AI-Powered e-KYC Service: The Future of Self Verification

Due to legal regulations, businesses across various industries are obligated to incorporate identity verification into their processes. Modern customers expect businesses to provide this service to ensure the utmost security for every transaction they make. In the past, customers often needed to submit documents and verify their identity in person, which was time-consuming and inconvenient. As a result, digital identity verification, or e-KYC (electronic Know Your Customer), has replaced traditional verification formats. It allows customers to verify their identity online from any location at their own convenience. Moreover, the service significantly enhances transaction security and effectively mitigates the risks of identity fraud and corruption.

A man using an e-KYC service

AIGEN has pioneered an AI-powered e-KYC service designed to cater to the requirements of modern businesses seeking to enhance their online identity verification processes for greater convenience, security, and automation. The e-KYC service offers a robust online identity verification feature which is seamlessly integrated with businesses’ existing websites and applications for convenient and rapid implementation. This service not only elevates the customer experience but also enhances transaction safety.

What Is A Standalone e-KYC Service?

A standalone e-KYC service is a ready-made digital identity verification system for businesses to seamlessly connect with their existing websites or applications. Businesses can use this service to perform e-KYC on AIGEN’s e-KYC Gateway. The verification result will then be sent to the business for further action, enabling a seamless user journey. Users can then use the application right away after finishing the e-KYC. A standalone e-KYC service allows the website or application to add the verification feature without having to manually develop a program. This enables automatic identity verification and therefore saves time, enhances transaction safety and creates a positive experience for customers with a quick, convenient, and safe service.

The standalone e-KYC service by AIGEN is a complete identity verification service that suits the needs of modern businesses that want to implement an online identity verification system conveniently, safely, and quickly. The interesting features of our standalone e-KYC are as follows:

  • It automatically retrieves data on the ID card and cross-checks with the database of the Department of Provincial Administration (DOPA)
  • It supports automatic identity verifications
  • Quick processing
  • It supports liveness detection
  • High accuracy
  • Businesses can use the system constantly (stand-alone solution)
  • A wide range of features provided
  • It’s connectable to the Dip Chip system

5 Reasons Businesses Should Use A Standalone e-KYC Service

1. Identity verification with automatic processing

With AI-OCR technology and highly accurate face verification, businesses can verify new customers’ identities quickly and save money on digital identity verification procedures as well.

2. Contactless identity verification

It reduces contact with objects and people, keeping customers and staff safe.

3. It upgrades digital customer onboarding

Biometrics, AI, and other innovative technologies make remote customer onboarding a lot simpler.

4. It mitigates frauds

Intelligent AI technology for face recognition can effectively prevent fraud such as forgery when making transactions.

5. It creates a positive business image

Offering a modern, convenient, quick, and safe online identity verification service to customers will create a positive impression. It shows that the business is using modern technology to upgrade its operations and provide customers with a positive experience.

Steps to Use Our Standalone e-KYC Service

Users can verify their identity online via the link AIGEN creates, either on the desktop site or using a mobile phone.

  1. Once you click the verification link, swipe the button to proceed to the next step.
  2. Users then click to accept the verification terms and conditions. When it comes to the data, businesses are able to adjust the text formats as needed.
  3. Users are shown the steps to verify their identity digitally. The steps can be adjusted according to the businesses’ needs.
  4. Users take a photo of the front of their ID cards in the frame the system shows.
  5. The aiScript OCR system retrieves the data from the users’ ID cards. Users can then check whether the data aligns with what is shown on their ID cards.
  6. Liveness detection proves an individual’s identity as the user moves their face. This step is optional, depending on the business type and whether it is required by law.
  7. The standalone e-KYC system verifies the data and produces a verification result via API to communicate with the business. The system also informs the user of the result. 
  8. Users can then use the website or application as they wish.
e-KYC services are integral for modern businesses

What Types of Businesses Can Use The Standalone e-KYC Service?

Our standalone e-KYC service can be adapted for any business requiring online identity verification. It has now become a service that customers expect businesses to offer. The level of verification required depends on each business’s transaction risks and legal requirements. Here are types of businesses that can use our standalone e-KYC service to improve online identity verification and transaction safety.

  • Finance and banking businesses with medium or low-risk transactions
  • Insurance businesses facilitating the purchase of products or making claims with medium/low risk
  • Online loan businesses with applicants for loans or transactions that are medium or low-risk
  • Platform businesses and applications that require identity verification for users to log in
  • Online businesses that require identity verification of students taking classes or online exams to prevent cheating
  • Online gold trading businesses that require proof of identity according to anti-money laundering regulations
  • Communications and telecommunications businesses
  • Government agencies
  • Businesses that sell products through distributors

Looking for a Standalone e-KYC System Service Provider?

Online identity verification is considered a fundamental service that customers expect businesses to offer so that they don’t have to travel to an office or branch to verify their identity. The service helps save time and money for both customers and the business. Moreover, it benefits the business’s image by providing a modern, convenient, and accurate service to help improve the customer experience. Finally, it allows customers to access the business’s services quicker, therefore generating income quicker for the business.

If your business is looking for a standalone e-KYC service to provide an identity verification process that can be done digitally, anywhere and at any time whilst improving the security of your transactions, we’re here to help. Our experts are pleased to give you advice from the planning stage and work process design up until the successful implementation of our standalone e-KYC service. Contact us today to talk with our experts.

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