Going forward, the two companies aim to conduct verification testing in Japan throughout 2018 targeted at financial institutions such as banks and credit card companies, amongst others, through joint research and development of highly secure and reliable biometric digital identity solutions based on IDEMIA’s digital id
Going forward, the two companies aim to conduct verification testing in Japan throughout 2018 targeted at financial institutions such as banks and credit card companies, amongst others, through joint research and development of highly secure and reliable biometric digital identity solutions based on IDEMIA's digital identity and payment platform.
Biometric digital identity solutions for financial institutions are solutions that support the utilization of digital identity technologies, including biometric authentication, identity verification, and digital signatures. The incorporation of advanced digital identity technologies will enable the development of secure and convenient services for end users.
TIS has developed the brand-name of “PAYCIERGE”, based on its rich experience with development of critical systems for credit card companies and cutting-edge technologies. It has developed a broad range of services, from business systems that perform debit and prepaid card processing to mobile solutions in close proximity to the consumer for enhancing user convenience.
IDEMIA is the global leader in the fields of biometrics (fingerprint, facial and iris authentication), digital identity, and payment solutions. It has dozens of years of expertise worldwide, across the entire value chain in the field of Augmented Identity and provides numerous public and private markets with the most exhaustive digital trust suite (identity-verification technologies, risk-based authentication, Omni-channel online contracts, digital payments, etc.).
TIS and IDEMIA are now aiming to blend the two companies' technologies to offer highly reliable and convenient mobile-based biometric digital identity solutions for financial institutions such as banks and credit card companies.
The following outline some of its uses:
- Enabling the opening of a bank account within just a few minutes from a remote location while maintaining regulatory (KYC*, AML*, etc.) compliance.
- Using facial authentication for secure access and performing highly-sensitive transactions (funds transfers and online payments).
- Enabling enrolment anytime, anywhere, and on any device in any type of financial product (loans, savings, life insurance, etc.) in a legally-compliant form.
TIS has been developing the new concept “PAYCIERGE 2.0” since 2016, which is adapted to the needs of the ever-evolving payments business market and offering the new solutions to this market. The linkage of the biometric authentication technology and services of IDEMIA with the financial industry experience and technologies acquired by TIS will increase the value of services in the consumer domain and create a variety of payment services with high levels of security and usability.
*KYC: Know Your Customer
*AML: Anti-Money Laundering