tag:blogger.com,1999:blog-27939724595482932022024-03-14T16:04:50.494+08:00Innov8tif BlogHelping businesses to widen sales funnel, speed-up processes without paper and prevent frauds using e-KYC and low-code process digitization.Tiensoonhttp://www.blogger.com/profile/07124788456473556641noreply@blogger.comBlogger89125tag:blogger.com,1999:blog-2793972459548293202.post-2295241098032072422021-12-31T16:10:00.005+08:002021-12-31T16:12:41.843+08:00CSR: Spreading Christmas Joy with Sunway Shoebox<p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Arial; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><br /></span></p><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjMuYxN92CR_Y_JxUThsGIePaxgD6tQJOrACnOKkYel_DcVZKxY0uB3E3gY4Sro8JsYl9Xx4DIhHUZQjvH_WIKqV7NlYHBxsgnIHreyL5cfj5qo74OYfCaVl1pXpxqbYvS4yYWm6M5QdzASlsEZUHK7XPgT1SCV7NjAMSWYfYnf81vvQa3RnXd81vp9=s6000" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="4000" data-original-width="6000" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEjMuYxN92CR_Y_JxUThsGIePaxgD6tQJOrACnOKkYel_DcVZKxY0uB3E3gY4Sro8JsYl9Xx4DIhHUZQjvH_WIKqV7NlYHBxsgnIHreyL5cfj5qo74OYfCaVl1pXpxqbYvS4yYWm6M5QdzASlsEZUHK7XPgT1SCV7NjAMSWYfYnf81vvQa3RnXd81vp9=s320" width="320" /></a></div><br /></div><div class="separator" style="clear: both; text-align: justify;"><br /></div><div style="text-align: justify;">In the spirit of Christmas, Innov8tif is giving back to society by donating to Sunway Student Volunteers (SSV) through their annual program, Shoebox Christmas. This program sheds light on social concerns faced by underprivileged communities amidst the pandemic. </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">The reusable shoe boxes which are often disposed of, containing gifts amounting to RM20, where the content of each gift may vary based on the children’s ages. The program was initiated with the aim of providing gifts to children from underprivileged communities. This year, there were 3 underprivileged communities, which are orang asli settlements, Persatuan Membantu Orang Kelainan Upaya Malaysia & Persatuan Rumah Kebajikan Hajah Kamariah. </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">“Innov8tif has always been a company that does a lot of community services, it is one of our ways to help those in need. We may not know how they are suffering, but we hope that with our small contribution we can bring joy to everyone that receives the shoe box, regardless of their age”, Joe Seah, COO of Innov8tif.</div><div style="text-align: justify;"><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhFAG8j_qz93Zt90gtyEazlOl5z5B2bNg_yOysu8Io1qHF6kuaIP2tPyFxlxrT978anXBISJDKW0sXQ3d2aAZOFzdmyx-atT94S177CRTTWQNcNV94bc31Z8GV_qNTdScQTx7WwVMQRVNb9JBs_h6GIG9BZSEtMcqQG0bIWiLCzImRCVKXWq6hbdzZU=s5822" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2962" data-original-width="5822" height="163" src="https://blogger.googleusercontent.com/img/a/AVvXsEhFAG8j_qz93Zt90gtyEazlOl5z5B2bNg_yOysu8Io1qHF6kuaIP2tPyFxlxrT978anXBISJDKW0sXQ3d2aAZOFzdmyx-atT94S177CRTTWQNcNV94bc31Z8GV_qNTdScQTx7WwVMQRVNb9JBs_h6GIG9BZSEtMcqQG0bIWiLCzImRCVKXWq6hbdzZU=s320" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div></div><div style="text-align: justify;"><span style="font-family: Arial;"><span style="font-size: 14.6667px; white-space: pre-wrap;">Almost 200 shoe boxes are given to children of different age groups at various locations, with distribution starting from 19th to 21st of December. Locations include “Persatuan Membantu Orang Kelainan Upaya Malaysia”, and Carey Island – settlements that accommodate orang asli families. Shoe boxes were also distributed to Persatuan Rumah Kebajikan Hajah Kamariah, a home for single mothers and orphans.
We would like to thank Sunway Student Volunteers for organising this event.</span></span> </div><p dir="ltr" style="line-height: 1.38; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt; white-space: pre-wrap;"> </span></p>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-69092338224777645262021-12-17T11:19:00.001+08:002021-12-20T11:11:55.946+08:00Looking Back : 3 Trends within eKYC in 2021<h3 style="text-align: justify;"> A message from our CEO, George Lee</h3><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjhxipedmW8SdqhmliFc59-69DdwUdDPXtXsX9v1gy5nvodOMPQ-JReU-U88hXyP2jYZFgpQ0t8uTe-2j0KdJP0K5QH7e_HTLgAHMc22I64mViwCNdVXVslO0x4HlYpZ2ynDB0kiAqjid1Pwc4AOsHqgfVTi_C-L19zl3dsI43lwjoXC246NC-DVJWe=s2560" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1555" data-original-width="2560" height="194" src="https://blogger.googleusercontent.com/img/a/AVvXsEjhxipedmW8SdqhmliFc59-69DdwUdDPXtXsX9v1gy5nvodOMPQ-JReU-U88hXyP2jYZFgpQ0t8uTe-2j0KdJP0K5QH7e_HTLgAHMc22I64mViwCNdVXVslO0x4HlYpZ2ynDB0kiAqjid1Pwc4AOsHqgfVTi_C-L19zl3dsI43lwjoXC246NC-DVJWe=s320" width="320" /></a></div><br /><div><br /></div>
<p style="text-align: justify;">Although 2020 was the year of coronavirus, this year is when companies are truly tested beyond their limits. Not every industry can withstand the onslaught of the pandemic lockdowns, but we are fortunate to be part of the good tail end of the K-shaped economic recovery.</p>
<p style="text-align: justify;"><a href="https://www.fnfresearch.com/e-kyc-market">A 2021 report by Facts and Factors</a> shows that the global eKYC market is growing at a compound annual growth rate (CAGR) of 22%. Innov8tif is experiencing growth several times larger than that — thanks to our solid team of engineers and product makers, with some elements of luck involved.</p>
<p style="text-align: justify;">As the dust settles, investors and clients have become accustomed to the pandemic cycles and are now looking towards the future. Here are <strong>three key trends</strong> we have observed, which will shape the industry moving forward:</p><p style="text-align: justify;"><br /></p>
<h4 style="text-align: justify;">1 — Staying ahead of cybercriminals</h4>
<p style="text-align: justify;">The pandemic also saw a boom in cybercriminal activities. Cybersecurity Malaysia reported <a href="https://www.thestar.com.my/news/focus/2021/09/19/online-threats-continue-to-spike">31 incidents happening in Malaysia every single day</a>, from fraud, to hacking and data breaches.</p>
<p style="text-align: justify;">Innov8tif's solutions are built to combat some of these issues, but we have also taken steps to protect ourselves from such threats as well. In addition to obtaining our ISO certification in January, our internal tech teams have formulated detailed policies on how sensitive data is being handled and stored.</p>
<p style="text-align: justify;">We will not dive deep into our cybersecurity policies here, but our clients can rest assured that we are paying attention to movements within these criminal groups, and are actively partnering with other cybersecurity firms to ensure the safety of our client's data.</p>
<p style="text-align: justify;">We foresee <strong>the race against fraudsters intensifying moving forward.</strong> As eKYC product builders, we are constantly ahead in finding loopholes on how fraudsters can bypass our verification checks, whilst also patching up any bugs found within our internal systems.</p><p style="text-align: justify;"><br /></p>
<h4 style="text-align: justify;">2 — Thinking and growing regionally</h4>
<p style="text-align: justify;">Identity assurance is not just a local need, but an issue that companies all around the world are trying to address. It plays a crucial role in many processes, such as real-time payments, customer onboarding, protecting supply chains, and even enabling digital banks to exist.</p>
<p style="text-align: justify;">The current demand for our product is already overwhelming, but we are primed to capture any future demand that may arise. Thailand, Philippines, Cambodia, Indonesia and Singapore; These are some of the areas that we have penetrated in 2021, and we have no plans on slowing down.</p>
<p style="text-align: justify;">To enable Innov8tif to grow at such a rapid rate, we are also in the midst of reviewing and refining our internal processes.</p>
<p style="text-align: justify;">It is a huge hurdle for us, but it is best to have an early start. This luxury will soon turn into a necessity, because we have <strong>almost doubled our employee headcount in just a year</strong>. To enable our company to grow regionally, we need to set processes that enable our valuable team members to think and operate on the same scale.</p><p style="text-align: justify;"><br /></p>
<h4 style="text-align: justify;">3 — Rising competition within this space</h4>
<p style="text-align: justify;">As a B2B growth company, sales cycles are long, and there are plenty of opportunities for competitors to insert themselves into the marketplace. The demand for ID verification has increased, but so does the effort and resources needed to capture it.</p>
<p style="text-align: justify;">Within just a year, we have seen several new faces within the industry — be it freshly founded startups, sudden acquisitions or institutions launching new product lines. We have time-in-the-market and product maturity on our side, but their entrance into the market is being noted.</p>
<p style="text-align: justify;">Like us, even lucky companies within booming industries have their own sets of challenges. Fortunately, we have plans to address these issues as well. We are not just going to put up a fighting chance, but are confident in becoming the world's leader within the identity assurance space! This is due to the core foundation we have tirelessly built across the years:</p><span><a name='more'></a></span><h3 style="text-align: justify;"><br /><strong>A blend of old and new; experience and innovation</strong></h3>
<p style="text-align: justify;"><strong>We are not like other tech startups</strong>. Innov8tif has just celebrated our 10th year anniversary — meaning that we have been serving large institutions way before smartphones even became mainstream.</p>
<p style="text-align: justify;">We have our roots in software development and aiding the customer onboarding process. Hence, we have a deep understanding of our client's needs and wants, and how our solutions can fit into various back-end IT infrastructures.</p>
<p style="text-align: justify;">This wealth of experience is aided by the new wave of bright talents joining our workforce, bringing fresh new ideas into the workspace. Artificial intelligence is a growing industry with unlimited untapped potential, and we want to give younger talents free rein over the creative process.</p>
<p style="text-align: justify;">At Innov8tif, we reward younger talents that have come up with creative solutions that resolve clients’ real and tangible problems — such as in the case of our product team lead, who has spearheaded the development of many of our in-house solutions.</p><p style="text-align: justify;"><br /></p>
<h3 style="text-align: justify;"><strong>We value homegrown technology</strong></h3>
<p style="text-align: justify;">We take great pride in the fact that our core solutions and processes are <strong>developed entirely in-house and are patented</strong>. This means that we have full control of our product development, and are able to adapt them according to our client's needs.</p>
<p style="text-align: justify;">For instance, our ID verification document solution <a href="https://www.notion.so/CEO-Message-EKYC-in-2021-3d8c5e74fcc8424cb2dd01c79da7c914">OkayDoc</a> is built from data collected from ASEAN countries, and is specifically tuned to detect the nuances and complexities within these documents. This had prevented many fraudulent sign-up attempts that leverages on weaknesses within generic verification systems.</p>
<p style="text-align: justify;">Operating within ASEAN for this long, we genuinely believe that there is a goldmine of hidden young talents with highly sought after work ethics and soft skills within this region, and have taken steps to onboard them. In fact, our unique work culture and reputation amongst universities is something we are extremely proud of.</p>
<p style="text-align: justify;">We want our teams of engineers to take pride and ownership in the products they have developed, by having their names forever engrained within these patent documents. Through these efforts, we hope to move the needle forward in growing ASEAN into the digital talent hub — one that our clients, ecosystem builders, and ourselves, hope that it could be.</p><p style="text-align: justify;"><br /></p>
<h3 style="text-align: justify;"><strong>Specialising and Innovating</strong></h3>
<p style="text-align: justify;"><strong>Internally, we are upgrading from eKYC 1.0 to 2.0.</strong> Despite being involved with the latest technology, the needs and challenges within the identity assurance space are constantly changing. We are realising that eKYC alone could not address all of our clients' issues.</p>
<p style="text-align: justify;">Instead, we have pivoted away from just eKYC to identity assurance as a whole. In fact, our vision is to be the world leader in identity assurance — not just verification or authentication, but the entire package!</p>
<p style="text-align: justify;">Making such a pivot also forces us to rethink how we view competition and industry challenges. We have been inspired by the vibrant Malaysian semiconductor industry, where companies combine resources and collaborate with each other to resolve industry issues that could not be tackled alone.</p>
<p style="text-align: justify;">Our industry will soon move in the same direction. In fact, we have partnered with several digital solutions companies, with more on the way. In addition to these partnerships, there are also several new products within our pipeline. We are excited to share them with you through product launches and announcements next year!</p><p style="text-align: justify;"></p><p>2021 is a difficult year for all of us, but we don't plan on resting on our laurels. We hope to break new ground and bring this industry to places not thought possible before, through innovation and cold, hard grit.</p>
<p>There will be new exciting announcements coming your way. We look forward to working with you in the fresh new year ahead.</p><br /><p></p>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-89540699115059489572021-12-15T12:31:00.000+08:002021-12-15T12:31:00.210+08:00Metaverse and the Future of Computer Vision<p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Metaverse - a new phase of interconnected virtual experiences using technologies like virtual and augmented reality. At its heart is the idea that by creating a greater sense of “virtual presence”, interacting online can become much closer to the experience of interacting in person. Imagine users having their own virtual avatars in the metaverse which are analogous to their physical self, allowing them to enjoy an alternate life in a virtual world.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgxrNzWyY9uI2PoYeNh-0zUxgUherg6eWInfoPcuVKOlueVV9vwlOrhyW7KVnfaWr9di6pVq_D9_DYiGpxN8VmWXTvhx97-nhsL_-Fkym4TuuctPvVE9aaUncE0Ced_CAQmf_6691eMAYs9zul_ohJWVqNtiDN0U_1dPUrMaz5XCUhWL3S3wbNK8_oo=s5760" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="3840" data-original-width="5760" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEgxrNzWyY9uI2PoYeNh-0zUxgUherg6eWInfoPcuVKOlueVV9vwlOrhyW7KVnfaWr9di6pVq_D9_DYiGpxN8VmWXTvhx97-nhsL_-Fkym4TuuctPvVE9aaUncE0Ced_CAQmf_6691eMAYs9zul_ohJWVqNtiDN0U_1dPUrMaz5XCUhWL3S3wbNK8_oo=s320" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: pexels.com</td></tr></tbody></table><br /><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Content creators can engage with digital creations that are linked to physical counterparts. A large ecosystem that includes culture, business, social norms, and laws and regulations (such as data ownership), can support these digital creations — which are supplemented by protective and additional measures including biometric security and even business-related tools that enhance digital experiences such as digital customer onboarding.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Artificial Intelligence will be used to enable, populate, and sustain the metaverse (AI). It will power the metaverse's seven technology layers, including spatial computing, scaffolding for creators, and new and sophisticated kinds of narrative. Few people appreciate how swiftly artificial intelligence is developing. Before the formation of these innovative neural networks, AI had already made significant progress: voice recognition in Alexa, machine vision (such as that used in Tesla's autonomous driving systems or Google image recognition), and algorithms that appear to surface things on social media that elicit reactions from us.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Indeed, it is thought that it might be to Virtual Reality (VR) what the present smartphone is to the 1980s' cumbersome mobile phones.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><span></span></span></span></p><a name='more'></a><span style="color: #3c4043; font-family: Arial;">Instead of using a computer, you may use a headset to visit a virtual world that connects many digital worlds in the metaverse. Unlike current VR, which is mostly used for gaming, this virtual environment could be used for anything, including work, play, concerts, movie trips, or just hanging out. </span><p></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">The metaverse is generating a lot of buzz among affluent investors and big tech companies, and no one wants to be left behind if it turns out to be the internet's future. For the first time, there's a sense that the technology seems to be almost there, with breakthroughs in virtual reality gaming and networking approaching what's required.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><h4 style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Metaverse biometrics</span></span></h4><div><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></div><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Virtual reality interaction is now accomplished using headgear and gloves, as well as additional sensors placed on the body. Beyond communicating the user's movement in a game or virtual meeting, these might already collect data on them. It was possible to track gait, eye movement, and physiological reactions. Scanning faces or pictures to build virtual replicas of real-life likenesses could open new avenues for biometric misuse. Smartphone users may have already allowed their phones to perform a 3D scan of their faces to generate a Memoji — a personalised, animated emoji – of themselves.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">For marketing objectives, user behavior could even be tracked. While existing internet users reveal their interests by what they search for online, tracking in the metaverse might detect what users look at with their heads and even simply their eyes. This form of Metaverse biometric data would be classified as a separate category, not included in existing marketing consent or GDPR categories. Given that the metaverse connects an unknown number of spaces, it's unknown how any agreements on user data and biometrics would be communicated, or whether real-life biometric security and verification would be required for a user to travel from one space to another virtually.