ARGOS Identity (CEO Wonkyu Lee), an AI-based global identity authentication platform company, announced that it will provide its eKYC solution 'ID check' to Cross ENF, which operates an overseas remittance service.
This collaboration was driven by the growing need for reliable authentication of customers of diverse nationalities, a characteristic of international remittance services. The two companies aim to implement a fast and accurate authentication system in a global user environment, simultaneously enhancing customer convenience and service operational stability.
International remittance services are structured so that users from multiple countries access them. This means diverse identification types and submission requirements, as well as different authentication standards and regulatory environments across countries. Consequently, bottlenecks in the authentication process can lead to a degraded customer experience, while for businesses, this can increase the burden of manual review and operational risks. In particular, a systematic KYC environment is required to proactively prevent authentication risks such as submission of forged or altered documents, fraudulent registrations, and duplicate account creation.
Cross ENF is a fintech company that started out as an international remittance service provider. It is currently expanding its business to encompass commerce, finance, and lifestyle services. It analyzes customer data from diverse countries and incorporates it into its services, strengthening its user experience and trust-based service system.
ARGOS' ID check, with its authentication capabilities capable of identifying IDs from over 200 countries worldwide, supports identity verification for a variety of identification documents, including passports, driver's licenses, and residence permits. With this solution, Cross ENF plans to establish a consistent authentication process across its global customer base and proactively manage risks that may arise during the authentication process.
The two companies' strategy is to streamline the sign-up and approval process to improve the authentication experience, while also enhancing service reliability through a security system based on forgery and tampering detection. Going forward, they plan to reduce waiting times throughout the entire process, from sign-up to remittance, and strengthen customer-friendly financial service operations, laying the foundation for global expansion.
Lee Won-gyu, CEO of ARGOS Identity, said, “For overseas remittance services, it is important to create an environment where customers of various nationalities can quickly complete authentication and use the service reliably,” adding, “Through this collaboration, we will support an identity authentication system optimized for the global service environment.”
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