With the popularity of mobile phones, telecom fraud has become rampant and costs government enormous manpower and material resources on it every year, thus increasing the government's financial burden. In order to reduce telecom fraud, governments around the world have introduced regulations requiring citizens' SIM cards to be authenticated with their real names to reduce crime and government's financial expenses.
Many governments have taken the SIM card registration laws into their consideration to prove identity and collect user data, including ID verification, facial verification, document verification (e.g. utility bills as proof of address), and biometric verification. The heavy fines shall be imposed for failure compliance. Furthermore, e-KYC also refers to the authentication of a citizen's identity by capturing information from an ID card (OCR mode), extracting digital data from a government-issued smart ID card (with a chip), or using certified digital identity and facial recognition for online identity verification.
With years of experience in the security industry, FEITIAN provides authentication terminals to meet the market demand by combining Android systems.
The introduction of real-name authentication reduces telecoms fraud and effectively shrinks government financial spends
Financial companies and banks must comply with the KYC norms set by government regulators in order to provide high-level standard services to their customers. For traditional bank account opening, citizens need to go to the bank's business office and queue up when the bank is busy, which is very inconvenient. For some premium users, banks need to be able to offer premium services, such as the ability to make account opening services mobile while providing the appropriate services securely and ensuring the consistency of the person and the identification, which is challenging for banks.
FEITIAN launched the mobile authentication terminal, which is an efficient solution for door-to-door business, equipped with face recognition, contact reader, contactless reader, fingerprint sensor, GPS, camera, Wi-Fi, 4G and other functional modules, it allows banks/integrators to integrate relevant authentication modules to prove identity and collect users’ data, including ID verification, facial recognition, and biometric verification for real-name authentication of citizens' identities.
With improved services, banks can process their services faster and more efficiently, the user experience is enhanced as well