Regula and Sybrin have partnered to create an onboarding workflow tailored to the needs of financial service businesses across the US. Regula is a developer of forensic devices and identity verification solutions and Sybrin is a provider of enterprise software solutions. While this partnership is tailored to financial services, both parties are open-minded about potentially moving into other sectors such as insurance, government, and retail.
The joint solution enables banks and other financial institutions to securely onboard and verify customers. This is achieved via combining Regula Document Reader SDK and Regula Face SDK with Sybrin’s KYC onboarding solution and orchestration engine. As a result, financial service businesses can establish an identity verification workflow that includes advanced document checks, selfie capture, and liveness verification.
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Balance between reliability and user experience
By integrating Regula Document Reader SDK, the joint solution helps institutions to verify identity documents in a secure way, with the ability to re-verify data on a server in a company’s secured perimeter. As a result of this, organisations hope to reduce the risk of falling victim to fraudsters. Regula’s solution is backed up by a proprietary document template database which is one of the largest on the market, containing over 13,000 document templates from 247 countries and territories.
An additional layer of security in the onboarding process is provided by biometric checks and liveness verification, which is handled by Regula Face SDK. These checks eliminate fraud attempts by detecting static pictures, video injections, masks or filters on applicants’ faces, and video replays.
Ihar Kliashchou, Chief Technology Officer at Regula, said: “You can never overdo it with authenticity checks, especially in remote onboarding scenarios in financial institutions. The more robust technology you have, the better. The point is to find the perfect balance between reliability and user experience. We at Regula keep working on this non-stop. We are happy to partner with Sybrin, a visionary KYC provider that shares our commitment.”
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