Acuant Will Act As The Identification Verification Provider For XIXOIO
Acuant is a provider of identity verification. It recently announced that it would collaborate with XIXOIO, which is a fintech startup based in Prague. The company is working to create blockchain solutions and infrastructure for companies, investors, and banks. The solution will use the Acuant AssuredID that has facial recognition match technology. It will create a system of products that enables full tokenization investment based on the blockchain.
One of the crucial components of this solution is the AML System. This will be a real-time AML/KYC solution that will be used by financial institutions. This will help with streamlining of onboarding new clients. It will also enable transaction monitoring in real time. The AMLSystem will work as a flexible online cloudware service. It will offer scoring for corporate and individual clients for regulated entities. This will ensure compliance with AML/CTF and all other legal needs.
The AssureID from Acuant with face recognition will ensure real-time multi-factor Id verification. It will begin with authenticating ID issued by the government and then bind individuals to this ID using facial recognition. To match them, it will utilize image spoofing.
According to the founder of XIXOIO, the AMLSystem will be the next step in the evolution of services from the company. It will offer investors the opportunity for safe investment and a chance for companies to raise the capital they need to grow. All this comes with transparency enabled by XIXOIO innovations that include solutions that are integrated with legal, banking, and regulatory bodies. He added that Acuant was a good partner that will enable them to offer great security. Besides that, they will meet regulatory requirements while causing little distress to their users.
At the core of XIXOIO system is a new solution called Initial Public Coin Offering. It combines the benefits of the ICO with those of an IPO. The main benefits will be simplicity and ease off the ICO and regulatory control offered by the IPO. The solution named Tokenization will enable safe and credible ways to raise development capital.
The CEO of Acuant said that they were happy to work with XIXOIO, which will solve problems while advancing tech in the blockchain world. He added that Acuant was interested in creating a secure and transparent system of transactions. Thus, this partnership was a great example of them achieving their goals.
Acuant uses AI and human-assisted machine learning to cut fraud. At the same time, ensures that the customer experience is flawless. It is built to scale and meets all AML/KYC rules. Acuants currently holds the record for speed and accuracy in verifying ID. It has various top of the line products such as AssuredID, ID Capture, Chip and Ozone ePassport authentication, and facial recognition. This enables them to verify identity via mobile devices and cloud services. Thus far, it has completed over 3 billion transactions globally. It has partnered with FTSE 350 and Fortune 500 companies. The company also works with startups from various sectors.