A digital technology company offered enhanced security solutions to small-medium enterprises (SMEs) amid the continuous preference for e-commerce in the country.
Ant Group Digital Technologies, the technology unit of Ant Group, presented new security features in its digital products at an event with the Bank Marketing Association of the Philippines and the heads of some of the country’s leading banks.
Zhang Yi, solutions architect of Ant Group Digital Technologies, said that these features would hopefully help their SMEs in the country adapt to the online space “with ease.”
“We look forward to helping partners, including SMEs to operate their businesses online with ease,” Zhang said.
He further hoped that the Ant Group can work with more partners in the Southeast Asia region in the future.
“We remain focused on the technological breakthroughs that create a trusted digital network to improve industrial collaboration. We look forward to working with more partners in SEA, and using our innovative products and services to better serve the digital economy,” Zhang Yi said.
Here are the new features in the company’s current offerings.
e-KYC (Know Your Customer)
Ant Group Digital said in a statement that the adoption of this product helps reduce authentication time from days to just a few minutes.
“The adoption of e-KYC solutions helps clients reduce end-user authentication time from days to around three minutes while improving the authentication success rate from 65% to above 90%,” the company said.
Its new functions are as follows:
- e-KYC Blacklist Management – can conduct risk mining in real-time, thus enabling the organization to protect itself from illicit use of its products and services.
“Other features such as multiple dimension risk assessment, enable merchants to better manage and mitigate risks,” Ant Group Digital said.
- Identity Network module – identifies pattern and syndicate information from the entire e-KYC lifecycle.
- NFC Passport Reader – helps verify passport information within a few seconds.
- Mobile Device Security – a one-stop risk control product.
E-wallet services and financial institutions such as GCash in the Philippines, TrueMoney in Thailand, TnGD and Maybank in Malaysia, Dana in Indonesia and Mandiri Bank in Indonesia are already using e-KYC in their systems to serve their customers, according to Ant Digital.
Behavior-Captcha for authentication
The tech firm noted that its “behavior-captcha” offers access to visually impaired groups.
“Behavior-Captcha provides screen reading and other accessibility capabilities for digital service providers. Moreover, the visually impaired groups can also benefit from this solution,” it said.
Ant Group Digital explained that its Anti-Money Laundering system uses artificial intelligence for a more convenient verification process.
“The Anti-Money Laundering-Screen Automation (ZOLOZ Smart AML) taps artificial intelligence (AI) to complement manual verification to enable a hassle-free experience,” the company said.
Ant Group’s mPaaS (Mobile PaaS) solution can provide a “cloud-to-end, one-stop solution for mobile development.”
It now can “generate initialization code and offer modular development mode for collaborative development.”
Zhang Yi explained that mPaaS offers solutions to challenges of banks and financial institutions when they expand.
“When they grow their mobile applications, the challenges become bigger. mPaas offers a programming framework that will change the majority of coding into a mini program which are downloadable from the server side,” he said.
“Just imagine how it will dramatically reduce the processing time in mobile applications. It can jumpstart a superapp,” he added.