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Interfaces that go beyond visors and external sensors might, of course, obliterate our existing concept of biometrics. A new sort of metaverse biometrics could be produced with brain-specific indicators giving user verification and authentication if technology advances to implant that interface (more) directly with the brain. The GDPR would have to be updated.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><h4 style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Metaverse to Increase Efficiency and Reduce Costs</span></span></h4><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">The metaverse is now being examined as a world where new industrial, social, and cultural values are produced when the real and virtual worlds begin to interact and affect each other because of the epidemic. Users of the Metaverse actively use the digital realm to unveil and communicate their various identities that are not based on reality. Metaverse can help you save time and money. The hardware and software costs generated in the physical environment can be considerably minimised because everything takes place in the virtual realm. In the case of SMEs, you can create and use a training institute in the metaverse, as well as virtual offices.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Furthermore, the metaverse can make the socially isolated setting more efficient. Avatars and video chat functions can be utilised simultaneously on the platforms, and users can even share data while on video calls. If you use the metaverse platform 'Gather Town' to construct a virtual training center, for example, you can train your staff through data sharing, team learning, presentations, and conversations conducted by all participants. Users can express their thoughts as avatars via various metaverse communication methods, making it easier for anyone to voice themselves freely.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></p><h4 style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Interface Optimisation</span></span></h4><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Computers are improving at recognising gestures, allowing us to connect with them more naturally — and eventually, comprehend emotion and body language. The photoreceptors in your eye are densest in a region called the fovea — that's where your highest resolution perception exists, and everything else is your peripheral vision. Another key part of the immersive interface for VR is eye-tracking; which typically works by continuously measuring the distance between the pupil center and the reflection of the cornea – the distance changes depending on the angle of the eye. An infrared light, invisible to the human eye, creates this reflection while cameras record and track the movements. Computer vision algorithms are able to deduce from the angle of the eyes where the gaze is directed. Virtual reality must offer the most accurate information in the area where your eye is focused.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">AI is being used to forecast where your eye will glance next, even when you're blinking so that the best rendering can be prepared ahead of time. This is critical for providing the most immersive experience, and it will be critical for next-generation technologies like holographic light fields, which require a massive increase in graphics processing. Travel and tourism companies can use these technologies as digital customer onboarding and biometric security to ensure their clients have a high amount of seamlessness and ease during their holidays.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><h4 style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Fusion of Language and Vision</span></span></h4><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Visual space contains intricate data that can influence how words and narratives are written, resulting in more realistic AI storytelling, creative collaboration, and machine understanding. The possibilities for use in the metaverse are enormous. Users will be able to digitise their actual physical surroundings and interact with each other as lifelike human images rather than cartoonish avatars in pre-built virtual worlds in the greatest form of it. </span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Giving people the tools they need to smoothly integrate the actual world with the virtual world's limitless flexibility would pave the road for all of us to teleport to anyone's surroundings anywhere on the planet. We will be able to more successfully create future products, meet and cooperate with distant colleagues, and experience any remote location in real-time in the reality-based metaverse.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><br /></p><h4 style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Why do we want the metaverse?</span></span></h4><div><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;"><br /></span></span></div><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Facebook no longer wishes for us to live in "The Matrix." After all, the modern metaverse begins in our pockets and watches. It's profitable because of its accessibility, not because of its immersion. Companies pushing for metaverse functionality want to make sure that consumers have regular access to anything related to where they are, even if it's not what they see, hear, or smell. This minor difference is crucial; it is what determines the metaverse's success. Social media isn't meant to replace face-to-face contact; rather, it's meant to improve it. Similarly, the metaverse can only be successful if a superior form of reality is 'layered' on top of our own. The metaverse must be enhanced, mediated, and enriched.</span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">So, there's machine learning. What role will it play in the metaverse? What is it doing now, or, more significantly, what is it planning to do? Everything is a simple answer. It might propose that you go to a pub or a coffee shop depending on what time of the day you open your Maps application. After a few travels, it can tell your home from your business, which is something a map can't always do. Inferences about us are fueled by our history of contacts with the world, which is collected and synthesized by the technologies we use. </span></span></p><p dir="ltr" style="line-height: 1.295; margin-bottom: 8pt; margin-top: 0pt; text-align: justify;"><span style="color: #3c4043; font-family: Arial;"><span style="background-color: white; white-space: pre-wrap;">Ultimately, the metaverse concept is still in its infancy, and there’s much more to be discovered along the way. However, it’s clear that the potential of the metaverse and its impact on the way we utilize and understand machines or computer vision could be massive.</span></span></p>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-76582460800450886152021-11-05T10:55:00.001+08:002021-11-05T11:18:09.424+08:00What are Some Differences between InsurTech and Conventional Insurance?<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgMlybtWWAOxGreYQmOXkWuYZyj1_9v3tFd4NMveVX_EMYJFy1nLv6ET5ETCNjibvmEUgVW6Vymr7LwdE0UkW8Tf5FNQDovUd3AmBxWrGhSiGjGgklrX5paIZPpDdV-TytTtTzxA4yBBeHH8C8jELqsdZ9rTgQbugVg8wK8oIFm42One4M-YJJW2Y_O=s2048" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1494" data-original-width="2048" height="233" src="https://blogger.googleusercontent.com/img/a/AVvXsEgMlybtWWAOxGreYQmOXkWuYZyj1_9v3tFd4NMveVX_EMYJFy1nLv6ET5ETCNjibvmEUgVW6Vymr7LwdE0UkW8Tf5FNQDovUd3AmBxWrGhSiGjGgklrX5paIZPpDdV-TytTtTzxA4yBBeHH8C8jELqsdZ9rTgQbugVg8wK8oIFm42One4M-YJJW2Y_O=s320" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: pexels.com</td></tr></tbody></table><p style="text-align: justify;"><br /></p><p style="text-align: justify;">Although the word "<a href="https://www.mckinsey.com/industries/financial-services/our-insights/global-perspectives-on-insurtechs" target="_blank">InsurTech</a>" dates back to at least 2010, its use and influence have grown in recent years. InsurTech - a portmanteau of insurance technology – is about how technology is transforming the insurance sector at its most fundamental level. InsurTech in Malaysia and the rest of the world has gained relevance over time as an integral component to the future of insurance. Like Fintech, it is a wide term that encompasses both insurance processes and products. It's also often used in the insurance business to describe disruptive start-ups and products. InsurTech's ascent has coincided with the advancement of Artificial Intelligence (AI) technology and the enhanced data-crunching capability now available to businesses.</p><p style="text-align: justify;">The investment share of the InsurTech market fell dramatically in 2020, although analysts believe this is a one-time pandemic-related blip. Investment, as determined by the number of agreements completed, has consistently increased over the last decade, peaking in 2018 with 466 deals completed worldwide. As a result of the epidemic, several insurers have accelerated their digital transformation initiatives and are looking for InsurTech opportunities that can help them speed up virtual interactions in sales and claims while also lowering costs.</p><p style="text-align: justify;">Data has traditionally been used by insurance companies to perform the core responsibilities of underwriting risk and assessing claims. According to Abbott, new technologies have boosted the volume and quality of data available, allowing insurers to uncover new efficiencies and develop new solutions. The initial concentration was on web-based and mobile-friendly content. It was always about making the experience more user-friendly. In recent years, we've seen technology like Artificial Intelligence (AI) and data analytics used to develop more efficient and cost-effective alternatives.</p><p style="text-align: justify;">With that being said, there are few differences between InsurTech and conventional insurance that may lead to a disruption of the insurance industry, bringing more innovative and customer-friendly services to market.</p><span><a name='more'></a></span><p style="text-align: justify;"><br /></p><h3 style="text-align: justify;"> New-age Insurance (InsurTech) vs Traditional Insurance</h3><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">1. Pricing</h4><p style="text-align: justify;">Because of their numerous branches and offline strategy, traditional insurance has large operational costs. New-age insurance on the other hand is built on a cost-effective and efficient online concept. Because these businesses are digital, their policies are less expensive than their traditional counterparts. So many InsurTech companies boast of seamless operations, low headcounts, intermediary-less (and highly scalable) operations, and exponential growth rates.</p><h4 style="text-align: justify;">2. Buying Process</h4><p style="text-align: justify;">In the case of typical insurance, the purchasing process is cumbersome and multi-step. Customers are sometimes perplexed and angered by the lengthy and perplexing purchasing process. The purchasing process for new-age insurance, on the other hand, is exceedingly straightforward and quick. It's similar to the purchasing method used by major e-commerce companies. Something with which the users are familiar and at ease.</p><h4 style="text-align: justify;">3. Communication</h4><p style="text-align: justify;">Many people believe that insurance is difficult to comprehend. This is primarily related to how information is delivered to them. Traditional insurance communicates features and benefits of plans using a lot of languages, whereas new-age insurance focuses on communication that is readable and understandable. According to a report by McKinsey; young, digitally savvy segments are less company-loyal and tend to treat financial products and services, including insurance policies, as interchangeable as long as they fulfill personal needs. They value convenience and like to execute transactions remotely—if possible, without direct interaction with the institution.</p><h4 style="text-align: justify;">4. Claims</h4><p style="text-align: justify;">The claims process of an insurance firm is critical to its reputation. Policyholders frequently experience hurdles during the insurance claims process, making it difficult to file a claim. Customer-friendly and hassle-free claim settlement is a feature of new-age insurance, which addresses this issue.</p><h4 style="text-align: justify;">5. Paperwork</h4><p style="text-align: justify;">The claims process of an insurance firm is critical to its reputation. Policyholders frequently experience hurdles during the insurance claims process, making it difficult to file a claim. Customer-friendly and hassle-free claim settlement is a feature of new-age insurance, which addresses this issue. In a recent Accenture research, the possibility to submit and follow up claims in more ways than before is essential in it all, as are smarter and faster insurance claims processing and the future of claim services on more digital devices. When it boils down to the insurance claims process itself, speed of settlement and process transparency are the key contributors to customer loyalty.</p><p style="text-align: justify;"><br /></p><h3 style="text-align: justify;">How could traditional insurance and InsurTech reach the “sweet spot”?</h3><p style="text-align: justify;">Traditional capabilities from incumbent insurers will be combined with new skill sets brought by InsurTechs to create the winning model.</p><p style="text-align: justify;">Seasoned players with trusted brands, a loyal client base, excellent operations, and a vast amount of data at their disposal are incumbents.</p><p style="text-align: justify;">They also have the financial resources to expand into new markets and introduce novel products and services. InsurTechs are digital companies and small businesses with a laser-like focus, superior technological capabilities, and an agile culture that is well-suited to innovate and drive change. When it works, the outcome may be spectacular. InsurTech is given the capacity to scale quickly and prove the value of its offering, whilst traditional insurance benefits from a portfolio of superior solutions to offer its consumers.</p><p style="text-align: justify;"><br /></p><h3 style="text-align: justify;">How InsurTech and insurance providers can collaborate better</h3><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">1. Sponsorship – From the top</h4><p style="text-align: justify;">Any partnership must have executive buy-in to succeed. Top management must demonstrate dedication, conviction, and vision for how InsurTech will increase the company's value. In their quest for innovation, company executives must also allow the entire organization to explore and try out new ways, which may be at odds with traditional corporate culture.</p><h4 style="text-align: justify;">2. Sight – Finding the right partner</h4><p style="text-align: justify;">Insurance firms must find a partner that can supply the essential aspects to assist them to reach their business goals, as the InsurTech industry is becoming increasingly congested. </p><p style="text-align: justify;">Leaders must be able to identify, recruit, and maintain productive working relationships while also aligning their strategic corporate goals.</p><h4 style="text-align: justify;">3. Separate – Allowing room to grow</h4><p style="text-align: justify;">It may take some time to develop a new solution, so InsurTech companies and insurance carriers should set up adequate and convenient testbeds to nurture technology until it is mature enough to be integrated into the business process.</p><p style="text-align: justify;">Developing innovative platforms within the context of everyday corporate operations can be difficult, and office bureaucracy, protocols, and KPIs can stifle new ideas.</p><h4 style="text-align: justify;">4. Speed - With caution</h4><p style="text-align: justify;">InsurTech enterprises, by their very nature, are more agile and nimble than traditional carriers, which have more organized but also slower decision-making processes. Companies must create a secure atmosphere in which tech-driven innovation may thrive, and teams must be given the freedom to grow and learn fast.</p><h4 style="text-align: justify;">5. Stealth – Be patient</h4><p style="text-align: justify;">Finally, to keep a competitive edge, organizations must move quietly during the InsurTech development period. Because the InsurTech industry is still young and small, keeping these projects hidden until they're genuinely ready for deployment can only benefit the organization in the long run.</p><p style="text-align: justify;"><br /></p><h3 style="text-align: justify;">Criticism of InsurTech</h3><p style="text-align: justify;">Although many of these developments have been long overdue, traditional insurance firms are resistant to implement for a variety of reasons. Insurance is a highly regulated industry with a plethora of legal jurisdictional issues to contend with. As a result, the major corporations have made it this far by being extremely careful, which has led them to avoid working with any startups, let alone startups in their own, highly stable business. This is a greater issue than it appears, as many InsurTech businesses still rely on traditional insurers for underwriting and catastrophe risk management. As more InsurTech businesses gain consumer interest through a refined model and a user-friendly approach, incumbent players may warm to the idea of InsurTech and become interested in purchasing some of the innovation.</p><p style="text-align: justify;"><br /></p><h3 style="text-align: justify;">How Can InsurTech Benefit Traditional Insurance Companies?</h3><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">1. Customer Connection</h4><p style="text-align: justify;">InsurTech companies can deliver Robo-advice through a digital user interface using artificial intelligence (AI) and chatbots. Chatbots are an important part of InsurTech since they improve the client experience and may even be able to replace insurance professionals. InsurTech enterprises may build trust and understanding with chatbots by guaranteeing that cheap and high premium insurance is still viable for their consumer base. However, before implementing chatbots, InsurTech companies should assess their customer base. Insurers may identify chatbots that suit their clients' demands by studying their customers and personalizing criteria such as culture, target market age, smartphone penetration rates, and level of education.</p><h4 style="text-align: justify;">2. Targeted Products</h4><p style="text-align: justify;">InsurTech firms can provide customized, low-cost insurance based on consumption or value-added services. Machine learning and artificial intelligence have the potential to significantly disrupt the industry in this sector. Insurance companies have access to a lot of client data and with the help of companies and their specialty partners. Tech can create bespoke offers based on that data. This customization can be aided by property and casualty (P&C) insurance software combined with advanced analytics and machine learning. Customers' total insurance costs will be reduced by smart P&C insurance software, which will attract them to the company. Property and casualty insurance products and solutions can benefit from such services, ultimately leading to the enhancement of property and casualty insurance products and offerings.