Innov8tif blog

Identity verification, decoded.

Field notes from the team running eKYC for tier-1 ASEAN banks. New analysis each week on regulation, fraud patterns and ROI.

Insights 5 Jul 2022 6 min read

Anti-Money Laundering: Safeguarding Banks

Recent high-profile corruption cases plastering news headlines make the importance of anti-money laundering (AML) policies pretty clear. However, these policies have become increasingly complicated and detailed over the last decade, owing to the progression of technology, the loopholes stemming fr

anti-money laundering digital banking
News 3 Jun 2022 5 min read

Launch Announcement: EMAS eKYC API OnDemand

Innov8tif's EMAS eKYC API OnDemand offers SMEs easy access to API calls used by major banking and telecommunication institutions to integrate client identity verification services into their mobile platforms or digital products. This platform is suitable for digital startups and SMEs who do not process over 10,000 account openings on an annual basis, and are looking for a cheaper and quicker way to verify users. The API consists of four key functionalities: identity-proofing data collection, aut

emas ekyc
News 27 May 2022 2 min read

Cambodia - Banking Sector & ID Assurance Whitepaper

Innov8tif's new whitepaper, "Banking Sector: The Case for ID Assurance in Cambodia," explores Cambodia's digital economy and banking sector, obstacles and roadblocks, and the role of ID Assurance in the new Cambodian digital banking ecosystem. With high mobile penetration rates and acceptance of digital transformation, Cambodia is an attractive market for digital services, but with a young population located in rural areas, banks must adapt to the increasingly digital-centric market.

emas ekyc
News 20 May 2022 4 min read

EMAS eKYC Now Supports Proof of Income & Address Services

Innov8tif Solutions has upgraded its document verification tool, OkayID, with Proof of Income and Proof of Address services. The new feature will help businesses to verify users' residential addresses and income status through scanning documents using mobile phones. The update aims to streamline the customer journey for activities such as loan applications, consumer service subscriptions, company secretarial services, and professional services. The tool collects photos of the relevant documents,

emas ekyc
News 8 Apr 2022 8 min read

ASEAN Digital Banks: What's Next?

The fintech industry in Southeast Asia has seen a surge due to the pandemic, which has led to a rise in digital banking. However, traditional banks still have a strong presence in the region. Many fintech startups have entered joint ventures with traditional banks to modernize the latter. Cybersecurity is a significant risk as technology sophistication grows. Financial services and fintech companies are regarded as most at risk of cyberattacks, with phishing attacks remaining a concern in the re

emas ekyc
News 1 Apr 2022 5 min read

eKYC Adoption Amongst Philippine Banks

The Philippine’s central bank, Bangko Sentral ng Pilipinas’ (BSP), is in the midst of to improve customer identification and verification amongst banks and non-banks. It uses the country’s national ID as an independent source of proving one’s iden...

Bank eKYC
Insights 10 Feb 2022 7 min read

Impact of Identity Fraud: Governments, Businesses and You

Fraud has existed as old as mankind, but boiling down such a complex and nuanced topic into a single word isn’t doing it justice. If not seriously treated, frauds such as identity fraud poses huge risks to both individuals and businesses alike. Fraudsters apply a variety of tactics and scams, but

emas ekyc
Insights 17 Dec 2021 7 min read

Looking Back : 3 Trends within eKYC in 2021

A 2021 report by Facts and Factors shows that the global eKYC market is growing at a compound annual growth rate (CAGR) of 22%. Innov8tif is experiencing growth several times larger than that — thanks to our solid team of engineers and product makers, with some elements of luck involved. A message

eKYC emas ekyc
Insights 15 Dec 2021 8 min read

Metaverse and the Future of Computer Vision

Metaverse - a new phase of interconnected virtual experiences using technologies like virtual and augmented reality. At its heart is the idea that by creating a greater sense of “virtual presence”, interacting online can become much closer to the experience of interacting in person. Imagine users ha

emas ekyc future of technology
Insights 5 Nov 2021 8 min read

Differences between InsurTech and Conventional Insurance?

Source: pexels.com Although the word \"InsurTech\" dates back to at least 2010, its use and influence have grown in recent years. InsurTech - a portmanteau of insurance technology – is about how technology is transforming the insurance sector at its most fundamental level. InsurTech in Mala

artificial intelligence conventional insurance
Insights 23 Sep 2021 9 min read

eKYC: Benefits for Non-Financial Sectors?

Source: pexels.com eKYC (electronic Know-Your-Customer) is a concept that you've probably heard or read about. With the migration of a wide range of products and services to the internet, the necessity for digital customer onboarding has grown. The procedure entails a series of tests carri

aml eidas
News 13 Sep 2021 3 min read

Tech in a Time of Pandemic and Political Turmoil

Malaysia has experienced more political instability in the past decade than in its entire history, and the Covid-19 pandemic has only made things worse. However, Law Tien Soon, COO at AI solutions provider Innov8tif Solutions, believes that technology can help the country navigate through these challenging times. Law suggests that digital transformation should not just be about adding technology to existing processes, but should also involve streamlining and eliminating redundancy in government

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