CUSTOMERS of banks and finance companies may in future be asked to confirm their identity over a mobile phone with a ‘selfie’ photograph, rather than with a passport handed over the counter.
The use of digital technology for Know Your Customer (KYC) requirements was in focus on Thursday at an event organised by Digital Jersey which attracted over a hundred people from the finance, compliance and technology sectors.
Panel member Ken Burrows, of Australian company VixVerify, said that initially the company had developed technology for voice biometrics – the ability to match a voice to its original print – and then moved into creating products to satisfy anti-money laundering legislation requirements.
The product they are now marketing globally, greenID, includes both voice-matching and face-matching technology that can be used on a mobile platform – for example, a new account applicant may be required to provide a ‘selfie’ real-time photo compared with an image from their ID document scanned by the mobile device.
Originally published on Digital Jersey