</p><h4 style="text-align: justify;">3. Data-driven insights</h4><p style="text-align: justify;">With access to a variety of data streams ranging from telemetry to smartphone apps, InsurTech companies may use machine learning and artificial intelligence to create a completely new experience. Due to the scarcity of relevant data, AI analytics are playing an increasingly important role in guaranteeing that the data can be creatively used to produce insurance products and services. </p><p style="text-align: justify;">Everything from client acquisition to risk models to marketing and distribution channels may be improved with AI. Furthermore, AI is critical in improving the quality of products and services by learning from client insights. It could also help enhance the safety of data and information for the client, through biometric safety measures such as biometric-based time and attendance record-keeping to facial authentication.</p><div style="text-align: justify;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-11480592290875267362021-10-18T10:11:00.003+08:002021-10-18T10:11:51.611+08:00Innov8tif Received a Top Placer Mention for AI in the 2021 Go Global Awards<p>On the 14th October 2021 the International Trade Council announced the winners of the 2021 <a href="https://goglobalawards.org/" target="_blank">Go Global Awards</a>. Originally launched in 1989, The International Trade Council’s Go Global Awards celebrate organizations that drive the global economy through their innovations, technologies, and strategies.</p><p>The 2021 Go Global Awards received a total of 6416 entries, coming from organizations in 178 countries. </p><p>Unlike the past, when we made an announcement for emerging as the winner of awards, the competitive nomination seen at this year’s Go Global Awards is accompanied by winners more qualified than Innov8tif to win the top spot of respective categories. Although not making the final spot, we are pleased to receive an honorable mention from the judging panel - as a Top Placer for Artificial Intelligence in the 2021 Go Global Awards.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-BtIvFmGjHOY/YWzWmZJCMxI/AAAAAAAABus/pa9a8VOUwt46NEXDbxnd2yvpdtiEhT3EwCLcBGAsYHQ/s900/ITC%2BGo%2BGlobal%2BAwards%2B2021_placer-award_innov8tif.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="900" height="400" src="https://1.bp.blogspot.com/-BtIvFmGjHOY/YWzWmZJCMxI/AAAAAAAABus/pa9a8VOUwt46NEXDbxnd2yvpdtiEhT3EwCLcBGAsYHQ/w400-h400/ITC%2BGo%2BGlobal%2BAwards%2B2021_placer-award_innov8tif.png" width="400" /></a></div><p>We are committed to continuously deliver innovations to tackle real-world business challenges using AI while displaying leadership and resiliency in our go-global mission.</p><p>Congratulations to <a href="https://www.luminance.com/" rel="nofollow" target="_blank">Luminance</a> from UK, <a href="https://diveplane.com/" rel="nofollow" target="_blank">Diveplane</a> from USA and <a href="https://aisuperior.com/" rel="nofollow" target="_blank">AI Superior</a> from Germany for winning the top spots in the Artificial Intelligence category of 2021 Go Global Awards.</p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-7205628759462617742021-09-23T16:15:00.006+08:002021-09-23T16:20:24.211+08:00What are Some Benefits of eKYC for Non-Financial Sectors?<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-4qUzk2dbos0/YUwp0ClIcbI/AAAAAAAAFoQ/bdbhVfnnAQIgJnWjReunJnGxfbxYn18wQCLcBGAsYHQ/s2048/pexels-mikhail-nilov-7988664.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1367" data-original-width="2048" height="214" src="https://1.bp.blogspot.com/-4qUzk2dbos0/YUwp0ClIcbI/AAAAAAAAFoQ/bdbhVfnnAQIgJnWjReunJnGxfbxYn18wQCLcBGAsYHQ/s320/pexels-mikhail-nilov-7988664.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: pexels.com</td></tr></tbody></table><p style="text-align: justify;"><a href="https://innov8tif.com/products/customer-onboarding-ekyc/" target="_blank">eKYC</a> (electronic Know-Your-Customer) is a concept that you've probably heard or read about. With the migration of a wide range of products and services to the internet, the necessity for digital customer onboarding has grown. </p><p style="text-align: justify;">The procedure entails a series of tests carried out in the early stages of the customer connection to ensure that s/he is who s/he claims to be, taking into consideration his/her identity documents and persona. A range of rules, such as anti-money laundering (AML), counter terrorism financing, electronic identification standards, and trust services (eIDAS), have had an impact on this process. eKYC solutions are seen as a response to traditional problems that come with customer onboarding.</p><p style="text-align: justify;">All organisations and economic agents are going through a significant digitalisation process. Digital transformation has been one of the most significant shifts in organisations over the last decade, causing those who ignore it to miss out on possibilities or fail in their industries entirely.</p><p style="text-align: justify;">Companies and organisations are battling to transform and digitise processes that previously seemed inefficient. However, specialised solutions have emerged to accomplish this work, transforming and optimising processes using cutting-edge technology such as artificial intelligence and machine learning. As the future grows evidently more tech-reliant, eKYC stands as a strong pillar for many security, regulatory and consumer-related aspects for various businesses.</p><p style="text-align: justify;">eKYC for financial services is obvious in its benefits, as it is mainly driven by regulatory compliance while keeping up with the customer demand for self service channels. On the other hand, could non financial sectors, especially when not driven by regulatory compliance, reap some benefits from eKYC in favour of businesses and consumers?</p><p style="text-align: justify;">Here are a few benefits that eKYC has to offer non-financial sectors:</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">1. Better Operational Measures for Government Agencies</h4><p style="text-align: justify;">Apart from financial institutions, government bodies and agencies can greatly benefit from the implementation of highly advanced security innovations, and eKYC matches the capabilities necessary for more effective processes.</p><p style="text-align: justify;">In many parts of the world, government agencies rely on systems and digital platforms that are either outdated, inefficient or occasionally unreliable. Fortunately, the tide is turning and the digital era has transitioned to include the improvement of many of these government-related systems. However, security and authentication measures must still be kept as a top priority, since there are a lot of verification phases related to many services that fall under the government.</p><p style="text-align: justify;">Whether it’s for documentation renewal and identification confirmation or paying of fines and registering new companies, eKYC can help iron-out authentication processes. In other words, eKYC technology adoption can help to enable uncompromised accuracy when it comes to customer identification and verification. This can be used to ensure safe and secure application processes under government agencies, or the facilitating of supervisory oversight from an internal operations perspective, as well as the improvement of control measures against criminal activities.</p><p style="text-align: justify;"> </p><h4 style="text-align: justify;">2. More Trustworthy Secondary Market Merchants</h4><p style="text-align: justify;">Secondary market merchants can benefit from the eKYC notion of stronger security measures and better authenticity brought on by advanced tech. Seeing that eKYC can protect the interests of various bodies through the validation of legal, regulatory and policy developments, the secondary market can begin to effectively identify reliable prospects and merchants from unreliable players in any given platform.</p><p style="text-align: justify;">Safety is a big concern here as well. In fact, there is a current major focus on the regulation and safety aspects across many verticals, especially since digital inclusivity leads to a higher volume of users on countless platforms. This means that cybercrime, fraudulent activities within financial and non-financial context, as well as digital conflicts are all rapidly on the verge of breaking many areas of any given market. For instance, many <a href="https://www.nst.com.my/news/crime-courts/2020/05/594436/cybercrime-penang-shoots-4417-cent-mco" target="_blank">media outlets within Malaysia</a> alone had reported a rise in cybercrime activity since the MCO, totaling to a 441.7% increase.</p><p style="text-align: justify;">In order to mend trust between businesses and customers, regulators and service providers are working together to implement practices and limitations to prevent crimes. eKYC is a crucial part of that strategy, in order to stop malicious behavior in its tracks through stronger authentication requirements.</p><p style="text-align: justify;"> </p><h4 style="text-align: justify;">3. Restore Visitor's Confidence in the Hospitality Industry</h4><p style="text-align: justify;">What's interesting about the technological preferences between the hospitality and financial industries is that they share many striking similarities, especially when it comes to the need for seamless verification and security. What's more, a post-COVID future relies heavily on the trust and comfort of customers as well as tighter control under regulatory and policy measures. As the hospitality industry opens up again, a new battle ensues to attract patrons to physical spaces when hesitancy is at an all-time high.</p><p style="text-align: justify;">eKYC works to provide features that can help to restore the confidence of visitors, using components like facial recognition technology via face image retrieval or face comparison devices to help identify prospects or optical character recognition based on documentation or passport details.</p><p style="text-align: justify;">This security is coupled with the potential for better contactless services through verification features that don’t require customers to touch devices or linger around registration areas too long. eKYC ultimately helps in the fight against COVID-19 by creating better environments with social distancing in mind and safer hospitality spaces in general.</p><p style="text-align: justify;"> <span></span></p><a name='more'></a><p></p><h4 style="text-align: justify;">4. Verified Gig Economy Service Providers</h4><p style="text-align: justify;">The Gig Economy can be described as the rising trend of work structures that comprise freelancers, outsource providers, remote workers and specialist teams that perform tasks for companies as third-party entities. As the unemployment trend continues to peak, a great number of employees are turning to the Gig Economy as a way to make ends meet. Many of them have built thriving businesses with an influx of clients attracted by competitive rates or other value propositions, and major job platforms are helping to connect both sides with each other.</p><p style="text-align: justify;">Notable platforms like Fiverr are making waves for the Gig Economy’s success moving forward. However, verification and security are still prominent issues within this space. Service providers are responsible for the safety of clients and freelancers, managing disputes and fighting against scammers or other unruly activities. eKYC brings the added benefit of solid authentication to the table, through a myriad of features.</p><p style="text-align: justify;">The Gig Economy's identity and security problems can be fixed with Digital ID reinforcement through seamless eKYC and onboarding processes. This can help reduce transaction risks, ensure accountability among users and control the digital platform's many vulnerabilities.</p><p style="text-align: justify;"> </p><h4 style="text-align: justify;">5. Easier Processes for Insurance Agencies</h4><p style="text-align: justify;">Insurance is yet another example of a sector that relies heavily on consistent verification processes, and it's a prime example of how eKYC can most certainly help to ease the burden of identification through better authentication measures. When customers sign up for a new insurance plan, or wish to modify their existing insurance policy options, agencies need to use their systems to verify or register new prospects into their database.</p><p style="text-align: justify;">Security is at stake, efficiency is at stake and costs are at stake too. eKYC can reduce the costs of customer onboarding for many businesses, increase accessibility for customers and boost efficiency for service providers such as those in the insurance sector. </p><p style="text-align: justify;"> </p><h4 style="text-align: justify;">6. eKYC Solution for the Real Estate Sector</h4><p style="text-align: justify;">The eKYC approach can be heavily implemented in the real estate industry as one of the many areas where money laundering is a problem. The debut of the new digital eKYC solution comes at a time when the real estate industry is under pressure from regulators to improve its anti-money laundering practices.</p><p style="text-align: justify;">For first screening, possible eKYC-related offerings include elements like corporate and individual checks against sanction lists and adverse media stories, as well as biometrically-linked electronic identification verification for all involved individuals to establish their identity and that they are genuine people.</p><p style="text-align: justify;"><br /></p><h3 style="text-align: center;">eKYC is Key to Survival</h3><p style="text-align: justify;">Many sources can be found that state the obvious: what happens when businesses fail to keep up with technology and fight the early adoption of crucial innovations? The solution is simple: they are abandoned. The fact is that technology is rapidly developing. And, as a result of such quick change, some people, particularly criminals, become more inventive. </p><p style="text-align: justify;">As COVID-19 continues to rage around the world, cybercrime and fraudulent financial activities are on the rise as criminals take advantage of people's worries. For example, following MCO, various Malaysian media sites have reported a 441.7% surge in cybercrime.</p><p style="text-align: justify;">Such crimes wreak havoc on the market and cause firms and their customers to lose trust in each other. It motivates many businesses to collaborate with local governments to establish new policies and procedures aimed at preventing crime to ensure their own and the economy's existence. </p><p style="text-align: justify;">eKYC is a critical method for catching hackers in the act. Furthermore, eKYC features boost customer access to banking and other services by providing platforms that are compatible with a variety of devices. It may be possible to do away with the need for a physical presence to verify a customer's identity. During the current crisis, it serves as the ideal link between financial institutions and their customers.</p><p style="text-align: justify;"><br /></p><h3 style="text-align: center;">eKYC Could Help Save Numerous Sectors</h3><p style="text-align: justify;">Beyond prominent financial aspects, non-financial sectors such as the hospitality sector are clearly seeing a multitude of advantages with the implementation of eKYC, especially amid the COVID-19 crisis. Some of the major ways eKYC is helping the situation includes contactless services (where contact is minimised between customers and service providers). </p><p style="text-align: justify;">At a time where the MCO has been lifted in some areas within Malaysia, and travel bubbles (as seen in Langkawi) are beginning to emerge, hoteliers have a heavy duty of ensuring all points of physical interaction are reinforced with better safety measures. This includes finding ways to manage the numerous touchpoints between staff and guests, while minimising the risk of long queues for check in and check out points. </p><p style="text-align: justify;">Families will come in large groups for holidays, and hoteliers can expect endless crowds, which means that there's an urgent need to speed up customer onboarding processes. eKYC has the potential of optimising on-ground processes to a point where contact is at a minimum, and efficiency is improved. Faster, contactless onboarding could be the difference between success and failure at this point in time, and eKYC might be the prevailing answer to many issues.</p><div style="text-align: justify;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-18087886702780852802021-09-13T13:49:00.007+08:002021-09-13T14:21:01.160+08:00Tech in a Time of Pandemic and Political Turmoil<div class="separator" style="clear: both; text-align: left;"><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222; font-size: 15.4px;">This article first appeared in <a href="https://www.theedgemarkets.com/article/cover-story-tech-time-pandemic-and-political-turmoil" target="_blank">Digital Edge, The Edge Malaysia Weekly</a>, authored by Pathma Subramaniam.</span></div><div class="separator" style="clear: both; text-align: left;"><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222; font-size: 15.4px;"><br /></span></div><div class="separator" style="clear: both; text-align: left;"><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222; font-size: 15.4px;">Malaysia has undergone more political instability in the last decade than it did in the early days of its formation 58 years ago.<br /><br /></span></div><div class="separator" style="clear: both; text-align: left;"><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222; font-size: 15.4px;">The continuous arbitrary changes in government — following a contentious 2018 general election — has resulted in an increasingly fractious political process that has thrown the country into one upheaval too many, which have been compounded by the unceasing Covid-19 pandemic.</span></div><div class="separator" style="clear: both; text-align: left;"><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222; font-size: 15.4px;"><br /></span></div><div class="separator" style="clear: both; text-align: left;"><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222; font-size: 15.4px;">While political pundits see the situation as a sign of a maturing democracy, the political bloodletting has only exacerbated a weakened economy and resulted in a state lacking in direction.</span></div><span face="Arial, Tahoma, Helvetica, FreeSans, sans-serif" style="color: #222222;"><br /><span style="font-size: 15.4px;"><br /></span></span><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-FKfwF8o0GNI/YT7qTyiVlpI/AAAAAAAA3zQ/O--kuX_AjIIEivZ2olUAkameC5RTKvbbwCLcBGAsYHQ/s900/IMG_20210912_091119.