Fintech company ATFX has announced that it has launched a brand new face recognition technology for trading account opening. The latest addition has been made in order to ensure the security and safety services to the clients. Face recognition technology will now verify customer identities when opening trading accounts online.
The Far East is the first implementation region of this new technology. The company will soon after apply the advanced version to the global market.
Clients will now be able to open the account and conduct transactions anywhere, anytime within 60 secs and without having to visit an office and creating new security standards during the digital era. The clients only need to fill in the necessary information and import the ID picture. Afterwards, the Optical Character Recognition (OCR) system can read and identify the information of ID card and the geometry of clients‘ faces automatically, which significantly reduces the time or errors compared with the traditional way. Also, it can reach a confidence level of 98%.
To achieve the necessary level of compliance and fight off increasing identity fraud, ATFX has joined forces with Electronic IDentification, providing a single solution for all things compliance and user onboarding.
Representative of ATFX, said:
ATFX attaches importance to the security of customer data, so we have used various technologies to prevent risks steadily. This technology will help enhance the security standards and precision in client’s identity verification at offices, thus reducing identity theft in account opening.
Representative of Electronic IDentification commented:
Electronic IDentification is thrilled to provide its Video IDentification technology to ATFX to drastically reduce fraud and improve customer onboarding while compliant with the highest regulations worldwide.
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