The digital identity specialist Beyon Connect is entering the Bahraini market after signing a Memorandum of Understanding with Bahrain Commercial Facilities Company (BCFC). Beyon Connect will be outfitting BCFC with its OneID biometric onboarding solution, and with its OneBox service to facilitate the secure exchange of important documents.
BCFC itself is a financial institution that provides loans for clients. It also offers a range of insurance and real estate products through a number of subsidiaries. The company is the first in Bahrain to partner with Beyon Connect, which is a Batelco subsidiary that debuted in January.
The OneID service is available through a mobile app on Android and iOS devices. It is compatible with passports and national ID cards, and uses facial recognition (backed up with liveness detection) to verify the identities of new users during the onboarding process. After that, the digital identity can be used for authentication to make sure that any future interactions remain secure.
OneBox, on the other hand, is a digital post box that allows two parties to send and store digital documents in a secure environment. BCFC is hoping that the service will allow people to do more business online, and minimize the number of trips that people need to make to a physical BCFC branch.
“We see the adoption of OneID and OneBox as a key enabler in BCFC’s digital finance and insurance vision, providing our customers with the assurance that we are early adopters of the Central Bank of Bahrain’s ongoing initiatives in driving safe and compliant financial digital transformation within the Kingdom,” said BCFC CEO Abdulla Bukhowa.
While BCFC is Beyon Connect’s first Bahraini client, it is not the first financial institution to implement biometric onboarding in the country. Jumio enabled face-based onboarding for Bank ABC back in 2019, and then did the same for Al Baraka Islamic Bank in 2021.
Source: News of Bahrain