Ant Group Digital Technologies, a technology unit of Ant Group, unveiled its latest digital security solutions meant for the international market.
“We want to support our partners in the international market and enable them to provide safer, more convenient, and more reliable services to their customers. The market in the Philippines has significant potential,” said Zhang Yi, solutions architect, Ant Group Digital Technologies. “For example, the banking industry’s robustness is very impressive particularly given the rapid growth of the financial technology (fintech) sector in the country.”
Major e-wallet operators and financial institutions including GCash in the Philippines have been using ZOLOZ’s e-KYC (electronic Know-Your-Customer) solutions to serve customers. 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 new function eKYC Blacklist Management can conduct real-time risk mining enabling an organization to protect itself from the illicit use of its products and services. Other features such as multiple-dimension risk assessment, enable merchants to better manage and mitigate risks.
The Identity Network module identifies patterns and syndicates information from the entire eKYC lifecycle, the NFC Passport Reader, which helps verify passport information within a few seconds and the one-stop risk control product: Mobile Device Security.
Behavior-Captcha provides screen reading and other accessibility capabilities for digital service providers and this can benefit visually impaired groups.
The Anti Money Laundering-Screen Automation (ZOLOZ Smart AML) taps artificial intelligence (AI) to complement manual verification.
Ant Group’s mPaaS (Mobile PaaS) solution, which provides a cloud-to-end, one-stop solution for mobile development, can generate initialization code and offer a modular development mode for collaborative development.
“mPaas offers a programming framework that will change the majority of coding into a mini program which is downloadable from the server side,” Yi said. “Imagine how it will dramatically reduce the processing time in mobile applications. It can jumpstart a super app.”
The company is bullish on the Philippine market because it is open to digital technology, which played a critical role in delivering service to consumers during the COVID-19 pandemic. Digital adoption in the market is also accelerating.
Potential partners include digital banks, fintech and insurance companies, and others that would like to offer online services which require eKYC. mPass, the company’s mobile development solution, helps companies build new super apps or improve the performance of exisiting apps.
As more industries digitize their operations in the digital era, there is increasing demand for trusted multi-party collaboration that happens entirely online.
In photo: Zhang Yi, Solutions Architect Director, Ant Group Digital Technologies