AU10TIX BOS (Back Office Service) helps automate the authentication of online-submitted customer ID images, and their conversion to workable digital records.
Nicosia, Cyprus (PRWEB) June 26, 2013
Banks integrating telephony authentication technologies can reap big benefits in customer experience, so said a TrustID post of 12 June 2013 in response to the recent Bank Systems & Technology article (http://www.banktech.com/channels/security-efficiency-service-telecommunic/240156189). True, but online banking is not simply the extension of brick-and-mortar banking by other means. Especially so when it comes to customer screening and onboarding.
KYC regulations mandate the usage of government-issued ID documents to authenticate applicant identity and create authoritative (query-able) customer records. Problem is that online service means customer not present and document not present. All banks get to look at is a photocopy or snapshot file of an applicant’s ID, that has been produced by customers using common devices such as smartphone cameras or office scanners, at every conceivable level of usability and quality. That is why till recently, industry narrative has focused on the use of telephony for the servicing of existing customers. Not the opening of new accounts and enabling of ID document dependent account actions.
A solution to this critical gap has been introduced by AU10TIX, a pioneer of multi-channel (front-end and online) ID authentication and record generation – the prerequisites of Secure Customer Onboarding. AU10TIX BOS (Back Office Service) helps automate the authentication of online-submitted customer ID images, and their conversion to workable digital records. That system that already works in various regulated markets including payment services and gaming, has can deliver not only better fraud protection but also improve operating efficiency and customer acquisition success chances.
‟Banks and financial services are forced to maintain an often massive back-office service operation for the handling of huge volumes of applications, streaming in 24/7“, says Ron Atzmon, AU10TIX’s managing director: “Not only is it a huge financial and operational burden, but it is also slow and of inconsistent reliability. Bottle necks, in the online space, translates to applicant resentment and churning. So beyond improving security, BOS is also about improving customer acquisition chances“.
Says Ofer friedman, AU10TIX Director of Marketing: "Automating customer authentication and record generation goes even beyond KYC, fighting fraud and improving operating efficiency. It is also about the quality information that financial institutions feed into their risk management systems and databases.ust ask yourself how many records include missing, mistyped or duplicate data. The quality of data used is as good as the quality of data entered."
AU10TIX Limited, a fully owned subsidiary of ICTS International N.V, deals with the authentication and digitization of identifying documents, including: Passports, identity cards, driving licenses and other complementary identifying documents. The company specialises in implementing hardware & software based applications used for scanning, identifying and acquiring identity documents, authenticating them and their owners, in real-time. The company's products drastically reduce identity and document based fraud in organisations, reducing the costs associated with processing clients, improving compliance competence and effectiveness with related regulations, while making the sales and support operations more efficient. For more information, visit http://www.au10tix.com.
About ICTS International N.V.
ICTS specialises in the development and implementation of innovative security concepts and solutions designed to meet the needs of a variety of industries, mainly aviation transportation, border control and sensitive facilities. ICTS International benefits from over two decades of expertise and international operational experience in transportation security, with a particular emphasis on high-risk environments, passenger processing transactions and the integration of security services to provide a comprehensive security solution. It also offers a wide variety of customised training programs, tailored procedures and a wide range of security consulting services. The company has developed and implemented unique technological solutions, based on its comprehensive approach to security, designed to enhance the level of security while accelerating the security check process. For more information, visit http://www.icts-int.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company’s business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company’s actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company’s expectations or future events.
Ofer Friedman, Director of Marketing
Tel.: +972-50-4 71 71 50
ICTS International NV
Alon Raich + 00-972-974-47770