Liquid Inc Offers LIQUID eKYC to Kanmu for ID Verification

Liquid Inc., a member of the ELEMENTS Group, will provide the online identity verification service “LIQUID eKYC” when issuing the Visa prepaid card “Bandle Card” provided by Kanmu Inc., a member of the MUFG Group. The “Method H”, which combines IC chips and facial recognition, has the highest automatic approval rate of any legally compliant method, at approximately 99%, and significantly reduces the burden of inadequate identity verification and visual confirmation.

VULVELE CARD is a rechargeable Visa prepaid card used mainly by young people, and is characterized by the fact that it can be easily issued, recharged, and used for payments through a smartphone app. Kanmu used a method of identity verification at the time of card issuance that combined a photo of the identity document and non-forwardable mail. This time, they decided to introduce LIQUID eKYC in order to improve screening problems such as unclear images and input errors.

Key points of introduction

With the introduction of LIQUID eKYC, identity verification will be carried out using the IC chip on identification documents such as driver’s licenses and My Number cards, as well as facial recognition. Identity verification for foreign residents in Japan will also be supported.

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By utilizing IC chips, the screening process is automated,
with an automatic approval rate of approximately 99%. Visual confirmation is not required, and the screening process is significantly reduced. It also eliminates problems such as unclear images caused by photographing documents. Compared to other legally compliant methods, such as the NG rate of the Public Personal Identification System (JPKI), which is approximately 6%, this system achieves the highest accuracy.

Applications can be completed online,
eliminating the need to receive non-forwardable mail, which was previously required, greatly improving user convenience.

No need to enter name, address, or date of birth; these
are automatically obtained from the IC chip on the My Number card, reducing the input burden on the user.

Prevents fraudulent use: Counterfeit documents and transfer/theft of My Number cards are supported
By verifying the electronic signature on the IC chip, it is possible to check for tampering. In addition, it checks whether the selfie facial image matches the facial information on the identification document to prevent impersonation.

SOURCE: PRTimes