A new UK bank called Monzo Bank (Formerly Mondo Bank) has signed a 2-year contract with AU10TIX to power customer acquisition and fraud protection ID document authentication.The solution includes selfie-to-ID picture comparison services to hasten the onboarding experience.AU10TIX BOS' ID authentication and onboarding tool are used by financial services providers for forgery and counterfeiting detection.”Monzo is trying to making banking work for customers. Opening a new bank account has historically been a pretty painful experience – sending proof of identity through the post should be a thing of the past”, says Tom Blomfield, CEO of Monzo Bank. “Technologies such as AU10TIX BOS enable us to offer our customers exactly what they want; a more streamlined account-opening experience in a much safer environment. As a bank, we can now open accounts for customers more quickly, whilst complying with KYC and money-laundering regulations.””We are proud to have Monzo Bank join our growing family of clients”, says Ron Atzmon, Managing Director of AU10TIX: “It is now evident that 2nd generation technology is challenging old practices and pre-conceptions. AU10TIX BOS is already powering some of the biggest players across a wide range of financial services, for a reason. It is the latest technology that can handle the type of traffic you can expect in online and mobile channels, and provide the complementary biometric security measure of matching selfies to document pictures, in seconds”.”85% of fraud attempts involve the use of stolen, genuine personal data. If you do not check the image from which the data is obtained then you're obviously inviting trouble”, says Ofer Friedman, VP Marketing of AU10TIX.

Also in the news:

Default ThumbnailCognitec update improves Nero’s MediaHome’s face recognition Default ThumbnailEyeLock enters license agreement with Qualcomm Mobile Security Default ThumbnailGemalto to provide eID cards for Uruguayan programme