The rise in technology that has occurred over the past decade has changed how we conduct business. It has also presented new challenges for how we protect our sensitive information online. One of the areas where the marketplace is most prime for fintech is Africa. Countries in Africa are rapidly emerging as a modern fintech marketplace. However, companies must ensure that they do not grow too quickly and that they make efforts to protect their financial information while meeting regulations set forth by local governments.
Around the world, countries have been stepping up their anti-money laundering efforts in an attempt to keep citizens and businesses safe. One country who has recently stepped up its anti-money laundering efforts is Chile, who recently launched new KYC regulations set to take place by September 2019.
As the popularity of cryptocurrencies has risen across the world, many governments have taken measures to safeguard their citizens. One such example can be seen in Mexico, where the government recently instituted new KYC regulations that are set to go into place beginning in September 2019. However, many critics disagree with the laws and are pushing hard for Mexican lawmakers to reconsider.
Over the past couple of years, as KYC regulatory compliance has become more and more necessary, one of the programs that has gained popularity is liveness detection. Liveness detection is a complicated procedure that involves analyzing multiple features of an individual’s face. It also relies on live commands, having a back-end user perform a sequence of tasks to ensure that they are indeed who they claim.
At AU10Tix, we continually seek to provide our customers with the most advanced technology available. Not only can our technology help ensure that companies remain compliant with local regulations, but it also helps to protect financial institutions from those looking to use their services for money laundering or other illicit activity. One of the technologies that we are most proud of is our liveness detection. We offer our customers randomized, strong liveness detection for both online and mobile face matching. Implementing this technology during the onboarding process provides our customers with another opportunity to help protect their sensitive financial information. Below, we’ll offer a brief breakdown of what liveness detection is and why ours stands out.