Around a Billion Chinese national resident identity card holders (China’s official ID facility) are now accessible to online and mobile financial, legal and other KYC regulated services with simple snapshotting of their ID.
Nicosia, Cyprus (PRWEB) November 12, 2014
The lucrative Chinese market is now easier, faster to cater in compliance with international KYC regulations. In accordance with global standards, Chinese citizen can now take pictures of their national ID using common devices such as smartphone cameras or office scanners and submit them via their computer or smartphone for seconds-fast anti-fraud checking and record generation. Around a Billion Chinese national resident identity card holders (China’s official ID facility) are now accessible to online and mobile financial, legal and other KYC regulated services with simple snapshotting of their ID. Unlike conventional technologies, AU10TIX BOS’s machine learning enhanced platform works faster, can detect image forgeries and not just data inconsistencies, can handle borderline image qualities better, and provides specific flagging on any issues to enable immediate response.
“China has just become more accessible for KYC regulated services such as payments, money transfer, financial services, legal services, social media and many other verticals”, says Ron Atzmon, Managing Director of AU10TIX: “The Chinese Passport we cover very well is now joined by the Chinese official ID card. Unlike the Passport, China’s ID is all Chinese language thus posing a major problem for service providers. Now, the language barrier is much lower and automation can replace and augment manual processing at a whole new level and unmatched speed. “Huānyíng” to the Chinese market!”
“Just to make sure we’re on the same page, AU10TIX BOS is not just “OCR-ing” Chinese IDs. It is recognizing the data elements and tagging them for immediate use”, says Ofer Friedman, VP Marketing of AU10TIX: “But the implications, especially for international service providers are enormous not just from the usability point of view. Simply calculate how many back office people you’d need to have in order to handle this giant market effectively. It is literally a big number game. The sheer cost saving and cost-saving are very significant to anyone who wants to address this mega market effectively.“
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 specializes in implementing hardware & software based applications used for scanning, identifying, content retrieval, authentication and validation of identifying documents. AU10TIX is a pioneer of all-channel (front-end and online) ID authentication and processing solutions. The company's products drastically reduce identifying document-based fraud, reducing the costs associated with client processing and enabling effective regulatory compliance, while making the sales and support operations speedier and considerably more efficient.
For more information, visit http://www.au10tix.com
About ICTS International N.V.
ICTS specializes 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 customized 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, VP Marketing
Tel.: +357 (22) 007698
ICTS International NV
Tel.: +31-20-716 3421