Achieving more secure electronic contract signing through identity verification using biometric authentication
TOKYO, Oct. 10, 2024 /PRNewswire/ -- Liquid, Inc., a member of the ELEMENTS Group, partners with Docusign, the Intelligent Agreement Management company, to provide its online identity verification service "LIQUID eKYC" utilizing biometric authentication technology. The feature will verify the identity of signers through an integration with the Docusign ID Verification solution and is scheduled to be launched at the end of April, 2025.
The process of verifying the identity of the signer using “LIQUID eKYC”
"LIQUID eKYC" is a service that completes identity verification online by photographing identification documents or reading IC chips and matching them with self portraits, or by using public personal identification (JPKI). The service is characterized by a low withdrawal rate and low percentage of unclear images during the process, as well as high accuracy of automatic face recognition by using biometric and image recognition technologies.
"LIQUID eKYC" will provide Docusign with an online ID verification solution that enables the sender to verify the identity of signers during the signing process when an agreement requires a high level of trust. The identity verification procedure is simple, as the signer can complete it by taking a photo of their driver's license issued in Japan and face with a smartphone.
Merits
By using government-issued identification documents and verifying the identity of the signer using biometric authentication, we can achieve more secure electronic contract signing.
The signer can easily complete the identity verification using their smartphone without needing to perform complex operations. In addition, the unique image processing technology of "LIQUID eKYC" can judge the quality of the photographed image in real time, and if there are any issues, it will notify the signer of on the spot and guide them through the easiest way to take the photograph.
The AI-based screening function of "LIQUID eKYC" automatically performs tasks necessary for identity verification, such as matching the signer's identity information with their ID documents and masking sensitive personal information on the ID documents. This improves convenience by allowing the signer to start using the service immediately.
"LIQUID eKYC" with the largest share of the eKYC market for five consecutive years※
The service provides online completion of identity verification required for online contracts, account registration, and account opening. We offer a method that takes a picture of an identification document or reads an IC chip and matches it with selfies, as well as a method that utilizes public personal authentication (JPKI / Smartphone JPKI). We can also support age verification for student discounts. Our proprietary AI, biometric, and OCR technologies have enabled us to maintain a low drop-off rate from the start to the end of the photo shooting process and the cumulative number of identity verification cases has exceeded 50 million.
For more information, visit: https://liquidinc.asia/global/kyc-application/
※ITR "ITR Market View: Identity Access Management / Personal Authentication Type Security Market 2024 eKYC Market: Sales Value Share by Vendor (FY2019-FY2023Forecast)
About Liquid
Liquid aims to create a seamless world where all of the world's approximately 8 billion people can easily and safely use all services as they are by automatic and ubiquitous authentication. We provide our own Digital ID, KYC and Authentication service, where users can prove their identity anytime, anywhere in the world with their smartphone or face. We are expanding our service globally and use the know-how accumulated under the Japanese strict law and rule. We adapt our operations and services flexibly and quickly to changes in the required legal and security framework.
For more information, visit: https://liquidinc.asia/global/
