Turkey’s Akbank taps Daon for facial recognition

Akbank has become the first bank in Turkey to deploy facial recognition for mobile banking authentication.

The bank has partnered with biometric identity technology company Daon, to deploy its IdentityX facial recognition technology.

Akbank said it has embraced the concept of authentication as a platform and is committed to expanding the role of biometrics throughout its customers’ journeys and touch points with Daon’s IdentityX at the heart of the omni-channel platform.

“Nearly 250,000 of Akbank’s mobile banking users opted-in to use the facial recognition technology almost immediately,” said Tom Grissen, CEO, Daon. “This is one of the fastest-growing user adoptions we have seen globally. We attribute this to Akbank’s attention to first-class innovation, user experience and communication, combined with the appeal of IdentityX. Daon is privileged to be Akbank’s partner on this important digital journey.”

Headquartered in Virginia, US, Daon’s IdentityX is a unified platform for Digital Onboarding and Authentication. It allows users to authenticate themselves on any mobile device just by taking a selfie. It is adaptable to allow its clients, and their customers, to pick and choose the biometric they’d like to use, including but not limited to facial recognition, voice recognition, and fingerprint id.

The product is now being implemented by customers in the banking, technology, investments and gaming sectors, who require more trusted mechanisms to meet Know Your Customer (KYC) and Anti Money Laundering (AML) regulations for identity verification during account opening.

Earlier this year, New Zealand Department of Internal Affairs(DIA) selected Daon to bolster its digital boarding mobile app. Daon’s IdentityX Platform is now part of the DIA’s digital onboarding mobile app, RealMe Now, which enables customers to create an online verified identity.

Copyright © 2018 RegTech Analyst

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