Electronic Know Your Customer (EKYC) & Near Field Communication (NFC) for China ID and Geo-Location Qorus-Infosys Finacle Banking Innovation Awards 2024

livi's eKYC system is an innovative online identity verification solution that combines AI and NFC technologies to provide a more efficient and secure user identity verification service. Our system can automatically collect and verify user’s personal information, including facial features and documents, and ensure the authenticity of the account opening information through anti-counterfeiting detection, Origin Recognition Complex (OCR) recognition, liveness checking with biotechnologies, and identity verification with golden data sources. In addition, our system fully leverages technology and multi-factor risk management framework to check and ensure the customer is located in Hong Kong during KYC process, which is the foundamental regulatory requirement of remote account opening for mainland Chinese visitors. With the technology enabled geo-location solution, we significantly reduce the frictions of the account opening, improve customer experience, and also avoid high-risk customers and meet the compliance requirements.