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="thumbnail of news "Tech in a time of pandemic and political turmoil"" border="0" data-original-height="656" data-original-width="900" height="291" src="https://1.bp.blogspot.com/-FKfwF8o0GNI/YT7qTyiVlpI/AAAAAAAA3zQ/O--kuX_AjIIEivZ2olUAkameC5RTKvbbwCLcBGAsYHQ/w400-h291/IMG_20210912_091119.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p style="text-align: justify;"><span style="color: #222222;"><span style="font-size: 15.4px;">And here is where technology can come in to save the day. Law Tien Soon, Chief Operating Officer at Innov8tif Solutions Sdn Bhd, an artificial intelligence (AI) solutions provider, points out that public services can be effectively carried out during a time of political turmoil — such as this — using the right technology.</span></span></p><p style="text-align: justify;">“Fortunately for Malaysia, there is a convention of caretaker governments practised in the absence of a Cabinet, unlike the government shutdown in the US where federally run operations were halted [between December 2018 and January 2019],” he says.</p><p style="text-align: justify;">“Thus, it is not so much a concern of maintaining functions at status quo by a caretaker government, but the integrity aspect of mandatory spending on essential functions could be improved with the help of technology, especially during times of crisis.”</p><p style="text-align: justify;">For years, the adoption of technology in public service has been focused on adding processes to an existing system without looking at streamlining and eliminating redundancy and questioning the relevance of an existing activity, Law points out. “Former prime minister Tun Dr Mahathir Mohamad in 2019 said, ‘If a person wants to run a tourism project in Langkawi, he has to seek permits from close to 20 departments.’”</p><p style="text-align: justify;">Meaning to say digital transformation does not necessarily have to involve the latest technology. It merely has to streamline existing processes and make everything more efficient and convenient.</p><p style="text-align: justify;">“Many government agencies have embarked on system modernisation programmes for business processes. However, these programmes have often stopped at digitisation — where traditional paper forms are converted into online forms for data processing and storage in a database-driven system,” says Law.</p><blockquote><p style="text-align: justify;">“Larger opportunities remain to be unearthed [such as] the reengineering and optimisation of business processes. When an electronic form can be enforced with mandatory validators to ensure that sufficient information is provided in the expected format before submission, what is the relevance of keeping the ‘checker’ role in a process?</p></blockquote><p style="text-align: justify;">“There must be 20% of mundane and common [regulations], which can be effectively automated to yield 80% of outcomes. So, shouldn’t there be an irrelevance of traditional approval activities by appointed officers for most of the applications received by an agency?”</p><p style="text-align: justify;"><a href="https://www.theedgemarkets.com/article/cover-story-tech-time-pandemic-and-political-turmoil" target="_blank">Click here to continue reading the full article</a></p>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-26229252135964340582021-08-09T09:23:00.001+08:002021-08-09T09:23:44.550+08:00How can Biometric System Further Optimise the Healthcare Sector?<p>A new era of individualised technology has arrived. Biometric technology has recently been hailed as the way of the future in healthcare. Improved patient’s privacy, enhanced security for patients and staff, as well as a reduction in the risk of clerical mistakes and system vulnerabilities, are just a few instances of how biometric system can benefit the industry.</p><p>We have grown accustomed to unlocking our phones with our fingerprints and faces. We can even use speech recognition to unlock our cars. Biometric technology is a sort of identification and identity authentication technology that has important ramifications in the healthcare industry. </p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-G-dtW8l0acI/YRCDOkX8NDI/AAAAAAAABsM/TBaBjPFjtR8Ry23NNeC6mv7ZifRJeR_2gCLcBGAsYHQ/s800/healthcare.jpg" style="margin-left: auto; margin-right: auto;"><img alt="healtcare" border="0" data-original-height="600" data-original-width="800" height="300" src="https://1.bp.blogspot.com/-G-dtW8l0acI/YRCDOkX8NDI/AAAAAAAABsM/TBaBjPFjtR8Ry23NNeC6mv7ZifRJeR_2gCLcBGAsYHQ/w400-h300/healthcare.jpg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><a href="https://www.pexels.com/photo/woman-in-blue-shirt-wearing-face-mask-3881247/" rel="nofollow" target="_blank">Photo by Andrea Piacquadio from Pexels</a></td></tr></tbody></table><br /><p>Here are a few aspects of the healthcare sector that biometric technology is currently unearthing opportunities for improvement.</p><h3 style="text-align: left;">1. Biometric System Helps Negate Healthcare Fraud</h3><p>Impersonation is when someone pretends to be another person, and it can happen in universal healthcare and social health insurance programmes. <a href="https://www.channelnewsasia.com/asia/ghost-patients-scammers-haunt-philippine-health-system-1327086" target="_blank">According to news report dated Sep 2019</a>, dead patients undergoing kidney dialysis, ghost patients getting cancer treatments and fake members are just some of the fraudulent schemes that led to at least P154 billion (US$2.94 billion) losses in Philippines state-health insurer. </p><p>While no system is perfect, combination of contactless biometrics techniques such as face biometric authentication and voiceprint verification can produce a very stringent patient record verification system that achieves error rate only in the range of less-than-one-in-a-million. </p><p>Face recognition system can be degraded by ageing effect, voiceprint verification can be rendered ineffective for unconscious patients, and fingerprint recognition can be worsened by worn-out or cut fingerprints, but it is unlikely that several unimodal systems will suffer from identical limitations. </p><p>Individuals attempting to impersonate other patients can be declined fraudulent attempt with biometric authentication. This will also ensure that caregivers are working with the correct medical history and demographic data.</p><h3 style="text-align: left;">2. Biometric System Helps Prevent Unauthorised Access to Restricted Areas</h3><p>Certain parts of a hospital are frequently restricted, with access provided only to authorised or privileged medical personnel via a key card. Unfortunately, if these key cards are forgotten or stolen, they can lead to serious security breaches with life-threatening repercussions. </p><p>Biometrics are great in these instances as the step-up measures for stringent access control to these restricted places. If there is any instance of malpractice in the building, combination of CCTV and biometric access records can present tremendous help in investigation.<span></span></p><a name='more'></a><p></p><h3 style="text-align: left;">3. Biometric System Secures Access to Electronic Health Record by Patients</h3><p>An electronic health record (EHR) is a digital version of a patient’s paper chart. EHRs are real-time, patient-centered records that make information available instantly and securely to authorised users. There have been talks about digital transformation in EHR aiming to achieve patient-oriented objectives, such as a secure access to personal EHR by patient from anywhere connected by Internet. Undoubtedly, this opens up concerns on data privacy, when access control is not securely managed. By embracing multi-factor authentication using biometric system, a patient’s identity can be stringently authenticated. </p><h3 style="text-align: left;">4. Biometric System Improves Customer Experience</h3><p>Online booking for medical appointment is now a norm. And patients are required to present proof of identity upon turning up for appointment. Wouldn’t it be better if, upon patient’s opt-in consent, recognised photo ID is submitted during online appointment booking, and the appointment can simply be contactless-ly confirmed using face biometric verification when patient turns up for his/her appointment. </p><p>This will cut down the waiting time at registration counter and improve the protection of patient’s personal data privacy when there are less events taking place in the exchange of physical identification document between a party to another.</p><h3 style="text-align: left;">5. Biometric System Reduces Mundane Administrative Tasks</h3><p>Continuation from the customer journey described above, paper registration forms will be things of the past. With this streamlined patient identification, consolidating millions of health records, diagnosis, tests, prescriptions, and treatments could be easier than ever before — with no misidentifications or patient record overlaps. This helps caregivers in quickly accessing the records they require, saving time and money, eliminating clerical errors, and considerably decreasing the mental load on care providers from mundane tasks.</p><p>Biometrics is quickly growing in prominence across many verticals and industries, with healthcare being a major sector to benefit from this technology. Identification and authentication needs, physical safety and security, as well as convenience and efficiency are all qualities that tremendously improve with the application of biometrics, and we can expect to see this trend continue to make waves around the world.</p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-91978800027840623562021-07-21T07:18:00.003+08:002021-07-21T15:53:42.380+08:00Electronic KYC in ESG<p>Investors are increasingly applying Environmental, Social, and Corporate Governance (ESG) data – the non-financial metrics, as part of their analysis process to identify material risk and growth opportunities. Vincent Triesschijn, Director of Sustainable Investing at ABN AMRO, highlighted the significance and growth potential of ESG driven investing <a href="https://www-pr1.abnamro.com/en/news/what-impact-does-impact-investing-actually-have" target="_blank">in an interview</a>: “We’re seeing that investing according to ESG criteria is becoming more and more popular. Worldwide, sustainable investments have reached record amounts. ABN AMRO is currently managing 20 billion euros’ worth of client assets in sustainable investments, of which 1 billion euros in impact investments. We’re incredibly proud that the new Impact Equity Fund has already raised 200 million euros.” </p><p>Sustainable investing has grown in popularity thanks to a shift in investing methodology preference driven by the millennial generation. The earliest batch of millennials (born in early 1980s) are already in their late 30s by now – the prime investing years. This investment discipline shift will gradually <a href="https://www.cnbc.com/2021/05/21/millennials-spurred-growth-in-esg-investing-now-all-ages-are-on-board.html" target="_blank">influence all other generations</a> when the interest is becoming mainstream. Sustainable funds are growing, with the total asset size globally just shy of US$2 trillion. The bulk of these funds are in Europe (US$1.63 trillion).</p><p>Even the banks and financial institutions, are increasingly allocating a higher weightage to sustainability metrics as part of financial loan approval.</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-MvBbUZDG9ec/YPZpGxVAw1I/AAAAAAAA2_M/Zi3z4c9E6SQSTPlSmFfzW9LTETDE0y7bgCLcBGAsYHQ/s900/sustainability.jpg" style="margin-left: auto; margin-right: auto;"><img alt="Image by Gerd Altmann from Pixabay" border="0" data-original-height="599" data-original-width="900" height="266" src="https://1.bp.blogspot.com/-MvBbUZDG9ec/YPZpGxVAw1I/AAAAAAAA2_M/Zi3z4c9E6SQSTPlSmFfzW9LTETDE0y7bgCLcBGAsYHQ/w400-h266/sustainability.jpg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><i>Image by <a href="https://pixabay.com/illustrations/sustainability-energy-tree-3295757/" target="_blank">Gerd Altmann</a> from Pixabay</i></td></tr></tbody></table><p><br /></p><h3 style="text-align: left;">eKYC for Positive Environmental Impact</h3><p>Microsoft set a bold goal and detailed plan to be carbon negative by 2030, and even to remove historical carbon emissions by 2050. </p><p>Even in current times when physical movement is facing disruptions, many businesses are still primarily relying on physical customer servicing touchpoints in business and sales operations. This is a significant source of carbon footprints. Based on a survey done by Michael Page, the average commuting time between home and work, in Kuala Lumpur, <a href="https://www.michaelpage.com.my/content/how-long-is-your-commute-to-work/" target="_blank">is 44 minutes</a>. Deriving inspiration from <a href="https://www.nrdc.org/onearth/speed-sweet-spot" target="_blank">research done by NRDC</a>, 1 minute on the road and assuming at ideal traffic (55mph), average carbon dioxide emissions is 291 grams/minute/car. In Kuala Lumpur alone, even if we are assuming a very low traffic volume of 100,000 cars on the road each day, the carbon dioxide emissions would reach 1,280 tonnes per day! Using the same analogy, you can derive the carbon footprints produced by your business, for all the branches nationwide, contributed by your staff and customers each day.</p><p>Outdoor air pollution was estimated to have caused 4.2 million premature deaths worldwide in 2016, and the highest concentrations of air pollution are in Asia.<span></span></p><a name='more'></a><p></p><p>Accelerated by the recent pandemic, banks worldwide are increasingly transforming transactional services to online self-service channels and reserving the reduced operating hours and branches for more sophisticated transactions, especially the corporate-related services. Customer onboarding and account opening can be automated digitally and remotely using eKYC, which is becoming a new normal for businesses. Directly, the carbon footprint is reduced from:</p><p></p><ul style="text-align: left;"><li>Hybrid working arrangements for staff.</li><li>Reduction in needs for face-to-face consumer-facing services.</li><li>Reduction in electricity consumption.</li></ul><p></p><h3 style="text-align: left;">eKYC for Positive Social Impact</h3><p>In September 2015, the General Assembly adopted the 2030 Agenda for Sustainable Development that includes 17 <a href="https://sdgs.un.org/goals" target="_blank">Sustainable Development Goals (SDGs)</a>. The tenth goal – “reduced inequalities”, and the eleventh goal – “sustainable cities and communities”, are putting a focal point on social inclusiveness. Access to new and innovative products at lower cost should not be limited to urban folks. eKYC technology helps organisations to widen outreach of customer servicing touch points without restriction from physical locations or branches. eKYC enabled online transaction reduces customer onboarding cost, which leads to business’ ability to offer more creative products and services at competitive fees. To the consumers, we are benefitting from easier accessibility to choices. Imagine, if robo-advisory investment products were operating on branch-based operations, would this innovative investment option be easily accessible to consumers who are not residing in cities? And, even when a mobile network operator was to offer the most attractive mobile plan, could it be easily rolled out to all consumers across vast geography? Let us imagine the places of archipelago. When economic development is less constrained by accessibility to urban resources and facilities, it helps satellite cities to flourish and thrive, and eases the upsetting trend of urban poor population. </p><h3 style="text-align: left;">eKYC for Improved Governance</h3><p>Stringent compliance to know-your-customer (KYC) rules is no longer just a requirement of BFSI (banking, financial services, and insurance) industries. With mobile cellular number becoming part of a person’s identity and a form of identity verification, losing sight of end-user registration can result in increasing online scams (using mobile cellular number registered to fraudulent identity), breach of anti-money laundering (AML) regulations, and even a compromised banking account. </p><p>To businesses, automation of identity proofing and digitalisation of customer due diligence using eKYC technologies can help to improve compliance with regulatory requirements and avoid penalties from authorities. To the extreme extend, regulatory requirement breach can even cost a business in suspension or loss of operating license. </p><p>The contentious handling of migrant labour issues in some countries relying on export manufacturing is a long-standing problem. Various reports have highlighted that the entrenched presence of middlemen in the labour recruitment system is the main obstacle preventing the reform of migrant labour management. Given political will to support underlying reform, eKYC can provide the necessary ID proofing and due diligence support in an online recruitment process, for businesses to directly recruit foreign workers from the source countries. When the entire process is transparently documented and traceable for wellbeing of labour-import according to recommended practices, it prevents unnecessary business disruption that could be resulted from sanctions by foreign customs. </p><p>Good governance is doing the right things even when no one is watching.</p>Tiensoonhttp://www.blogger.com/profile/07124788456473556641noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-10541487517465189772021-07-14T17:30:00.006+08:002021-07-14T17:31:16.434+08:00Post Pandemic World: The Utilisation of Facial Biometrics in The Travel Industry<p>The recent pandemic is already transforming the way we travel and is showing to be an evolutionary catalyst for numerous sectors. Multiple touchpoints that formerly resulted in long queues of passengers are being phased out in favor of touch-less and self-service options. </p><h3 style="text-align: left;">Restoring Confidence in Air Travel</h3><p>Airlines and airports throughout the world are deploying technology that allows passengers to check-in using facial recognition, allowing them to pass through many touchpoints in the airport without having to touch anything. Instead of transferring documents back and forth, passengers can use self-service biometric verification to assist in baggage check-in, security check-point clearance, business lounge access, and boarding.