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Azentio Software joins Regula to boost identity verification for digital onboarding

By Gloria Mathias

January 23, 2024

  • Africa
  • Africa Fintech
  • APAC Fintech
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Azentio Software, Cloud Data, Singapore News, Fintech News, APAC News, APAC Fintech, Islamic Bank, Shariah Compliance, IBSi, GFIA 2023, Global Fintech innovation Awards, IBSi, Regula, Identity Verification, Face Detection, Digital Onboarding, Fintech news, Fintech APAC, Fintech News, Azentio Software, a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced a strategic partnership with Regula, a global developer of forensic devices and identity verification (IDV) solutions.

This partnership will enable Azentio to harness Regula’s expertise in identity verification and, thereby, boost its ability to seamlessly embed IDV in its digital onboarding solutions.

Two of Regula’s solutions, Regula Document Reader SDK and Regula Face SDK, will be integrated with the Azentio ONEBanking and Azentio ONECapitalMarkets platforms. With a complete identity verification flow, Regula Document Reader SDK will ensure automated and secure identity proofing, while Regula Face SDK will instantly perform biometric verification, including liveness detection and face matching, within a single interaction. These technologies will equip Azentio’s clients with instant and fraud-free ID verification, adding confidence, efficiency, and security to their operational processes.

Azentio’s vast clientele of banks and financial institutions with operations across Asia, the Middle East, and Africa will be a vital and versatile asset.

Khaled Berjawi, Head of Product Management, Banking & Capital Markets, Azentio, stated, “At Azentio, cultivating a seamless, secure, and technologically advanced digital onboarding experience is not just a mission; it’s an obsession. With Regula as our strategic partner, we’re not merely changing the game; we’re rewriting the rules of trust in the digital age. Together, we’re guiding our clients towards a future where trust meets innovation, orchestrating a symphony of cutting-edge technology and unwavering trust that sets the stage for a new era of identity verification.”

Ihar Kliashchou, Chief Technology Officer, Regula, said, “We are glad to join forces with Azentio to bolster identity verification in remote onboarding and KYC processes for banks and other financial institutions across continents. Financial services are among the most vulnerable industries when it comes to identity fraud. Our recent survey showed that such a threat cost nearly half a million US dollars to every third bank in the world last year. So, this industry needs the strictest regulation and, consequently, the most powerful solutions that can meet such high standards.”

 

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