ARGOS Identity (CEO Wonkyu Lee), an AI-based identity authentication platform company, announced on the 17th that it has signed a solution supply contract with Woowa Brothers and provided an identity authentication solution to strengthen the authentication process for services within the Baedal Minjok app.
This collaboration aims to enhance anti-money laundering (AML) and know-your-customer (KYC) systems across Baemin's services and establish a more accurate and efficient authentication process, even in a non-face-to-face environment.
With recent strengthening of financial regulations, platform-based financial services are increasingly required to comply with Know Your Customer (CDD) and Enhanced Customer Due Diligence (EDD) procedures. Accordingly, ARGOS' AI-based OCR and image analysis technology-based solution enhances the accuracy of ID card information recognition and speeds up authentication processing, establishing a reliable identity verification system even in non-face-to-face environments.
Woowa Brothers operates an AML process for financial services within the Baemin app, with CDD and EDD stages applied based on the user's transaction risk. ARGOS's solution aligns with this step-by-step authentication structure, enabling flexible risk-based authentication policies. This improves internal efficiency and minimizes the burden of manual verification.
Furthermore, the two companies plan to use this agreement as an opportunity to explore the potential expansion of next-generation authentication technologies, such as digital IDs and biometric authentication, and to enhance their authentication infrastructure to simultaneously enhance customer convenience and financial security.
ARGOS Identity CEO Wonkyu Lee said, “Authentication is a key element supporting trust and security in platform financial services,” and added, “Through collaboration with Woowa Brothers, we will build a more efficient and secure authentication system.”
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