Humaniq, a London-based FinTech company, has implemented a new smart bio-identification system to strengthen security for outgoing transactions.
The company said the additional bioID settings will act as an extra safeguard and be integrated into the Humaniq app.
It provides a Blockchain-based mobile application for the unbanked and underprivileged in emerging economies globally. Humaniq is focused on worldwide financial inclusion by providing access to global markets, greater opportunities, and novel financial solutions using re-purposed technologies for those gaining access to financial services for the first time.
Through Blockchain ledgers it allows a specific behavioural pattern for every wallet activated in the app to be identified. If transactions are detected as not fitting this pattern for a user, Humaniq’s smart system will request further biometric identification data. The more transactions a user carries out, the more detailed and thorough the profiling of their wallet is.
“We will never be satisfied with what we have achieved, and we will always work towards enhancing the quality of our service and our users’ experience as we empower the unbanked,” said Anton Mozgovoy, CTO.
“The Humaniq team continuously receives and analyses feedback from our community and we leave little possibility for any error, even a slight one, to occur.”
The Humaniq app features a wallet, secure messenger, live support chat, peer-to-peer transactions in African countries (Uganda, Senegal, Zimbabwe, Tanzania, and Rwanda) and P2P encryption for file- sharing and transactions.
Last year, RegTech startup Coinfirm partnered with the company, integrating its AML/CTF Platform across the Humaniq ecosystem. The platform provides structured actionable data that claims to increase efficiency, reduces costs and streamlines compliance to near automation.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