</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-k1rU-RhF-eI/YO6uiOJDHRI/AAAAAAAABow/Xuru4JjPW4Q7xoh5R5T6Rp6xevWx_xpswCLcBGAsYHQ/s960/pexels-anna-shvets-3943881.jpg" style="margin-left: auto; margin-right: auto;"><img alt="Photo by Anna Shvets from Pexels" border="0" data-original-height="640" data-original-width="960" height="266" src="https://1.bp.blogspot.com/-k1rU-RhF-eI/YO6uiOJDHRI/AAAAAAAABow/Xuru4JjPW4Q7xoh5R5T6Rp6xevWx_xpswCLcBGAsYHQ/w400-h266/pexels-anna-shvets-3943881.jpg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Photo by Anna Shvets from <a href="https://www.pexels.com/photo/woman-wearing-face-mask-3943881/?utm_content=attributionCopyText&utm_medium=referral&utm_source=pexels" rel="nofollow" target="_blank">Pexels</a></td></tr></tbody></table><br /><p>Face recognition is natural and crosses language barriers; most people know how to capture a selfie, so looking at a screen for a snapshot is easily accomplished. The pair of selfie photo and ID photo are compared by algorithm, and a match/no-match is concluded, following by the display of a red or green indicator light — a universal indication for a person to stop or go. </p><p>To further promote touch-less consumer experience and safeguard personal data privacy, biometric authentication technology can be embraced at travel retail point-of-sales, and for in-flight purchases. Detection of elevated body temperature (EBT), auto-recognition of passenger’s flight number at duty free retailers without unnecessarily revealing travel document identification details, and not forgetting – the cashless payment. Spearheaded by market demand, face recognition algorithm has also been developed to a maturity that reliably recognises a face even when a mask is worn. Integration of various major technologies into a smooth process is the key to success. A new world means that contactless customer onboarding in every step of travel is now the new norm.<span></span></p><a name='more'></a><p></p><h3 style="text-align: left;">Hotel Industry</h3><p>Even before the pandemic, queuing up at hotel check-in counter is not exactly the experience that travellers are appreciating. Self-check-in from smartphone prior to arrival, and an automated face verification at hotel’s guest reception, can reduce unnecessary queuing time while digitising hotel’s compliance to national security and taxation requirements. Contactless registration is a win-win for the hotel industry. It maintains an outlook of professionalism while also helping to keep staff and guests safe.</p><p>Still handing out physical breakfast voucher during check-in? That is unnecessary when a QR code scanning using hotel guest’s companion mobile app can achieve the same objective more effectively. </p><p>In all these use cases described above, biometric technology paves the way to a more seamless customer experience. The travel industry is set to bounce back from the low tide, and when this happens we can expect to see a flurry of improvements in the overall infrastructure.</p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-87892427689696635912021-07-11T15:53:00.006+08:002021-11-29T20:40:30.510+08:00Being Able to Give is a Blessing<p>Thanks to <a href="https://www.facebook.com/yewken.chia" target="_blank">Ken Chia</a> the Councillor of Subang Jaya City Council (MBSJ) Zone 1 and his team, for providing assistance to help Innov8tif reach out to needy community affected by pandemic lockdown.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-GAbnyt4SzJE/YOqg4_PKcXI/AAAAAAAABn0/4-WLxMviK242k3wP4i-a-BEKOf84sR5ugCLcBGAsYHQ/s1002/Ken%2BChia%2BMBSJ%2BZone%2B1%2B-%2BInnov8tif%2Bhanding%2Bout%2Bgrocery%2Bvoucher%2Bto%2Bbe%2Bdistributed%2Bto%2Bneedy.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1002" data-original-width="842" height="400" src="https://1.bp.blogspot.com/-GAbnyt4SzJE/YOqg4_PKcXI/AAAAAAAABn0/4-WLxMviK242k3wP4i-a-BEKOf84sR5ugCLcBGAsYHQ/w336-h400/Ken%2BChia%2BMBSJ%2BZone%2B1%2B-%2BInnov8tif%2Bhanding%2Bout%2Bgrocery%2Bvoucher%2Bto%2Bbe%2Bdistributed%2Bto%2Bneedy.png" width="336" /></a></div><br /><p>“In times like this, people just need a little help to get through it. Our grocery vouchers are aimed to be distributed to communities who suffer an income loss. We are blessed that Innov8tif team members are all healthy and the company is still able to operate its services. Let's do our part together, and help each other during challenging times,” says George Lee CEO of Innov8tif.</p><p>A total of 200 families each received a food and grocery voucher sponsored by Innov8tif, distributed from three different locations in Subang Jaya SS13 and SS19. May these individuals and families be given the strength to ride through challenging time.<span></span></p><a name='more'></a><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-V8iL9dD9zHc/YOqjCf0AG7I/AAAAAAAABoA/m8P7-v_rsfYs_DrpMg4nBxYt4fhifsm-gCLcBGAsYHQ/s844/173508143_4213865158705903_4145020927479453107_n.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="630" data-original-width="844" src="https://1.bp.blogspot.com/-V8iL9dD9zHc/YOqjCf0AG7I/AAAAAAAABoA/m8P7-v_rsfYs_DrpMg4nBxYt4fhifsm-gCLcBGAsYHQ/s320/173508143_4213865158705903_4145020927479453107_n.jpg" width="320" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-g5bN6dawJrU/YOqjCZMRVdI/AAAAAAAABn8/ruM69Q4m33AdPexkTpFhcdxAPSESuB-hACLcBGAsYHQ/s844/213599493_4213859972039755_5763354362683696294_n.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="630" data-original-width="844" src="https://1.bp.blogspot.com/-g5bN6dawJrU/YOqjCZMRVdI/AAAAAAAABn8/ruM69Q4m33AdPexkTpFhcdxAPSESuB-hACLcBGAsYHQ/s320/213599493_4213859972039755_5763354362683696294_n.jpg" width="320" /></a></div><p>This is our <a href="https://blog.innov8tif.com/2020/05/giving-back-to-our-local-community.html" target="_blank">second time</a> in doing a small contribution to the local community where our HQ is based.</p><p>Meanwhile, it is notable to mention some great initiatives by other Malaysian tech companies, which you can play a role to create a bigger impact:</p><p></p><ul style="text-align: left;"><li><a href="https://www.foodbank.digital/" target="_blank">FoodBank.digital</a>, an initiative by Exabytes and EasyParcel aims to help Malaysian families in need by providing food supplies.</li><li><a href="https://kitajaga.co/" target="_blank">kitajaga.co</a>, an initiative by Terato Tech to help the public seek or provide aid.</li></ul><p></p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0Subang Jaya, Selangor, Malaysia3.0567333 101.5851192-25.253500536178844 66.4288692 31.366967136178847 136.7413692tag:blogger.com,1999:blog-2793972459548293202.post-44907175441334730942021-07-03T15:43:00.002+08:002021-07-03T16:50:56.871+08:00Post-Pandemic Boom: Tapping the “Conserved” Consumer Spending via Digital Services<p style="text-align: justify;">According to global economists, such as Jan Hatzius, Goldman’s chief economist, the post-pandemic recovery will see a very high growth rate. Subsequently triggers game-changing events with far and long-term change in digital landscape, especially in digital/cyber security. </p><p style="text-align: justify;">During the pandemic lock-down, a huge lifestyle strain falls onto every citizen around the world, forcing a slew of adjustments in how we live and work. However, as the outbreak has progressed, such strain has gradually turned into a new behaviour bias more towards digital lifestyle. The most lasting consequence may be invisible: the marking of individuals coming of age during the pandemic era, similar to how the Great Depression and World War II marked their generations, with wide but difficult-to-predict impacts that may affect society for decades to come.</p><p style="text-align: justify;">Over the past year, the one thing we have learned about COVID-19 is that for every two strides forward, there will be one step back, sometimes two, and occasionally three. Here are some developments, challenges and predictions that might be seen on the <a href="https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever">digital</a>, business and commercial fronts in the coming years.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-SGooktAM3t8/YOAUqlhLugI/AAAAAAAABlg/Z7fVjP6BBgwCzKlkcPibfcOoBsmu7R8iQCLcBGAsYHQ/s1000/pandemic.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="666" data-original-width="1000" height="266" src="https://1.bp.blogspot.com/-SGooktAM3t8/YOAUqlhLugI/AAAAAAAABlg/Z7fVjP6BBgwCzKlkcPibfcOoBsmu7R8iQCLcBGAsYHQ/w400-h266/pandemic.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><h3 style="text-align: justify;">Seasoned Digital Behaviour + Spending Power Surge = Fast Tracking Recovery</h3><p style="text-align: justify;"><b>Digital Behaviour: </b>During the lockdown and social distancing period, entire populations relied on online methods to replace offline necessities. Now, digital behaviors have surfaced to the top of everyday life, and as people become more familiar and comfortable with the accessibility and convenience of doing things online - whether it be shopping, paying bills or signing up for new services. The digital behaviors built during the pandemic will hold and sustain as a new way moving forward.<span></span></p><a name='more'></a><p></p><p style="text-align: justify;"><b>Spending Power: </b>The ongoing pandemic has caused varying chain reactions observed in many income groups across the board. The middle to upper income groups have taken up cash conservation practices during the pandemic, which in turn leads to higher levels of cash spending by consumers, post-pandemic. Businesses will need to focus or rebuild the marketing stack to be part of contextually relevant digital customer ecosystems to acquire a new pool of “seasoned” digital users. Consequently, encouraging businesses to provide supplementary digital services, on top of their core products/services, depending on their customer base preference and behaviour.</p><p style="text-align: justify;">As an example, in post-pandemic recovery, a pharmacy may offer a quick and easy medical insurance sign-up at the checkout counter to its customer base. Insurance underwriters would be able to capture customer buying patterns and demographic insights from the pharmacy to optimize the pricing, in real time. In short, digitally onboarding new customers for its partners in their digital ecosystem.</p><h3 style="text-align: justify;">Digital Onboarding Will Accelerate Digital Services</h3><p style="text-align: justify;">As the depth of digital services grows, it is inevitable that personal information will be required to render digital services efficiently and and seamlessly. Fundamentally, the customer onboarding journey creates the first perception of customers towards brands’ thought process and focus on its customer. Adoption of Electronic Know-Your-Customer (eKYC) capabilities supports brands to deliver the digital onboarding journey that is seamless and quick.</p><p style="text-align: justify;">eKYC is a set of processes of identifying and verifying unique customers, using AI and deep learning algorithms, that complies with privacy acts and regulatory needs.</p>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-65119402307584206162021-06-28T10:00:00.002+08:002021-06-28T10:00:00.177+08:00Innov8tif Granted Patent for AI Technology to Verify Authenticity of a Malaysian Identity Document<h3 style="text-align: left;">The patent (patent no. MY-184165-A) is granted to Innov8tif by Intellectual Property Corporation of Malaysia (MyIPO).</h3><p>Kuala Lumpur, Malaysia, 28 June 2021 — MyIPO has granted Innov8tif Solutions Sdn. Bhd. (Innov8tif) a patent for its method of verifying the authenticity of a Malaysian identity document using computer vision algorithm known as microprint detection technique.</p><p>Microprint is a security feature found in Malaysian identity card (IC), various government issued identity documents around the world, and banknotes. Microprint detection technique is a key feature in Innov8tif’s <a href="https://innov8tif.com/products/customer-onboarding-ekyc/id-doc-authentication/" target="_blank">EMAS OkayDoc</a> product – part of the company’s EMAS eKYC suite, to effectively determine if an image of identity document was captured from genuine IC or a colour-printed copy. This is achieved by analysing the quality of microprint extracted from a document image; there are subtle differences between an original pattern versus a copy. </p><p>This patented technology has already been successfully commercialised to support online and automated verification of customer’s identity for account registration and product application use cases ranging from telecommunication industry to FinTech, InsurTech, WealthTech, PropTech and LawTech. Identity proofing is part of customer due diligence requirements in regulations surrounding KYC (know-your-customer) compliance. In 2020, Innov8tif supported 3.5 million online identity verification transactions.</p><blockquote><p>“There isn’t just one algorithm for document authentication. In fact, Innov8tif has more than ten methods to complete the document authentication process of an identity document. Microprint authentication is one of them, and as we have discovered a unique method to accomplish the automation of this work for ‘physical-document-not-present’ scenario, there was a motivation for us to protect our intellectual property rights through filing of such invention for patent grant application,” said Tiensoon Law, Innov8tif’s Chief Operating Officer.</p></blockquote><blockquote><p>“The patented microprint detection algorithm helps in mitigating non-conformance of document, especially the colour copy. This milestone proofs Innov8tif’s long-term commitment in the development of digital identity verification business, and it is an assurance to our customers that Innov8tif is the rightful intellectual property owner of such technology.”</p></blockquote><p>Accelerated by evolving customer interfacing landscape to digital touch point and low-touch channel, EMAS eKYC innovations have benefited from the timely market demand. Innov8tif continues its regional expansion activities by sharing its domain-specific experience with innovative businesses riding on transformative business models and delivery channels.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-yaiNeciiuRg/YNU_-ANdXnI/AAAAAAAABkg/Rqj_o9Cm5BspabYF6ZRXZSbNCFVYDNqEgCLcBGAsYHQ/s1920/Innov8tif%2BEMAS%2BOkayDoc%2BFeatures%2B-%2Billustration.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Innov8tif EMAS OkayDoc document authentication" border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://1.bp.blogspot.com/-yaiNeciiuRg/YNU_-ANdXnI/AAAAAAAABkg/Rqj_o9Cm5BspabYF6ZRXZSbNCFVYDNqEgCLcBGAsYHQ/w400-h225/Innov8tif%2BEMAS%2BOkayDoc%2BFeatures%2B-%2Billustration.png" width="400" /></a></div><p><br /></p><h4 style="text-align: left;">About Innov8tif Solutions Sdn. Bhd.</h4><p>Innov8tif (pronounced "innovative") is an ISO 27001:2013 certified AI company helping businesses to widen sales funnel, speed-up processes without paper and prevent frauds. Innov8tif's EMAS eKYC product enables businesses with digital ID verification capability to support online customer onboarding process and identity fraud management. In 2019, EMAS eKYC was accorded one of the two Merit awards for B2B Fintech category at International APICTA (Asia Pacific ICT Alliance) Awards among 16 participating economies.</p><h4 style="text-align: left;">Contact</h4><p>Media Relations – marketing@innov8tif.com</p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-42671572628758598752021-06-24T14:31:00.003+08:002021-06-27T14:35:10.245+08:00Driving AI Studies<p>This article was published in The Star newspaper on 24th June 2021.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-JtLgcAqGv3A/YNgb8Q2hoWI/AAAAAAAABlA/ynwnjEvKZtMcUDwp-CPtlRPcrU0klM-KQCLcBGAsYHQ/s1994/20210624_N60_STR_SHE_6_FC_DRIVING_AI_STUDIES.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1381" data-original-width="1994" height="278" src="https://1.bp.blogspot.com/-JtLgcAqGv3A/YNgb8Q2hoWI/AAAAAAAABlA/ynwnjEvKZtMcUDwp-CPtlRPcrU0klM-KQCLcBGAsYHQ/w400-h278/20210624_N60_STR_SHE_6_FC_DRIVING_AI_STUDIES.jpeg" width="400" /></a></div><br /><p><br /></p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-55162647721383478822021-06-22T16:13:00.002+08:002021-06-25T10:27:25.749+08:00 6 Ways AI is Fighting Back against Identity Theft and Fraud<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-3ZpZgolz1bo/YNGbGfHNOXI/AAAAAAAAFkk/_d7gTvx45FwE_zqFmsX4YJNw3WUC2i2-wCLcBGAsYHQ/s2048/AdobeStock_265571374.jpeg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1365" data-original-width="2048" src="https://1.bp.blogspot.com/-3ZpZgolz1bo/YNGbGfHNOXI/AAAAAAAAFkk/_d7gTvx45FwE_zqFmsX4YJNw3WUC2i2-wCLcBGAsYHQ/s320/AdobeStock_265571374.jpeg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Image source: Adobe Stock</td></tr></tbody></table><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><a href="https://www.utica.edu/academic/institutes/cimip/idcrimes/schemes.cfm" target="_blank">Identity theft</a> is still a serious issue today. Admittedly, the rise of contemporary technology and the myriad advancements it has brought to the table have probably made the situation much worse as thieves no longer require physical access to your data to commit fraud. They can often do a lot of damage by jeopardizing your identity and working from afar, and they can accomplish most of it without even speaking to you.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">However, technology has been employed to tackle this problem, and we are witnessing some significant successful improvements in this area, particularly from credit card firms and other market players. <a href="https://www.europarl.europa.eu/RegData/etudes/BRIE/2019/637967/EPRS_BRI(2019)637967_EN.pdf" target="_blank">Artificial Intelligence</a> has been at the forefront of some of the most significant recent events, and anybody concerned about their security should keep an eye on that field. Those working in the financial sector in any capacity, of course, have an even greater motivation to take note of how things function.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">AI has shown to be an excellent tool for assisting human operators in this regard and ensuring that their jobs are completed correctly and according to all requirements. It may even be able to completely replace the task of a human operator in some cases, but this is still a work in progress. </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Here are a few ways AI helps to reinforce measures against identity theft:</div><div style="text-align: justify;"> </div><div style="text-align: justify;"> </div><h4 style="text-align: justify;">1. Decrease False Acceptance </h4><div style="text-align: justify;"><br /></div><div style="text-align: justify;">If your fraud detection tools are not sensitive enough, you risk turning away legitimate clients. This is the basis behind false rejection. Installing a system that provides focused and relevant monitoring is critical. Since criminal tactics are constantly changing, security systems must adapt as well. This allows you to stay one step ahead of the bad guys.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">False rejection, which essentially describes results wrongly indicating certain conditions or attributes to be present within a system, have plagued various tech-related industries for some time now. Financial institutions and e-commerce platforms often experience transactions being wrongly flagged as suspicious or legitimate consumers being incorrectly identified as suspicious parties. On the other hand, false acceptance also mean that fraudsters get past security measures and cause damage. The key is in the intelligence of the technology applied to accurately identify and distinguish legitimate users or cyber criminals.