AU10TIX is providing biometric onboarding services for Israel’s ONE ZERO Digital Bank. ONE ZERO recently received regulatory clearance from the central Bank of Israel, and has already used AU10TIX’s technology to onboard its first 75,000 customers as part of a pilot program.
According to ONE ZERO, its partnership with AU10TIX will mitigate the threat of synthetic identity fraud, and ensure compliance with the latest Know Your Customer (KYC) regulations. AU10TIX’s platform uses facial recognition to match a selfie of the user to the image on a photo ID, and is able to spot signs of manipulation that may not be evident to the human eye.
Once the remote onboarding process is complete, ONE ZERO customers will be able to use facial biometrics for authentication whenever they want to reset a password or make some other change to an account. The technology could also be used to authorize certain banking activities that have more inherent risk. ONE ZERO noted that the demand for remote identity solutions increased as hybrid work became more common during the pandemic.
“The relationship between bank and customer is based on trust and security,” said ONE ZERO CTO Amichai Levy. “Thanks to AU10TIX, ONE ZERO Digital Bank can ensure our customers a secure means of identity verification with zero human intervention.”
“The combination of automated, forensic detection and global coverage enable our customers to continue scalable growth [and] improve their KYC capabilities with industry-leading fraud detection while saving on costs,” added AU10TIX Founder and Acting Chairman Ron Atzmon.
ONE ZERO Digital Bank joins an AU10TIX client roster that already includes tech giants like Google, Uber, and PayPal, and major banks like Nordea and Santander. AU10TIX has also enabled selfie onboarding for CIBC FirstCaribbean and the Mexican challenger bank Fondeadora, in addition to Genesis Global’s extensive portfolio of online gaming platforms.