Alibaba Cloud, a subsidiary of Alibaba Group, is one of the world’s leading cloud computing and artificial intelligence technology providers. Renowned for its robust infrastructure and innovative solutions, Alibaba Cloud offers a comprehensive suite of cloud services tailored to businesses of all sizes across various industries.
At the forefront of digital transformation, Alibaba Cloud empowers organizations with cutting-edge technologies to drive efficiency, scalability, and security in their operations. With data centers strategically located worldwide, Alibaba Cloud ensures low-latency access to its services and provides seamless integration across different regions.
One of the standout offerings from Alibaba Cloud is ZOLOZ Real ID, an innovative eKYC solution designed to revolutionize the customer authentication process for financial institutions and other businesses requiring identity verification. By leveraging Alibaba Cloud’s vast resources and expertise in cloud computing and AI, ZOLOZ Real ID delivers a sophisticated platform that combines advanced technologies such as OCR (Optical Character Recognition) and AI-powered liveness detection.
Through the integration of face recognition and OCR capabilities, ZOLOZ Real ID enables businesses to authenticate customers swiftly and securely, eliminating the need for cumbersome manual data checks. This not only enhances operational efficiency but also significantly reduces the risk of identity fraud and improves the overall customer experience.
The solution offers up to 99.99% accuracy and can recognize the difference between a real person and an image or video, making it nearly impossible to steal someone else’s identity. ZOLOZ Real ID is highly accurate, easy to use, and mitigates risks and fraud. It supports comprehensive security checks of ID documents and provides rich AI models and risk engines to automatically identify frauds and combat document forgery. The e-KYC system allows users to open their mobile devices, log into an application, and verify an online payment transaction just by looking at their phone, improving the whole authentication process by eliminating paper-based procedures and reducing the cost and time spent on verification.
Here are some key points about ZOLOZ Real ID:
- Purpose: ZOLOZ Real ID helps businesses verify customer identities efficiently and securely. It reduces turnaround time when performing identity checks.
- Features:
- Digital Solution: ZOLOZ Real ID is a digital and remote online solution.
- Anti-Spoofing Algorithm: It employs a world-leading, proprietary anti-spoofing algorithm to enhance security during identity verification.
- Benefits:
- Efficiency: Faster customer onboarding and account verification.
- Security: Robust anti-spoofing measures.
- Compliance: Helps meet regulatory requirements for eKYC.
- Use Cases:
- Financial Services: Banks, fintech companies, and payment providers can use ZOLOZ Real ID for secure customer verification.
- Telecommunications: Telecom operators can verify customer identities during SIM card activation.
- E-Commerce and Online Services: Ensures secure transactions and prevents fraud.
- Availability: ZOLOZ Real ID is part of Alibaba Cloud’s suite of services and can be accessed through their platform.
ZOLOZ Real ID has been trusted by a large number of banks and financial institutions in Southeast Asia, including Indonesia, due to its significant demands for e-KYC solutions and its potential for expansion in the region. The solution has also been adopted by UBX, a financial institution in the Philippines, to achieve better customer experience and financial inclusivity for unbanked and underserved Filipinos.
Together with WGS Services, one of major Bank in Indonesia has implemented ZOLOZ Real ID to provide a more secure and easily accessible digital security experience for its customers, including the unbanked and underbanked, and to unlock inclusive financial services.