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Rule-based fraud detection is not enough, which is why machine learning has pushed the effectiveness of reducing false positives. Machine learning relies on intricate mathematical models from base data and algorithms to make precise predictions, as opposed to being programmed to perform specific tasks. There's flexibility involved, where systems learn from data instead of carrying out mindless commands. This technology can be used to identify fraudulent and legitimate behaviour. </div><div style="text-align: justify;"> </div><div style="text-align: justify;"> </div><h4 style="text-align: justify;">2. To Stop Account Opening Fraud</h4><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Considering account opening fraud is frequently linked to data breaches at other banks or FinTechs, banks that do not quite have the necessary data to distinguish fraudulent consumers can make it difficult to distinguish the situation. As most of the data are recorded in the traditional way (mostly on paper), this is where AI and machine learning can help. Banks may utilize machine learning and Artificial Intelligence to better evaluate and understand client behaviour, giving them a more complete picture of how legitimate consumers behave. This strategy depends on algorithms to identify users based on accessible data, and the amount and type of data that financial institutions may collect for fraud prevention are important to the effectiveness of these systems.<span><a name='more'></a></span></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Such algorithms could also be used to better assess fraud risk before a customer's application is approved or rejected. These techniques are frequently combined with eyeballing by banks, who perform final checks on potential users who have been marked as high risk. These solutions can give banks and clients advantages such as speed and convenience. Users are frequently unaware of these identification checks, which eliminate the need for them to supply more information and reduce the time it takes to authenticate new accounts.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">An example of such algorithms used is related to biometric security. Biometric security, formerly a piece of science fiction, is now an industry standard for helping ensure that possible fraudsters are caught red-handed.</div><div style="text-align: justify;"> </div><div style="text-align: justify;"> </div><h4 style="text-align: justify;">3. Analyzing Telecom Networks </h4><div style="text-align: justify;"><br /></div><div style="text-align: justify;">In the telecommunication industry, Artificial Intelligence is generating tremendous growth. AI can quickly process and analyze large amounts of data to extract relevant information. Furthermore, AI and machine learning make it easier to create algorithms that can detect fraudulent network activity. Fintechs and mobile network providers complement each other as fintech brings rapid innovation and flexibility, while network operators provide a powerful access to market with their marketing and distribution capabilities that facilitate their partners deployments. Some Fintechs monitor user transaction data to detect fraud patterns. The more data they have, the more accurate their fraud detection engines. These algorithms figure out how to distinguish between normal and aberrant patterns. As a result, they can spot and examine anomalies that could indicate fraudulent activity.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><br /></div><h4 style="text-align: justify;">4. Improving Accuracy Over Time</h4><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Most AI systems rely heavily on data collecting and analysis. Thus, it is crucial to pay attention to the data that financial institutions provide to their analytical engines. With the appropriate method, the precision of the results might improve dramatically over time. However, this can only happen if the system has enough data to learn from. It is also critical to ensure that the data is accurate and current, as well as to remove any old data sets that could cause the analytical engine to become confused.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><br /></div><h4 style="text-align: justify;">5. Identifying Fraudulent Charges</h4><div style="text-align: justify;"><br /></div><div style="text-align: justify;">The concept of "anomalous transactions" (ATs) differs from that of conventional banking exchanges. This makes them difficult to spot. Remember that being different does not always imply that you are being deceived. Financial institutions, on the other hand, must safeguard against illicit activities such as money laundering. AI provides an improved approach for distinguishing between fake and real AT. When the AI identifies an AT, it sends the account owner a one-time password (OTP). This dynamic password is only good for one digital device login session.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><br /></div><h4 style="text-align: justify;">6. Protecting Air Passengers</h4><div style="text-align: justify;"><br /></div><div style="text-align: justify;">AI can give a more precise and effective process than humans can. AI-assisted identity verification for flying passengers can make the procedure go more smoothly. Passenger data is kept safe, and the systems can do verifications at a faster rate.</div><div style="text-align: justify;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-42395270670252596402021-05-31T23:26:00.000+08:002021-05-31T23:26:01.995+08:00The Authentication Experts<p>This article first appeared in <a href="https://www.nst.com.my/lifestyle/bots/2021/05/694641/tech-authentication-experts" target="_blank">New Straits Times</a>, authored by Nur Zarina Othman.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-HnlQ4FYvS6k/YLT_-L19dxI/AAAAAAAABjo/bYDE4KmeoKwxaUX14HyhgOMHhUH0BSbIgCLcBGAsYHQ/s960/innov8tif%2Bemas%2Bekyc%2Bokaydoc.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="300" src="https://1.bp.blogspot.com/-HnlQ4FYvS6k/YLT_-L19dxI/AAAAAAAABjo/bYDE4KmeoKwxaUX14HyhgOMHhUH0BSbIgCLcBGAsYHQ/w400-h300/innov8tif%2Bemas%2Bekyc%2Bokaydoc.jpg" width="400" /></a></div><br /><p>Homegrown software company, Innov8tif, is doing its part in the nation's digitalisation agenda with a solution to identity fraud</p><p>FOUNDED by a group of Malaysians with backgrounds in business development, software engineering and corporate finance, Innov8tif is a technology company with a goal to realise the nation's digitalisation roadmap.</p><p>This Subang Jaya-based tech company is the producer and host of an artificial intelligence (AI)-based identity verification solution, which operates on its own integrated mobile platform known as EMAS that provides eKYC (electronic know-your-customer) solutions.</p><h3 style="text-align: left;">HOW IT STARTED</h3><p>At the beginning to mid-2010s, the evolution of customer service was driven towards opening mobile branches and bringing relationship managers closer to the customers' location.</p><p>Having an enterprise mobility platform to support mobile sales touchpoints, Innov8tif came up with the technology to authenticate MyKad using fingerprint verification, as well as to digitally recognise and extract information on identity documents.</p><p>This technology sped up the know-your-customer (KYC) process during face-to-face interactions, but then, customer preference started shifting to digital self-service channels, especially among millennials.</p><p>In a "document-not-present" environment, digital images of MyKad submitted by users or customers are becoming common. They are mainly taken using smartphone cameras, home scanners, digital cameras and sometimes, computer webcams.</p><p>Tapping into this trend, Innov8tif started to roll out an eKYC solution in 2017, which enables businesses to support real-time and remote customer onboarding from self-service applications.</p><p>According to Innov8tif chief operating officer Tiensoon Law, the eKYC solution is made possible by the maturity of deep learning-based facial recognition technology, where from the comfort of one's sofa, a proof-of-consent may be digitally confirmed by comparing a customer's identity photo with a selfie.</p><p>"Driven by an uptick in the interest in e-wallet and innovative financial services, we came across the need to support document authentication to offer eKYC solutions for 'document-not-present' scenarios, with the aim of preventing identity fraud.<br /></p><p>And this problem statement led to the birth of AI-based identity document authentication algorithms — collectively branded as EMAS OkayDoc," said Law.</p><p><a href="https://www.nst.com.my/lifestyle/bots/2021/05/694641/tech-authentication-experts" target="_blank">Click here to continue reading the full article</a></p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-12144217496120093532021-05-06T21:00:00.004+08:002021-05-17T16:12:02.951+08:00Innov8tif Launched New Applications on Joget Marketplace using EMAS™ eKYC to Offer AI-based Identity Verification<p style="text-align: justify;"><b>Kuala Lumpur,</b> Malaysia 6 May 2021 - Innov8tif Solutions Sdn. Bhd. (“Innov8tif”) has launched new applications on the Joget Marketplace to offer real-time and automated identity verification capabilities on <a href="https://www.joget.org/product/joget-dx/">Joget low-code/no-code ecosystem.</a></p><p style="text-align: justify;">Operated by Joget, Inc., the Joget Marketplace enables customers, partners and third-party innovators to easily leverage new applications, plugins and solutions to address their digital transformation needs. The two new applications published by Innov8tif are <a href="https://marketplace.joget.org/jw/web/userview/mp/mpp/_/vad?id=innov8tif_ekyc">EMAS™ eKYC</a> and <a href="https://marketplace.joget.org/jw/web/userview/mp/mpp/_/vad?id=innov8tif_okayface">EMAS™ OkayFace Approval. </a></p><p style="text-align: justify;">EMAS™ eKYC is an application that demonstrates customer registration use cases using <a href="https://innov8tif.com/solutions/digital-customer-onboarding-ekyc/">face biometric authentication technology</a> to strengthen the identity assurance aspect of a customer onboarding process. The identity document text recognition and facial biometric verification features are embracing the extensibility aspect of Joget’s plugin architecture, and these tools are designed to work in any process built on Joget platform, to support e-KYC (electronic know-your-customer).</p><p style="text-align: justify;">EMAS™ OkayFace Approval enhances approval workflow with <a href="https://innov8tif.com/solutions/mobile-biometric-authentication/">facial biometric authentication capability</a> to strengthen data control and achieve the nonrepudiation criteria required in a stringent approval process.<span></span></p><a name='more'></a><p></p><p style="text-align: justify;">With the launch of these two applications on Joget Marketplace, Innov8tif aims to help businesses and Joget’s partnership network in reducing the time of go-to-market for identity verification related use cases.</p><p style="text-align: justify;">“In the current landscape where a low-touch economy thrives and is expected to remain relevant in the long term, Innov8tif has been empowering many e-KYC processes with its suite of AI-based EMAS™ eKYC ID verification APIs to enable 24x7 and real-time customer onboarding under the purview of stringent regulatory requirements. Maturity in deep learning technology advancement has helped the RegTech industry to propel machine-assisted identity fraud management and customer due-diligence,” said George Lee, Chief Executive Officer of Innov8tif. </p><p style="text-align: justify;">George added that Joget plays a pivotal role in the decade-long journey of Innov8tif providing digitalization solutions in Southeast Asia. It is now timelier than ever for Innov8tif to further strengthen the partnership model with Joget, Inc. and Joget’s global partners through cross-technology collaboration.</p><p style="text-align: justify;">“Joget Marketplace provides a wide range of enterprise applications for users to download or use as a template and customize to suit their business needs. This ranges from healthcare apps for contact tracing to educational apps for training evaluation and workflow management apps for a remote workforce. We are delighted to work with partners like Innov8tif to showcase their expertise in the digital identity space,” said Raveesh Dewan, Chief Executive Office of Joget, Inc. “We see the Joget Marketplace as the solution marketplace for our customers. Our goal is to bring forward not just the power of our platform but also the power of our community so that our customers can easily discover ready-made, configurable solutions.” </p><p style="text-align: justify;">_______________________________________________________________________</p><div style="text-align: justify;"><div><b>About Joget, Inc.</b></div><div>Joget, Inc is the developer of the Joget open source no-code/low-code application platform. Joget empowers business users, non-coders or coders to create enterprise applications across industries and countries. With more than 200,000 downloads, 3,000 installations and 12,000 community users worldwide across various industries (including finance, manufacturing, IT, and more), Joget is a proven platform for a wide spectrum of organizations ranging from Fortune 500 companies to government agencies and small businesses.</div></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-74331832347446312492021-05-04T15:46:00.002+08:002021-05-17T16:13:04.292+08:00The Rise of e-KYC Trends among Non-Financial Digital Companies<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-0p6JqT6nxpQ/YJD6-uFhXDI/AAAAAAAAFik/HZfNECiRvPkYrJvbFF6B4EhWt1wt8TorACLcBGAsYHQ/s2048/pexels-ketut-subiyanto-4560134%2B%25281%2529.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1365" data-original-width="2048" src="https://1.bp.blogspot.com/-0p6JqT6nxpQ/YJD6-uFhXDI/AAAAAAAAFik/HZfNECiRvPkYrJvbFF6B4EhWt1wt8TorACLcBGAsYHQ/s320/pexels-ketut-subiyanto-4560134%2B%25281%2529.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Image source: Pexels</td></tr></tbody></table><p style="text-align: justify;"><br /></p><p style="text-align: justify;">According to a study by <a href="https://www.mckinsey.com/~/media/mckinsey/featured%20insights/innovation/the%20value%20of%20digital%20id%20for%20the%20global%20economy%20and%20society/mgi-digital-identification-a-key-to-inclusive-growth.ashx">McKinsey’s</a> recent report, allowing e-KYC could save businesses up to 90% on customer onboarding costs. Based on the same report, digital identity could enable 1.7 billion people who are currently unbanked to access financial services. Government agencies, especially the regulator, are being urged to release e-KYC guidelines for the wider financial services sector as Malaysia's population becomes more digital and e-KYC technology becomes more accessible.</p><p style="text-align: justify;">Given these factors, as well as the fact that Malaysia will be issuing digital banking licenses soon, e-KYC regulation for the entire industry is unavoidable and necessary. It is important to remember that Malaysia would not have to look far for resources; many countries have already implemented digital IDs and e-KYC. It will be more cost-effective and time-efficient to learn from them. Meanwhile, a leading Malaysian telecommunications company's Vertical Director for Banking, Financial Services, and Insurance acknowledged that Digital ID has numerous business benefits. For example, by reducing interactions to over-the-counter transactions, increasing efficiency, and allowing smooth and digitally-driven experiences for consumers, the technology can save time and money. Essentially, the digital automation of customer onboarding is a step into the future most, if not all companies have to take.</p><p style="text-align: justify;">Experts agree that e-KYC would become a critical process for banks to perform faster customer onboarding than the conventional over-the-counter method.</p><p style="text-align: justify;">However, handling digital ID fraud is a major concern. As a result, regulator and authority's guidance on e-KYC implementation guidelines with information security requirements are making it easier for the BFSI industry to execute this initiative successfully. Now that e-KYC has made its way towards the BFSI industry, the trend also rises among non-financial digital companies. </p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">Property Technology (PropTech)</h4><p style="text-align: justify;">The rise of Property Technology, often referred to as PropTech across the globe represents the combined result of the real-estate, Internet-of-Things (IoT), finance and technological industries. Innov8tif started serving the PropTech industry for the first time since 2020. Prior to this, Innov8tif’s services and solutions were not needed by the industry as process digitalisation solutions were not mandatory for their continued operation. But now, PropTech players needed a method to sign property contracts virtually. </p><p style="text-align: justify;">PropTech players are attempting to remain sustainable while also preparing for what lies ahead in the post-Covid-19 setting. Some behaviours and programs, such as self-service registration fortunately will continue, as people would choose not to meet in person if anything can be done online.<span></span></p><a name='more'></a><p></p><p style="text-align: justify;">Use cases related to the online signing of business-to-business (B2B) or business-to-consumer (B2C) agreements are examples of emerging areas where e-KYC can see a lot of adoption. A tenancy agreement led by a property technology (proptech) firm, a service subscription agreement signed by a customer and a service provider, or a business transaction agreement (ie a lending facility) signed by two business entities could all be examples.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">InsurTech</h4><p style="text-align: justify;">Insurance Technology, or InsurTech refers to the use of technology innovation with the purpose to reduce costs and create efficiency from the current traditional insurance industry practices. Now, InsurTech is an ecosystem that brings together adjacent industries to provide an improved service of greater value to insurers and their customers. </p><p style="text-align: justify;">Boost, Malaysia’s e-wallet payment platform provider last year initiated <a href="https://www.myboost.com.my/features/insurance/">Boost Protect</a> microinsurance plan, to make it easier for a person to subscribe to lifestyle insurance. The microinsurance plan provides affordable, accessible, and on-demand protection that focuses on catering to the daily necessities of businesses and households for Malaysians. The insurance product is underwritten by Great Eastern Life. </p><p style="text-align: justify;"> </p><h4 style="text-align: justify;">Mobile Devices</h4><p style="text-align: justify;">The KYC system uses advanced biometrics technology such as face recognition and optical character recognition, and it only requires a smartphone and an ID to complete the authentication process, making it simple for users. By simply looking at their phone, users can turn on their mobile devices, log in to an application, and verify an online payment transaction.