Facial recognition tool launched for online AML checks
Wellington-based RealAML is launching the first locally-built facial recognition tool for New Zealand businesses to identify their clients.
Thursday, July 16th 2020, 10:08PM
Jordan McCown
Chief executive Jordan McCown said there was increasing demand for online verification services – there had been a 311% increase in remote identity checks conducted between May and June.
“We believe this trend will become the status quo as remote identification means doing business faster.”
Before FaceMatch, NZ businesses captured by the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) only had the option of overseas built and more expensive biometric technology, he said.
The entire FaceMatch identity process could be completed online, in less than 60 seconds.
“Through our web-based platform, a business sends an SMS to their client. After clicking a link on their smartphone and granting consent, the client selects an ID document and takes a photo of their ID. FaceMatch can then extract their identity data and run an electronic identity verification check through our QuickID.
“Once the client is successfully identified they are prompted to take two liveliness photos. FaceMatch then analyses these photos against the photo from their ID document. The results are instantly sent to the requesting business.”
FaceMatch analyses the attributes of a face through landmarks such as the position of the eyes, pupils, nose, mouth and jaw.
Location anchors are then created from the face in the ID document for comparison to the face in the liveliness photos taken by the client. If FaceMatch is successful, a confidence value between 80% and 100% is given. Additional checks are run on the ID document to ensure it’s valid, isn’t expired or a sample, and in some cases the extracted data from the ID document is cross-referenced to the QuickID check.
| « AMP goes carbon neutral | Pathfinder extends access to Ethical Trans-Tasman Fund » |
Special Offers
Comments from our readers
No comments yet
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
