ONE ZERO Digital Bank has announced that it has chosen AU10TIX to power its customer verification system and KYC (Know Your Customer) platform. The Bank of Israel, Israel’s central bank, has given ONE ZERO Digital Bank its approval to use AU10TIX technology.
AU10TIX’s technology enables ONE ZERO Digital Bank to perform identity verification for new customers as part of the onboarding process as well as every activity that requires re-verification, such as making changes to a bank account, resetting a password and any banking activity requiring an identity. verification.
The AU10TIX solution verifies the identity of a new customer by performing a biometric comparison of an identification submitted to a selfie.
In addition to verifying and re-verifying credentials, AU10TIX technology is able to identify emerging advanced identity fraud, known as synthetic fraud, which is almost impossible to detect by the human eye. AU10TIX’s identity intelligence platform has been successfully implemented with many of the world’s largest companies, including PayPal, Google, Uber, Bird, Payoneer, eToro, and Fiverr. Additionally, Nordea, Santander, Saxo Bank and many other major banks are already working with AU10TIX technology.
Intelligence and identity verification solutions are increasingly in demand due to the COVID-19 pandemic, which has accelerated the shift to remote work and business around the world. As the financial industry and payments transitioned to the digital world, the need to detect and overcome identity fraud has become a top priority for many businesses.
ONE ZERO Digital Bank is owned by Professor Amnon Shashua, founder and CEO of Mobileye. Throughout his career, Professor Shashua has played a key role in breakthroughs in artificial intelligence and is currently working to introduce self-driving vehicles to Israel.
ONE ZERO Digital Bank has successfully completed a pilot program and is onboarding its first 75,000 new customers, who were on a waiting list. ONE ZERO Digital Bank received regulatory approval from the Bank of Israel and began onboarding these new customers with over 250 employees. The company relies on artificial intelligence that allows bank employees to offer additional money management services via online chat and phone.
Amichai Levy, CTO of ONE ZERO Digital Bank, says: “The relationship between the bank and the customer is based on trust and security. ONE ZERO is subject to the same regulations as any bank in Israel, and we invest huge resources in cybersecurity and privacy. Thanks to AU10TIX, ONE ZERO Digital Bank can guarantee its customers a secure means of identity verification without any human intervention.
Ron Atzmon, Founder and Acting President of AU10TIX, adds, “The combination of 100% automated forensic detection and global coverage enables our clients to pursue scalable growth, enhance their KYC capabilities ( know your customer) with industry-leading fraud detection capabilities while saving on costs.