SmartPay Selects Applied Recognition Technology for Identity Verification

CBJ Newsmakers

HO CHI MINH CITY, Vietnam and TORONTO, Dec. 13, 2018 (GLOBE NEWSWIRE) — Intelligent Network Service and Trading Company, Ltd, operator of the SmartPay platform, has selected Applied Recognition’s technology to assist in the verification of persons applying for new accounts online. Applied Recognition’s (ARI) Ver-ID face recognition technology has been adopted by SmartPay to verify that the person holding an identity credential is in fact the person to whom the credential was issued by comparing the photo on the credential to a ‘selfie,’ taken as part of the enrollment process. SmartPay is also using Ver-ID’s ‘Liveness Detection’ feature to prevent a photo or video of the ID owner from being used to fool (‘spoof’) the system.

“We’re pleased to be working with SmartPay to extend and to secure their online enrollment process,” said Ray Ganong, Co-CEO of ARI. “SmartPay is among the most sophisticated and the fastest-growing financial services platforms in Southeast Asia. Sometimes SmartPay is referred to as ‘The PayPal of Vietnam’ and while they enjoy similar success, their business model is broader and more attuned to local needs and opportunities. While payments are, unsurprisingly, at the center of SmartPay, their platform is really a co-prosperity community, helping to connect employers with job seekers and matching buyers with sellers. It’s a unique model and we’re looking forward to helping them continue to fulfill their vision.”

“Selecting Applied Recognition to assist us with our online enrollment process was an easy decision,” according to Duy Huynh, Deputy CTO. “Speed and accuracy are prerequisites for face recognition technology and ARI excelled in our testing. We also found that ARI’s liveness detection technology hit the sweetspot, adding strong security with a good user experience. But what really set ARI apart was their willingness and ability to work closely with our development team, adapting and helping to integrate their technology into our architecture. We see some other financial services companies using so-called ‘Identity as a Service’ providers but we think that’s short-sighted. Face recognition is clearly emerging as the core biometric technology and so should be directly integrated into business processes to create the best user experiences and to realize the full benefit of the technology.”

SmartPay anticipates activating face recognition powered digital onboarding in early 2019.

About Applied Recognition
APPLIED RECOGNITION, INC. is a leader in face detection, recognition and authentication technology. Founded in 2005, Applied Recognition has developed an extensive portfolio of patents for facial recognition & indexing, and for enterprise-grade, biometric authentication technologies.

Applied Recognition serves organizations that rely on biometrics to improve performance and security: financial services providers, IoT device manufacturers, and leading software publishers. Licensing is available for software development kits for the Android and iOS platforms to support online identity verification and digital signature applications as well as for login/authentication use cases. ARI also offers Ver-ID Authenticator, enabling the addition of second-factor authentication to any enterprise IT access-control system. To learn more, visit www.appliedrecognition.com.

About SmartPay
Learn more about SmartPay at www.smartpayvn.com

CONTACT: For Applied Recognition media inquiries, please contact: 
Media Relations
media@appliedrec.com
905.363.7701 ext. 261
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