KUALA LUMPUR: GREEN PACKET BHD's subsidiary Kiplepay Sdn Bhd is collaborating with Tencent Cloud to offer an "electronic know-your-customer" (e-KYC) service called KipleID e-KYC to businesses, especially those in the banking and financial sector.

e-KYC is a digital solution to verify the identity of customers in online transactions. In their collaboration on KipleID e-KYC, Kiplepay will leverage Tencent Cloud's facial recognition and machine learning capabilities.

"The current Covid-19 pandemic has showcased the value of digital transformation.

"This has become a wake-up call for organisations and industries that are overly reliant on traditional operations to quickly embrace digital transformation as we foresee that there will be a definite shift in consumers’ behaviours once MCO is lifted," said Green Packet group managing director and CEO CC Puan in a statement.

According to Green Packet, KipleID e-KYC will not just cater for banking and financial institutions but will also add value to companies in other sectors such as education, insurance, retail and telecommunications.

Green Packet is currently in talks with several leading companies who will be piloting the KipleID e-KYC solution, it said.

It added that the technology improves workforce efficiency and productivity.

"Leading research has also shown that adopting e-KYC can improve business operation efficiency by 30% - 65%. This includes protecting businesses from identity fraud that remains a growing concern among the business community," it said.

KipleID e-KYC will feature Tencent's "single-flash" liveness detection solution, which integrates reflection-based and motion-based detection technologies.

Read more at : https://www.thestar.com.my/business/business-news/2020/05/13/green-packet-partners-tencent-cloud-for-e-kyc-offering