Banking, Financial Services and Insurance (BFSI)

BFSI

Simplifying & Securing Online Account Opening, Transaction, and Financial Service Journeys with Biometric Authentication

The global biometrics for the Banking & Financial Services Market will reach $8.9 Billion by 2026, which means the customer persona and expectations are shifting. Biocube’s modern biometric identity solution enables faster KYC verification and account opening. It facilitates cryptocurrency, payment, financial, and insurance services with biometric authentication in the loop, revamping security and convenience to the next level.

The VAST Usage of Biometrics in the BFSI Industry:

Bioqube Empowering BFSI Stakeholders with Next-Gen Bio-ID Solutions

BFSI

Easy One-time Remote User Onboarding from a Mobile Device

Our AI-driven solution allows users to open accounts remotely and verify their identities with liveness and location. The robust technology allows BFSI stakeholders to conduct vigorous AML, PEP, and sanction checks, ensuring zero risk of spoofing during onboarding.

Secure Loan Sanction – Minimized risk of ID Fraud + Risk Scoring

Avail one-tap application identity, financial, and credit data verification from the source with a full-scale identity & AML compliance check. It facilitates one-step document signing & biometric verification along with AI-based profiling, credit scoring, and decision support.

Secure Bio-Auth-Based, Card less Online & ATM Transactions

Securely withdraw money from an ATM with bio-auth on mobile. Fully secure account access, withdrawal, and seamless money deposits in the account with multifactor & liveness checks. Random AI-based bio-auth for Digitized Banking Landscape challenge to the user.

Bank Personal Verification & Bio-ID Signed Transactions

Multifactor biometric authentication for the bank teller transactions like payments, deposits, etc. An in-built truncation system that verifies the biometric identity of the Executive and links checks before the cheque clearance.

Multi-factor Bio-Auth-Based Secure P2P Transactions

Enhanced transaction security with multifactor bio-auth & integrated liveness check. A randomized bio-auth challenge prompt for the user based on the transaction amount. P2P transaction with two-way Biometric authentication to ensure 100% secure transfer.

Secure Trading with Reduced Risk of PIN-Based Spoofing

Log in to the trading platform with a multifactor bio-auth system. Ensure transaction security of traders across multiple devices seamlessly. Liveness check during login and transaction to ensure the genuineness of the trader.

The VAST Usage of Biometrics in the BFSI Industry:

Easy One-time Remote User Onboarding from a Mobile Device

Secure Loan Sanction – Minimized risk of ID Fraud + Risk Scoring

Secure Bio-Auth-Based, Card less Online & ATM Transactions

Bank Personal Verification & Bio-ID Signed Transactions

Multi-factor Bio-Auth-Based Secure P2P Transactions

Secure Trading with Reduced Risk of PIN-Based Spoofing

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