Identifying the Individual: Beyond Verifying Access
Airome Technologies, a Singapore-based developer of cybersecurity solutions for digital banking and e-document management systems, has announced the launch of its eKYC PayConfirm solution. This innovative technology aims to simplify the digital identification and authentication process, particularly in response to the challenges posed by the pandemic.
In the eKYC (Know Your Customer) process, users will be requested to provide a selfie during the verification stage. This selfie will be compared with the details on their identification document to ensure authenticity. The identification document will undergo verification by external sources such as governmental databases, black-lists, and police databases.
To handle critical data securely, Airome Technologies employs strong cryptographic authentication with key distribution schemes. This ensures the protection of sensitive user information throughout the process.
The eKYC process will be performed entirely on the user's mobile device, making it convenient and accessible. The identification document fields will be recognised as part of the process, further streamlining the user experience.
Airome Technologies' solutions primarily focus on authentication and transaction confirmation technologies. However, during the pandemic, it became evident that their offerings only covered the authentication step, not the identification step. In response, they have developed the eKYC PayConfirm solution to address this gap.
The resulting solution aims to cover the sensitive and complicated steps of remote user interaction: identification and authentication. It is designed to complete the user's record in the application and device for future authentication and transactions confirmation in about 20 seconds.
The PayConfirm platform ensures that the user has passed all security checks and their data is correct. It also incorporates liveness detection to verify if a live user is in front of the mobile device. This adds an extra layer of security to the process.
Airome's banking customers, including Commerzbank (the first client bank to use the eKYC solution), needed to identify users with personalized devices during the pandemic. The combination of eKYC and personalization process is being attempted by Airome Technologies for authentication purposes.
However, it's important to note that combining eKYC and multi-factor authentication in applications may lead to increased workload for developers and higher costs. Nonetheless, Airome Technologies is committed to providing secure, efficient, and user-friendly solutions for digital banking and e-document management systems.
The onboarding process for eKYC must be as simple as possible, ensuring a smooth experience for both the bank and the user. The three mechanisms used for working with a user are Identification, Authentication, and Authorisation, which work in a specific order: Identification, Authentication, Authorisation.
The pandemic served as a catalyst for moving identification from offline to online for Airome's customers. The company's eKYC PayConfirm solution is a significant step towards a more secure and streamlined digital identification and authentication process.
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