Alchera has signed a supply agreement with Nonghyup Bank to provide mobile ID AI facial recognition technology and distributed biometric data storage.

Vision AI solution specialist Alchera (CEO Young-gyu Hwang) announced on the 14th that it has signed a supply contract with Nonghyup Bank for the construction of a biometric information distributed storage system and the development of a mobile ID service.

In this project, Alchera will provide a facial recognition distributed storage solution, a key technology for Nonghyup Bank's identity verification infrastructure. Biometric distributed storage technology minimizes the risk of data leaks and misuse by encrypting and managing customer facial recognition data in conjunction with the Korea Financial Telecommunications and Clearings Institute's Biometric Information Distributed Management Center, rather than centrally storing it on a central server.

Additionally, the mobile ID service stores a personalized digital ID on your smartphone, enabling identity verification without the need for a physical ID. The issuance process requires a mandatory identity verification process, and Alchera's AI-based facial recognition technology is applied throughout this process, enabling quick and secure ID issuance even in a non-face-to-face environment.

With the introduction of this system, Nonghyup Bank is expected to establish a top-level biometric information security system in Korea, simultaneously enhancing security and user convenience for non-face-to-face financial transactions.

Alchera, a facial recognition AI company, was the first in Korea to be housed in the Korea Financial Telecommunications and Clearings Institute's Bio-Distribution Center and has provided bio-information decentralized management solutions to Woori Bank and Shinhan Life. Furthermore, in April, Alchera passed the Korea Telecommunications Technology Association (TTA)'s Mobile ID Private Open Facial Recognition Conformity Assessment and is now providing its facial recognition technology to companies like Naver and Toss.

“As a leading AI company that provides integrated authentication technology, information management, and security solutions to support safe and reliable identity verification procedures, we will fulfill our role,” said Hwang Young-gyu, CEO of Alchera. “Through continuous AI technology innovation and service advancement, we will establish a domestic eKYC identity verification standard.”

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