FacePhi Grow your business in South Korea, one of its main markets and the location of its subsidiary in Asia. Alicante’s tech announced this Friday that it has entered into a deal with Alicante. fintech PeopleFund, It will use facial recognition technology developed by the company headed by the company. javier look to identify your customers online lending process.
In this way, Korean entrepreneurs, startups and investors are already open an account and request a loan with your mobile device anytime and anywhere without the need to make a video call with a bank representative. An application will be enough for this. selfies Thanks to the unique and inalienable biometric pattern obtained from the faces of the users, they will be able to identify themselves with complete security and minimize possible frauds arising from identity theft, the main threat of the financial sector.
Another benefit of using Facephi biometric facial recognition is that it complies with the security requirements set by PeopleFund’s P2P Funding Act. Approved by the Korean government. This is the first law in the world to regulate non-bank loans for businesses and financial users and recognize accepting Facephi as a valid identification method.
Dongpyo Hong, CEO of Facephi APAC, said, “After getting our technologybanks, financial groups, cybersecurity companies, hospitals and smart citiesWe continue to strengthen our presence in Asia by protecting the digital identities of people at fintech companies as devastatingly as PeopleFund.”
Minseung Kang, PeopleFund’s chief technical officer (CTO), said, “Until now, PeopleFund has sought to provide high-end security systems that can prevent financial fraud and increase the convenience of remote financing.” “By applying this solution, we hope thatidentity theft prevention or fraud through professional brokers,” adds the executive.
300 million users
Alicante-based technology company Facephi specializes in verifying users’ digital identity to create safer, more accessible and fraud-free digital processes. To achieve this, it is committed to innovating with artificial intelligence and machine learning, applying blockchain technology, and promoting decentralized digital identity. Already on Facephi 300 million users and 150+ customers worldwideWith over 95% retention rate.
The firm is one of the technology companies with the biggest breakthrough in the province and is also one of the pioneers to propose the application. four-day work week for your workers.