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Kviku: Biometric identification will replace the passport

by Alexander Shestakov, from Kviku, on Dec 1
Fintech companies are testing new anti-fraud systems and client identification technologies that have significantly reduced the level of fraud

Active development has now received technologies for identification and recognition of personality, in particular, bi-modal biometrics for the performance of financial transactions. This is a multifactor identification, which combines the technology of recognition of anatomical features of the face, voice, retina, fingerprints, and veins. Identification of the veins of the palm is based on scanning the pattern of blood vessels with infrared rays, which makes it possible to determine the substitution of a person with guaranteed accuracy. On the basis of this technology, systems will be introduced in bank branches, ATMs, and offline credit organizations.

Also, customer recognition systems are being improved in companies that are fully online. So, engineers from Kviku developed their own system IoD (Integral online Determination), which algorithms allow discreetly recognize the devices and determine their possible belonging to the identified customer.
In real time, the development evaluates several dozens of different parameters, starting with setting the physical properties and performance parameters of remote users equipment to analyzing the "digital style" of customers based on the rhythm of using the keyboard or touchscreen of their smartphones.

The system successfully identifies cases of possible fraud, but not always it is about abuse or fraud. When an unusual user behavior or changing some of the parameters are tracked, the system launches frameworks for additional checks and analysis.
First and foremost, the IoD system is aimed at improving the quality of customer service, which appeals to the company repeatedly. During the first 29 days of working in the test mode, the system revealed almost 11.5% more cases of non-standard behavior among repeat customers compared to the previous month. At the same time, the total number of cases of possible abuse increased by 5.4%.

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