The use of digital technology for Know Your Customer (KYC) requirements was in focus on Thursday at an event organised by Digital Jersey which attracted over a hundred people from the finance, compliance and technology sectors.
Panel member Ken Burrows, of Australian company VixVerify, said that initially the company had developed technology for voice biometrics – the ability to match a voice to its original print – and then moved into creating products to satisfy anti-money laundering legislation requirements.
The product they are now marketing globally, greenID, includes both voice-matching and face-matching technology that can be used on a mobile platform – for example, a new account applicant may be required to provide a ‘selfie’ real-time photo compared with an image from their ID document scanned by the mobile device.
