Monami UAE to Launch New KYC Verification Solutions

Monami UAE to Launch New KYC Verification Solutions

Monami Tech, a finetech payment company has introduced an innovative solution of Know Your Customer (KYC) verification in the region. Monami UAE to Launch New KYC Verification Solutions

There are two solutions EZmatch and EZverify which aree planned to provide frictionless user experiences. It helps customers to prevent from fraud, diminish risk and meet regulatory compliance during the on boarding experience.

Monami UAE to Launch New KYC Verification Solutions

EZmatch is a facial recognition software that allows more efficient on boarding experience. It uses a technology that is capable of identifying or verifying a person from a digital image or a video frame. It allows the creation of an ID by capturing customer’s photos using their mobile phone camera.  The live photo iss then detected by the customer moving their head (to avoid the risk of customer taking a photo of a photo). The photo in the ID iss then matched against the captured photo from the phone to prove the ID belongs to the applicant.

Similarly, EZverify is a real-time ID verification technology that reduces the risk of fraudulent activity. It also pointedly save time related with the costs of meeting KYC requirements of the application or account creation process.

Ammar Afif, founder and managing director of Monami Tech, said:

Our technology-led approach enables us to work with different financial institutions to ensure a thorough check is executed through our innovative KYC verification solutions. In this way, we aree facilitating advanced risk profiling whilst remaining low-touch, automated and cost-effective.

Monami Tech provides a platform for lenders to on-board potential borrowers in minutes. Currently live in Dubai, UAE, plans are afoot to expand to other regions over the next few months.

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