Argos Identity (CEO Wonkyu Lee), an AI-based identity authentication platform company, announced on the 21st that it provided its non-face-to-face customer verification (eKYC) service 'ID check' to SentBe, a global foreign exchange remittance service company.
The introduction of this service is a measure to address the changing demand for financial services resulting from the increasing number of foreign residents in Korea. As of 2024, the number of foreign residents in Korea is expected to reach approximately 2.65 million, a 5.7% increase from the previous year. Consequently, financial institutions are increasingly seeking a precise and flexible authentication system that can accommodate a variety of nationalities and identification types.
Sentbe has implemented Argos' ID Check for its domestic remittance service, enabling customers to verify their identity using various forms of identification, including resident registration cards, driver's licenses, alien registration cards, and passports. This service utilizes artificial intelligence (AI) to facilitate fast and accurate identity verification in a non-face-to-face environment, and features detection capabilities for forged or altered IDs and facial images.
ID Check automatically recognizes different ID formats across countries, making it ideal for remittance services used by a multinational customer base. For international customers in particular, it supports passport and alien registration card-based identity verification, enhancing ease of use and security.
Argos' eKYC solution has continuously improved the accuracy of OCR-based information extraction and forged document identification technology. This complements the limitations of existing government data-based authentication methods and contributes to proactively preventing potential financial crimes such as fraudulent account creation, identity theft, and money laundering.
Sentbe offers services to a diverse customer base, including domestic and foreign workers, who require international remittances, based on a simple user experience, competitive fees, and fast remittance speeds.
“This agreement will serve as an opportunity for both companies to strengthen user trust and operational efficiency,” said Wonkyu Lee, CEO of Argos Identity. “We will continue to contribute to the digital transformation and security enhancement of various companies through authentication solutions optimized for the needs of each industry.”
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