SUMMERLIN, Nev., Aug. 6, 2020 /PRNewswire-PRWeb/ -- To meet the increasing demands for strong digital ID management, Singapore-based Cynopsis Solutions has partnered with FaceTec to provide the most secure, safest, and easiest-to-use ID verification with class-leading 3D Liveness and Matching. Cynopsis Solutions, the award-winning Regulatory Technology (RegTech) solutions provider in the increasingly important Southeast Asia region (the third most populous geographical region in the world) is simplifying compliance and achieving regulatory advantage for more than 1,600 clients in banking, financial services, professional services and gaming sectors globally.
As millions more people work from home and business is conducted remotely, to prevent ID theft and fraud it is more important than ever to ensure only the legitimate account holder is allowed access to their sensitive data.
"Digital Authentication is now the primary way we ensure users are who they purport to be, so it is essential to verify that the person creating or accessing an account is not just providing the user's stolen information, but that the real user is physically present during the interaction, and is doing so from any device," said Kevin Alan Tussy, CEO of FaceTec. "Our AI verifies that the user is legitimate, and can prevent unauthorized account access that leads to account takeover, ID theft and fraud, money laundering, and many other cyber attacks. Our unrivaled biometric security layers add confidence to Cynopsis' already highly effective ARES onboarding solution, and provide their customers with a significant competitive advantage."
Cynopsis Solutions' Digital User Onboarding platform, ARES, effortlessly integrates into clients' frameworks and provides them with a comprehensive and efficient digital non-face-to-face (e-KYC) user onboarding experience. ARES leverages the advanced Artificial Intelligence in FaceTec's biometric technologies allowing users to conduct fast, real-time digital verification with exceptional accuracy by assessing dozens of human attributes, such as micro-movements, reflections and textures, and all within two seconds using standard mobile and webcam-enabled devices. FaceTec 3D Face Authentication currently authenticates tens-of-millions of users every month in finance, government, telecom, healthcare, cryptocurrency, connected transportation, and more.
"Digital onboarding is an important starting point of the full KYC and AML cycle. To ensure that we offer a highly secure, comprehensive world-class solution to our clients globally, partnering with FaceTec provides the perfect environment for our clients to pursue new and legitimate opportunities in a quick and frictionless experience, and yet are able to achieve regulatory advantage by staying on the right side of regulations", said Chionh Chye Kit, CEO & Co-Founder of Cynopsis Solutions.
Cynopsis Solutions, one of Asia's fastest-growing and most recognized FinTech companies, has developed a highly effective onboarding and ongoing-authentication solution that is easy and fast to use, extremely effective, and highly configurable. To ensure an extreme level of confidence in verifying a user's legitimacy, the process must begin by anchoring the user's identification at the very beginning of the trust chain with the world's best Liveness Detection and Matching.
-------------------------------------------------------
About FaceTec 3D Face Authentication
FaceTec's 3D Face Authentication is fast becoming the global standard in onboarding, KYC, and ongoing authentication, and stops ID fraud and unauthorized access for millions of users on six continents for many of the world's leading organizations in IAM-IDV, financial services, mobile payments, border security, connected transportation, blockchain-crypto currency, e-voting, and more.
FaceTec's 3D Face Authentication Platform features:
- 100% software, for all modern smartphones, tablets, and PCs with webcams
- World-leading 3D Face Matching rate at 1-in-4.2 million FAR @ less than 1% FRR
- Patented UI generates data-rich 3D FaceMaps™ from standard 2D cameras
- $100,000 Spoof Bounty Program, and Levels 1&2 NIST-certified Liveness Detection
- Unshareable, unphishable 3D FaceMaps ensure trust without creating a honeypot
- IDV dashboard with integrated 1:N de-duplication & fraudulent user lists
- Highly accurate 1/500,000 FAR 3D-FaceMap-to-2D-photo-ID matching
- Integrated anonymous age estimation and age checks
- Fast, intuitive interface with 98-99% first-time-user success rates
- Easiest solution to integrate, customize, deploy and manage
Interested parties can access the FaceTec demo apps directly from FaceTec.com for iOS, Android and any webcam-enabled browser, and the developer SDKs are available free at https://dev.facetec.com.
-------------------------------
About Cynopsis Solutions
Founded in 2014 and headquartered in Singapore, Cynopsis Solutions offers RegTech solutions
designed to digitise and automate Compliance and regulatory processes, in particular know-
your-customer, anti-money laundering, and counter-terrorism financing. Cynopsis Solutions'
accolades include MAS FinTech Awards (2018), RegTech100 (2018, 2019) and Financial Times
Top 50 High Growth Companies in Asia-Pacific.
Our end-to-end KYC/AML solutions are designed according to the global FATF
recommendations, applicable to more than 180 jurisdictions and is already helping more than a
thousand B2B customers in the Banking, Financial Services, FinTech and Cryptocurrency,
Professional Services and Gaming sectors globally.
-------------------------------
About FaceTec
Founded in 2013 with offices in San Diego, CA and Summerlin, NV., FaceTec is leading a global intelligent software revolution in biometrics, this decade's most important secure digital identity technology. FaceTec's patented, industry-leading 3D Face Authentication software anchors digital identities, establishing the chain of trust for mobile and web applications with the world's best Certified Liveness Detection, image matching, document verification, and age estimation.
For more information and business inquiries, please visit http://www.FaceTec.com. For media inquiries, please contact John Wojewidka at [email protected].
-------------------------------
About Liveness.com
Created as an educational resource for biometrics users, vendors, analysts, media and regulators, http://www.Liveness.com provides a comprehensive history of Presentation Attack Detection, as well as explanations of methods and means for evaluation, certification, and testing.
SOURCE FaceTec, Inc.
Share this article