</p><p style="text-align: justify;">By removing paper-based procedures, e-KYC will enhance the entire authentication process, lowering the cost and time spent on verification. Unbanked customers can use their smartphones to open new accounts, make deposits, apply for loans, and invest in financial products with online verification.</p><p style="text-align: justify;">Consumers want the convenience of signing up through digital channels, and banks want to increase new account enrolment through quicker, cheaper, and less expensive digital channels, so many have switched to digital KYC.</p><div style="text-align: justify;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-1095957767612965292021-04-30T10:00:00.001+08:002021-04-30T10:00:00.163+08:00Innov8tif Collaborates with Monash University Malaysia in R&D of Image Forgery Detection<p style="text-align: justify;">AI-driven ID assurance company, Innov8tif Solution Sdn. Bhd. (Innov8tif) has commenced a collaborative research and development (R&D) initiative with Monash University Malaysia on AI for forgery detection of identity document image. This industry-university research partnership aligns with Innov8tif’s business activities in identity assurance, and it presents potential anti-fraud solutions to real-world digital business challenges.</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-aHhs_0QYQB0/YH5tq2uYqBI/AAAAAAAAFg8/RE_b4oN5KVgLUcJ6dfGYsjyPoH3xMrlYwCLcBGAsYHQ/s1280/photo6336851330873797449%2B%2528edited%2529.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="713" data-original-width="1280" height="223" src="https://1.bp.blogspot.com/-aHhs_0QYQB0/YH5tq2uYqBI/AAAAAAAAFg8/RE_b4oN5KVgLUcJ6dfGYsjyPoH3xMrlYwCLcBGAsYHQ/w400-h223/photo6336851330873797449%2B%2528edited%2529.jpg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">From left: Calvin Yap (Innov8tif), George Lee (Innov8tif's CEO), A/Prof. Dr. Wong Kok Sheik (Monash University Malaysia), Dr Ian Tan (Monash University Malaysia)</td></tr></tbody></table><p style="text-align: justify;"><br /></p><p style="text-align: justify;">This R&D partnership is pursued jointly between Innov8tif and Monash University Malaysia with a clear end-goal for research output commercialization. Using AI techniques comprising deep learning and image processing technologies, image forgery detection algorithm is expected to contribute to Innov8tif's ID assurance solution value-chain and create an impact in real-time digital business transactions while reducing frauds. </p><p style="text-align: justify;">This collaborative approach towards R&D with the pairing of an established global university and a local AI company allows for deep-tech research to be carried out with a focus on meeting the increasing market demand for AI-assisted automations. </p><p style="text-align: justify;">Innov8tif’s commitment in this industry-academia partnership is demonstrated with the reinvestment of the company's bottom line into an R&D fund to support a student’s two-year postgraduate degree programme.</p><p style="text-align: justify;">“This research collaboration is a result of MDEC MyIndustry AI initiative. The topic of collaboration - forgery detection of identity document image, is particularly timely given the current practice of moving almost everything to the virtual space.”, said A/Prof. Dr. Wong Kok Sheik, lead research supervisor at Monash University Malaysia.</p><p style="text-align: justify;">“The most fulfilling moment when running a business is the opportunity to improve our employee’s lives and achieve one’s aspirations. Through this R&D collaboration, we are taking progressive steps towards the vision of creating Innov8tif as a research-driven company, which can translate into scalable and competitive solutions for industry. We wish to form various collaboration models with universities to spur innovations while developing a pool of talents. It’s time to dream big and act now”, said George Lee, CEO of Innov8tif. </p><p style="text-align: justify;">Considering the company’s business nature and the researchers’ expertise in Monash University Malaysia, more projects can be further explored for mutual benefits as well as returning to the community.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><b>About Monash University Malaysia</b></p><p style="text-align: justify;">Established in 1998, Monash University Malaysia is the third-largest campus of Australia's largest university. As a self-accrediting institution of higher learning, it offers a distinctly international and culturally rich environment with approximately 8,900 students from 78 different countries and 900 staff from 34 countries. Monash University Malaysia obtained an Outstanding (6-Star) in the Malaysia Rating for University and University College Excellence (SETARA) 2020.</p><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-29058168908012904472021-04-23T14:19:00.001+08:002021-04-30T10:18:42.194+08:00e-KYC Solutions for Banking may become Crucial Necessities. Here's why<p style="text-align: justify;">The capability of businesses to onboard their customers through digital methods, easily, efficiently, and safely, is a critical component of fintech. The technology that has evolved to allow this is called e-KYC (electronic know-your-customer).</p><p style="text-align: justify;"><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-WOwk2ea0I0s/YIJmNKEer3I/AAAAAAAAFhs/MHH7fDwxmMo-LOPW5janiVJNb40hiyM_gCLcBGAsYHQ/s1920/dollar-exchange-rate-544949_1920.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1357" data-original-width="1920" src="https://1.bp.blogspot.com/-WOwk2ea0I0s/YIJmNKEer3I/AAAAAAAAFhs/MHH7fDwxmMo-LOPW5janiVJNb40hiyM_gCLcBGAsYHQ/s320/dollar-exchange-rate-544949_1920.jpg" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><p style="text-align: justify;">KYC is an old banking term that refers to knowing a customer's identity, financial activities, and potential risks, especially in areas like money laundering. e-KYC has become the standard in countries like China, thanks to the widespread use of mobile devices with high-quality cameras and scanners, as well as innovations like document authentication, facial recognition, and biometrics. In reality, a few technologically advanced banks in Thailand, the Philippines, and Indonesia have persuaded regulators in those countries to enable them to onboard new customers entirely digitally on a case-by-case basis.</p><p style="text-align: justify;">Checkpoints in a bank require the gathering of legal documentation and records to verify a customer's identity. If the customer is deemed a "high risk," the bank will request additional information to establish a risk profiling assessment. Manual processes are time-consuming, prone to mistakes, and present specific challenges.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">1. Instantaneous</h4><p style="text-align: justify;">The e-KYC service is fully automated and available online. This means that KYC data can be transferred in real-time without any manual intervention. The paper-based KYC process can take days or weeks to complete, while the e-KYC process only takes a few minutes to complete. Besides that, e-KYC technology can also provide 24/7 business support. </p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">2. Reduced failed client acquisition and acquiring new customers</h4><p style="text-align: justify;">Today's banks are under pressure to raise their acquisition rates, and the digital onboarding process is critical to attracting new customers and maintaining customer engagement. According to The Digital Banking Report (2017), 43% of those who are dissatisfied with the process of opening a new account say they will be able to switch banks because they have to enter information more than once, particularly when moving from one channel to another, it is not near real-time, and the accuracy is poor.</p><p style="text-align: justify;">As a result, e-KYC is one of the best solutions for overcoming the limitations mentioned above. It makes a bank's customer onboarding a one-of-a-kind experience, regardless of how many platforms they use or when they use them. Guaranteed information is modified and synchronized through networks to give consumers peace of mind that the data they have access to is still up to date.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">3. Digital onboarding reduces fraud </h4><p style="text-align: justify;">The truth is that banks have always had to deal with revenue loss as a result of fraudulent activities. They are currently confronted with enormous challenges in effectively combating systemic digital fraud, especially when working with the remnants of old legacy systems. Digital onboarding process has arisen to take advantage of the mechanism as banking transactions have moved to more digital and mobile platforms. As technology progresses, banks will have access to more tools to help them combat fraud, such as e-KYC in the automated onboarding phase for banks.</p><p style="text-align: justify;">Rather than just authenticating users when they log into an account, systems now actively track accounts to ensure that they are not behaving abnormally. A scoring system that "checks how certain it is that the account owner is also the one using the computer" is one way to think about how continuous authentication could work. OCR, facial recognition, liveness detection, and fraud detection are examples of these technologies. This method aids banks in increasing device security and reducing fraud during the digital onboarding phase.<span></span></p><a name='more'></a><p></p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">4. Improve customer experience</h4><p style="text-align: justify;">In the banking industry, onboarding is the most direct way to show customers what kind of customer service they should expect from your bank. According to the Signicat study (2019), 40% of customers abandon banking onboarding procedures due to the time it takes to complete the necessary steps or the need to include too many personal details. Personalized user experience is the key to maintain customer's attention when it comes to digital banking. Reason being; customers these days want personalized and real-time interactions, simplified banking access to their accounts.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">5.The technology that led to e-KYC</h4><p style="text-align: justify;"><br /></p><p style="text-align: justify;"></p><ul><li>Facial recognition technology</li></ul><p></p><p style="text-align: justify;">Face recognition is detecting, identifying, and verifying a person’s face that involves the measurement of a human’s physiological characteristics. It is a task that is trivially performed by humans, even under varying light and when faces are changed by age or obstructed with accessories and facial hair. Nevertheless, it remained a challenging computer vision problem for decades until recently.</p><p style="text-align: justify;">Then comes the Artificial Intelligence advancement that attributes facial recognition technology to deep learning technology. The maturity in deep learning is the main driving force behind the maturity of e-KYC feasibility today. Not only that, facial recognition, anti-spoofing of biometric liveness, behavioural pattern recognition are all part and parcel of outcome from deep learning advancement. </p><p style="text-align: justify;">Another watershed moment occurred in 2010 when Facebook, for the first time, used facial recognition to detect people with featured faces in images uploaded by Facebook users. It is now evolving in unimaginable ways. All of the elements that would turn KYC were in place, and eKYC slowly began to emerge. e-KYC, like most emerging technology, aims to simplify a complicated process by incorporating digital innovation into KYC's legacy process.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"></p><ul><li>Smartphones with cameras</li></ul><p></p><p style="text-align: justify;">We can identify the exact moments that changed the game by looking at how other businesses developed their technologies. The use of cameras on mobile devices was one example. A large part of the issue is solved by the camera, which, among other features in smartphones, allows you to face-to-face with the customer.</p><p style="text-align: justify;">In May of 1999, Japan launched the first smartphone with a sensor. The Kyocera VP-210 was the first phone with a built-in camera that was marketed to the general public commercially. In 2002, Nokia 7650 and Sanyo SPC-5300 were released not long after. That's when organizations started looking into the digitization of specific processes in a variety of industries.</p><div style="text-align: justify;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-65668144795026984992021-04-09T10:23:00.000+08:002021-04-09T10:23:00.134+08:00Innov8tif's OkayDoc Named as Top Winner for Huawei Spark Malaysia's Tech Competition<div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-co1K48kaSNs/YG-5aVnwzAI/AAAAAAAABh0/LsIbRfraz2Ew9YlUiDLz42ckCh9WSgtBgCLcBGAsYHQ/s1920/EMAS%2BOkayDoc%2B-%2BHuaweiSparkMalaysia_TechCompetition2021_1stPlace.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1920" height="225" src="https://1.bp.blogspot.com/-co1K48kaSNs/YG-5aVnwzAI/AAAAAAAABh0/LsIbRfraz2Ew9YlUiDLz42ckCh9WSgtBgCLcBGAsYHQ/w400-h225/EMAS%2BOkayDoc%2B-%2BHuaweiSparkMalaysia_TechCompetition2021_1stPlace.jpg" width="400" /></a></div><p>This press release was <a href="https://www.huawei.com/my/news/my/2021/top-winners-announced-first-huawei-spark-malaysia-2021" target="_blank">published on 8th Apr 2021 on Huawei</a>.</p><p>[Kuala Lumpur, Malaysia, 8 APRIL 2021] Innov8tif emerged the winner for its OkayDoc platform today in Huawei Technologies (Malaysia) Sdn Bhd’s Huawei Spark competition, with DoctorOnCall placing second and MHub coming in third.</p><p>OkayDoc is a set of computer vision algorithm that automates ID authentication and prevents fraud in e-KYC (electronic know your customer) through visual zone inspections, security feature detection and content tampering checks.</p><p>DoctorOnCall delivers healthcare services like online doctors, specialists, pharmacists, screenings and vaccines directly to users. They have Artificial Intelligence (AI) doctors and 5G Internet of Things (IoT) Pods that aim to improve healthcare for at least 700 million people in Southeast Asia.</p><p>MHUB is the leading end-to-end property sales transaction platform that speeds up and simplifies the property sales cycle by connecting developers, agents, banks, lawyers and buyers.</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-rKry-J7vtNU/YG-6GBBtQMI/AAAAAAAABh8/DutUMKYJ0XAka-ApeXUVKnyTDBhCbunGQCLcBGAsYHQ/s1920/Huawei%2BPhoto%2B-%2Btop-winners-announced-first-huawei-spark-malaysia.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1280" data-original-width="1920" height="266" src="https://1.bp.blogspot.com/-rKry-J7vtNU/YG-6GBBtQMI/AAAAAAAABh8/DutUMKYJ0XAka-ApeXUVKnyTDBhCbunGQCLcBGAsYHQ/w400-h266/Huawei%2BPhoto%2B-%2Btop-winners-announced-first-huawei-spark-malaysia.jpg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Source: Huawei.com</td></tr></tbody></table><p>The companies were among the 10 finalists shortlisted from more than 140 entries in the Huawei Spark competition.</p><p>The competition is part of the Huawei Spark programme, which aims to incubate and accelerate company growth and build an ecosystem for businesses in the Asia Pacific (APAC) region.</p><p>Huawei Spark is held in collaboration with the Malaysia Digital Economy Corporation (MDEC), TusStar (Malaysia) as incubator partner, and powered by TM ONE – the enterprise and public sector business solutions arm of Telekom Malaysia Berhad (TM) – through its α Edge (pronounced as Alpha Edge) Cloud platform.</p><p>The 10 companies that made it to the top were:</p><p></p><ol style="text-align: left;"><li>BookDoc</li><li>Boss Boleh</li><li>DoctorOnCall</li><li>Fuhla</li><li>Innov8tif</li><li>Mhub</li><li>MSA - Mobile Sharing Assistant</li><li>OrangeFIN Asia</li><li>Orpheus Capital</li><li>SmartPeep</li></ol><p></p><p>A five member panel of judges comprising representatives from MDEC, TM ONE, TusStar and Huawei decided on the winners after a pitching session by the finalists.</p><p>Launched virtually in Malaysia in November last year, the Huawei Spark programme is a hybrid accelerator programme to support deep tech companies in Asia Pacific , with a focus on firms that use 5G, Artificial Intelligence (AI) / Machine Learning & Analytics, Internet of Things (IoT), Edge Computing and Software as a Service (SaaS) applications, leveraging Huawei’s technological and innovation leadership.</p><p><a href="https://www.huawei.com/my/news/my/2021/top-winners-announced-first-huawei-spark-malaysia-2021">Click here to continue reading the full press release</a>.</p>Innov8tifhttp://www.blogger.com/profile/02975203610927700177noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-45837410392233191142021-04-02T17:13:00.003+08:002021-04-07T14:55:34.861+08:00Digital Fraud Tactics that may be on the Rise in 2021<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-8g9GS3slOqA/YGbf5x48hfI/AAAAAAAAFfs/fFLIBa4mdIgPhS7KcyhHTE3SLn2kRzDxACLcBGAsYHQ/s2048/pexels-sora-shimazaki-5926375.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="2048" data-original-width="1365" height="320" src="https://1.bp.blogspot.com/-8g9GS3slOqA/YGbf5x48hfI/AAAAAAAAFfs/fFLIBa4mdIgPhS7KcyhHTE3SLn2kRzDxACLcBGAsYHQ/s320/pexels-sora-shimazaki-5926375.jpg" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Image source: Pexels.com</td></tr></tbody></table><p style="text-align: justify;"><br />Because of the rapid rise in digital use, fraudsters can rapidly find new ways to steal money, taking advantage of customers' lack of experience with digital platforms and many businesses' resource constraints. The Federal Trade Commission estimated that between January 2020 and early January 2021, consumers filed over 275,000 complaints, leading to more than $210 million in losses related to COVID-19. As a result, companies must predict new fraud strategies to avoid damages and protect consumers from issues such as <a href="https://www.google.com/url?q=https://www.identitytheft.gov/steps&sa=D&source=editors&ust=1617360434594000&usg=AOvVaw0vBYQdV0UT1m8T6zlfOzNn" target="_blank">identity theft</a> through new technologies such as biometric security.</p><p style="text-align: justify;">Few could have expected the issues of 2020. As lockdown measures restricted conventional modes of business, the COVID-19 pandemic ushered in a time of rampant digitization to allow remote processes and ensure business continuity. This change exacerbated trends that were already in motion to a large extent. Much remains elusive when we look forward to 2021 and the post-COVID market world. Here are some prominent security, technology, and industry-related issues that are expected for the coming year. Understanding these could help people who work in financial institutions and banks better prepare for cybersecurity threats and concerns in 2021.</p><p style="text-align: justify;">There are five fraud risks that companies should be aware of this year to help them prepare for fraudulent activity in 2021.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">1. Biometric identity fraud</h4><p style="text-align: justify;">With biometric technology, many effective software and mobile applications across a variety of industries can be found. Unfortunately, such budding technological advancements are not excluded when it comes to threats from cybercrime. Fraudsters are now likely to utilize AI to break through traditional security solutions such as passwords, captcha features and even biometric authentication measures. There's even the possibility of the use of deepfake technology to bypass authentication to gain access to systems and personal information. Another example of rising fraud trends is the use of social media filters - those which can imitate or swap facial features to another person's likeness. These facial expression recreation algorithms are based on AI components, which is what makes the creation of real-time photorealistic avatars possible. Sometimes, voice capabilities are even present. The bad news is that hackers can use all of these great features to bypass most non-presential biometric authentication solutions.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">2. Chaos caused by the global COVID-19 crisis </h4><p style="text-align: justify;">Taking advantage of the volatile economic crisis, opportunistic hackers have engaged in even more <a href="https://www.youtube.com/watch?v=Ry9AGMXMt4s" target="_blank">fraudulent behaviour</a>. Stealing stimulus checks and unemployment insurance, collecting compensation for dubious COVID-19 treatments, duping victims into contributing to fictitious charities, and other schemes are among the strategies used. In the first half of 2020, there were 1.1 billion fraud attacks, which is more than double the number of attacks in the second half of 2019. According to the Federal Trade Commission, COVID-19-related fraud has cost Americans $145 million. </p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">3. Expect frequent hacks of voice-capturing devices</h4><p style="text-align: justify;">In 2021, as more businesses and financial institutions use voice authentication, expect an increase in hacks of voice-capturing devices with microphones that record users' authentication information. If used by financial institutions, this information may be especially vulnerable to attacks because it could contain confidential information such as account numbers, social security numbers, or other personally identifiable information.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">4.“Too Good to Be True” COVID solutions</h4><p style="text-align: justify;">Experian anticipates that fraudsters will continue to exploit nervous and vulnerable customers and businesses as vaccines are distributed and quick COVID-19 testing becomes more widely available. Everyone should be on the lookout for scammers who use the promise of at-home test kits, vaccinations, and treatments as a cover for sophisticated phishing, telemarketing fraud, and social engineering schemes.<span></span></p><a name='more'></a><p></p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">5. Manipulating digital lending services</h4><p style="text-align: justify;">Digital outlets have revolutionized almost every industry, from social networks and dating apps to food distribution, alternative transportation, and vacation rentals. The use of mobile applications has increased even further this year as a result of the separation of people nationwide, with customers ordering everything from groceries to automobiles. Fraudsters have shifted their strategies to take advantage of online transactions, thanks to the number of marketplace platforms and services available and their widespread popularity — particularly in recent months.</p><p style="text-align: justify;">A good example of growing tech developments within the financing sector is buy-now-pay-later (BNPL) financing or point of sales (POS) lending. Customers can make payments for products or services in small increments or take out loans for purchases. These types of payment methods have boosted convenience for consumers across many sectors including retail since they can gain approval and make purchases in a matter of minutes. Unfortunately, this development has also attracted unscrupulous third parties who may be able to manipulate these lending systems in criminal ways. <a href="https://www.reuters.com/article/us-australia-bnpl-fraud-exclusive-idUSKBN2A906Q" target="_blank">BNPL services</a> have enjoyed great growth with regard to transactions recently, which leads to more opportunities for fraudsters to adapt to the market and abuse complex systems. This has led to a push for greater consumer protection across the board and we can expect better security measures soon.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">6. New consumer expectations</h4><p style="text-align: justify;">Consumers nowadays often require their data to be secure. However, any transaction that takes a long time or needs too much data, or is too complicated will be abandoned. In reality, 92% of customers want a fast, frictionless experience that is also as trustworthy and safe as possible. Due to these high demands, banks and retailers must balance avoiding losses with preventing fraud prevention systems from refusing legitimate customers and transactions. Cybercriminals are well aware of the challenges these companies face, and they prey on those who struggle to strike the right balance of safe and frictionless customer interactions.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">7. Survival of the fittest for small businesses</h4><p style="text-align: justify;">Businesses were forced to rapidly transition to digital to meet the needs of customers as a result of COVID-19, and some were better equipped than others. Consumers may have been willing to allow companies time to adapt to the new normal in 2020, but in 2021, they will have higher standards. Businesses with poor fraud detection tools and inadequate online security technologies, according to Experian, will incur significant financial losses in 2021 and beyond.</p><p style="text-align: justify;"><br /></p><h4 style="text-align: justify;">8. Unclear legal jurisdiction with regard to cross-border fraud </h4><p style="text-align: justify;">Today's online retailers and marketplaces can attract more consumers thanks to global commerce. According to Forrester, cross-border e-commerce revenue will hit $627 billion in 2022, accounting for 20% of all e-commerce. Cross-border transactions, on the other hand, are not without danger. Individual jurisdictions find it difficult to adequately track fraud risk since they usually span many countries. Furthermore, data privacy and security laws differ by country (if they exist at all), making it even easier for fraudsters to commit cross-border transaction crimes.</p>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-20700867014447085912021-03-22T15:47:00.008+08:002021-07-31T14:22:28.535+08:00Customer Case Study: redONE re-imagining mobile plan subscription experience with e-KYC powered customer self-service registration <p><b>Client: </b>redONE Network Sdn Bhd<span style="white-space: pre;"> </span><br /><b>Project: </b>redONE Online</p><p><br /></p><h4 style="text-align: left;">●<span style="white-space: pre;"> </span>Multi-channel e-KYC<br />●<span style="white-space: pre;"> </span>3 months from canvas to deployment</h4><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><a href="https://www.redone.com.my/">redONE</a> is the first postpaid Mobile Virtual Network Operator (MVNO) in Malaysia. redONE was established in 2012, and it achieved the milestone of 1 million postpaid subscribers in 2018. A large part of its success is attributed to the unique and hyper-local sales agent and advisor network. Innov8tif has been serving redONE as a technology partner since 2014, by enabling redONE’s sales agents with a paperless mobile sales platform. The entire process from customer identity verification to confirmation and activation of mobile plan subscription, is done over-the-air in real-time from the agent's mobile tablet.</p><p style="text-align: justify;">When the COVID-19 pandemic outbreak hit Malaysia with a nationwide lockdown, many businesses were experiencing a big impact on business model continuity. redONE was not an exception as the value proposition of face-to-face agent-customer relationship was going through testing moments. Great products to offer, strong network of sales representatives, but the non-face-to-face customer ID verification was a missing puzzle. </p><p style="text-align: justify;">By implementing Innov8tif’s AI-based e-KYC (electronic know-your-customer) technology, it complements the offline-to-online strategy, offering a multi-channel and self-service customer registration experience. A simple gesture of QR code scanning is all it takes for a customer to be led to some guided steps, from capturing identity document image to verifying selfie photo. The entire subscription registration and activation process remains as paperless as it could be. </p><blockquote><p style="text-align: justify;">“We have established a trusted relationship with Innov8tif over the years, starting from the days when Innov8tif helped us to digitise our sales channel. And now moving forward to new customer-facing channels when our business continues to grow and adapt to the evolving landscape, we know that Innov8tif always has our back,” Farid Yunus, Group CEO of redONE Network Sdn Bhd.</p></blockquote><p style="text-align: justify;"><br /></p><h4 style="text-align: left;">Why redONE chose Innov8tif:</h4><p>●<span style="white-space: pre;"> </span>Capability to support self-service e-KYC without mandatory mobile app installation<br />●<span style="white-space: pre;"> </span>Compliance with regulator’s ID verification requirements<br />●<span style="white-space: pre;"> </span>Win-win commercial model</p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://drive.google.com/file/d/1ZTtQztvmKpWJ9EqvYtgs6Yc6RhZFRPOR/view?usp=sharing" imageanchor="1" rel="nofollow" style="margin-left: auto; margin-right: auto;" target="_blank"><img alt="Link to redONE Online registration demo video" border="0" data-original-height="731" data-original-width="1295" height="226" src="https://1.bp.blogspot.com/-lw3ao150IOU/YQTrzwAnaxI/AAAAAAAA3LQ/m9UIdQStvsgPJ-SrEXf06wO-JhN51_nvwCLcBGAsYHQ/w400-h226/Video%2BLink%2Bto%2BredONE%2BOnline%2BRegistration%2BDemo.png" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Click on the thumbnail to access demo video</td></tr></tbody></table><br /><div class="separator" style="clear: both; text-align: center;"><br /></div>Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-22919232482563983702021-03-18T10:31:00.012+08:002021-03-18T12:21:07.158+08:00Innov8tif wins Best Innovation Award at Star Outstanding Business Awards (SOBA) 2020<h4 style="text-align: center;"><i> Innov8tif celebrates the 10th anniversary with a recognition for its AI innovation.</i></h4><p style="text-align: justify;"><b>Kuala Lumpur, Malaysia, 18 March 2021 </b>— Innov8tif Solutions Sdn. Bhd. (Innov8tif), the AI company offering identity assurance technologies founded in 2011, has won Platinum Award for Best Innovation at Star Outstanding Business Awards (SOBA) 2020 under the category for companies with sales turnover up to RM25 million. The awards ceremony was held at One World Hotel Malaysia on 17th March 2021.</p><p style="text-align: justify;">SOBA 2020 is organised by Star Media Group Berhad, endorsed by the Ministry of International Trade and Industry, supported by Bursa Malaysia and audited by BDO Malaysia. SOBA seeks to inspire and encourage local businesses to promote Malaysia and showcase its products and services to the world.</p><p style="text-align: justify;">Innov8tif’s core product – EMAS™ eKYC, is a digital ID verification technology to support e-KYC (electronic know-your-customer) process and identity fraud management for 24/7 businesses. Its sole objective is to ensure the applicant is who they claim to be to a stated level of confidence prior to transaction dealing with businesses, as well as to improve quality of customer identity-proofing data. EMAS™ eKYC is backed by several patent-pending document authentication algorithms. </p><p style="text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-4ZPz1_FEUbQ/YFK6D-2k4SI/AAAAAAAAFd4/6P1jdjqyv_4J-mMrEYnMc3YKILLm6ocUgCLcBGAsYHQ/s2048/innov8tif_soba%2Baward.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" height="225" src="https://1.bp.blogspot.com/-4ZPz1_FEUbQ/YFK6D-2k4SI/AAAAAAAAFd4/6P1jdjqyv_4J-mMrEYnMc3YKILLm6ocUgCLcBGAsYHQ/w400-h225/innov8tif_soba%2Baward.jpg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div>“We are grateful for great support from all our customers, employees and business partners, over a decade of our journey. Without your support, we will not be able to win this award,” said George Lee, Innov8tif’s CEO. “SOBA has always been recognised as an avenue to help SMEs measure its competitiveness against the best in Malaysia. We thank SOBA for the gracious recognition of our team’s innovation. Being a recipient of this award motivates Innov8tif even further to pursue greater accomplishments in its regional business expansion plans.”<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-Z7L09qPGPFc/YFK6Jw15yNI/AAAAAAAAFd8/sdp2S9WlXaMsp--7kylFh88Oh_xzxeLCwCLcBGAsYHQ/s2048/innov8tif_soba%2Baward_2.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2048" data-original-width="1152" height="320" src="https://1.bp.blogspot.com/-Z7L09qPGPFc/YFK6Jw15yNI/AAAAAAAAFd8/sdp2S9WlXaMsp--7kylFh88Oh_xzxeLCwCLcBGAsYHQ/s320/innov8tif_soba%2Baward_2.jpg" /></a></div><div class="separator" style="clear: both; text-align: center;"><span style="text-align: justify;"><div class="separator" style="clear: both; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: justify;">Today, Innov8tif has acquired a proven track record with clientele from all the ten Southeast Asian countries. EMAS™ eKYC is already serving digital identity verification needs of ten telecommunication service providers, and more than twenty other customers from the banking, financial services, insurance, and digital signing industries. Accelerated by evolving customer interfacing landscape to digital touch point and low-touch channel, EMAS™ eKYC innovations have benefited from the timely market demand.</div><div class="separator" style="clear: both; text-align: justify;"><br /></div></span></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://1.bp.blogspot.com/-75L90wUnAIo/YFLIJoZyC9I/AAAAAAAA1gQ/1nRBO1qpqrgl_xCigiwnUQ7s9elJUzZPACLcBGAsYHQ/s2048/File_015.jpeg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="1536" data-original-width="2048" height="300" src="https://1.bp.blogspot.com/-75L90wUnAIo/YFLIJoZyC9I/AAAAAAAA1gQ/1nRBO1qpqrgl_xCigiwnUQ7s9elJUzZPACLcBGAsYHQ/w400-h300/File_015.jpeg" width="400" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">From left: Law Tien Soon the COO, Soh Peng Nam the CFO, George Lee the CEO, and Joe Seah the Chief Commercial Officer</td></tr></tbody></table><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />Elvi Surayahttp://www.blogger.com/profile/05182020105003273849noreply@blogger.com0tag:blogger.com,1999:blog-2793972459548293202.post-10019020433939824492021-03-10T08:00:00.002+08:002021-03-10T09:57:12.003+08:00Agmo Studio Selects Innov8tif’s EMAS™ eKYC for Remote Customer Onboarding<h4 style="text-align: left;"><i>Malaysia’s top software development firm to incorporate AI-based digital identity verification solutions to improve user experience.</i></h4><p><b>Kuala Lumpur, Malaysia</b>, 10 March 2021 — Innov8tif Solutions Sdn. Bhd. (Innov8tif), the AI company offering digital identity verification technologies, announces a new partnership with Agmo Studio Sdn. Bhd., a multi-award winning software solution provider that offers Mobile + Blockchain + Web solutions to corporate and government agencies. Agmo Studio will promote implementation of EMAS™ eKYC into its mobile app solutions to create a seamless and secure digital onboarding experience. </p><p>EMAS™ eKYC is a digital ID verification technology to support e-KYC (electronic know-your-customer) process and identity fraud management for 24/7 businesses. Its sole objective is to ensure the applicant is who they claim to be to a stated level of confidence prior to transaction dealing with businesses, as well as to improve quality of customer identity-proofing data. According to a study, 74% of the customers switch brands if they find the customer onboarding process complex.</p><p>“We are excited to partner with Innov8tif,” said Tan Aik Keong (AK), Agmo Studio CEO. “As it’s clear that many of our customers are looking for an e-KYC integration that offers a smooth and simple onboarding journey to their products, we believe our partnership with Innov8tif will be able to fulfil customers' needs.”</p><div class="separator" style="clear: both; text-align: center;"><a href="https://1.bp.blogspot.com/-8niY3CGF0qk/YEcT6AxItDI/AAAAAAAA1Zg/ubSBgNZaCMcfxdaaUSFi2G1IhqXrQUzdwCLcBGAsYHQ/s800/PR%2BArtwork%2B-%2BInnov8tif-Agmo%2BStudio.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="473" data-original-width="800" height="236" src="https://1.bp.blogspot.com/-8niY3CGF0qk/YEcT6AxItDI/AAAAAAAA1Zg/ubSBgNZaCMcfxdaaUSFi2G1IhqXrQUzdwCLcBGAsYHQ/w400-h236/PR%2BArtwork%2B-%2BInnov8tif-Agmo%2BStudio.jpg" width="400" /></a><span><a name='more'></a></span></div><br /><p>Innov8tif is an ISO 27001:2013 certified company helping businesses to widen sales funnel, speed-up processes without paper and prevent frauds. Founded in 2011 from Kuala Lumpur, Innov8tif has expanded its market presence in Southeast Asia. Today, Innov8tif has acquired a proven track record with clientele from all the ten Southeast Asian countries. Innov8tif’s areas of specialisation are digital ID assurance, low-code customer onboarding process automation, and mobile biometric authentication.</p><p>This partnership expands Innov8tif’s footprint into Agmo Studio’s client base in various industries, including healthcare, oil and gas, logistics and more.</p><p>“We are proud to have a collaboration with such a reputable company like Agmo Studio. We hope with this partnership, our EMAS™ eKYC can further expand its features and can help other businesses to widen their sales channel with fast and easy customer onboarding,” said Joe Seah, Chief Commercial Officer, Innov8tif.</p><p><b><u>About Agmo Studio</u></b></p><p>Agmo Studio is a multi-award winning software development company that serves Fortune 500 companies, top listed companies in the region and government agencies. Since inception in 2012, Agmo Studio has been helping their clients to roll out disruptive digital transformation initiatives with cloud, mobile and Blockchain technology. Learn more at <a href="https://www.agmostudio.com" target="_blank">www.agmostudio.com</a></p><div><br /></div>Tiensoonhttp://www.blogger.com/profile/07124788456473556641noreply@blogger.com0