Digital technology firm boosts security features
By BERNIE CAHILES-MAGKILAT
Ant Group Digital Technologies, a technology unit of Ant Group, recently introduced a number of new features in its cutting-edge digital solutions to boost security features of its digital solutions for the international market.
During the company's Customer Day held in the country, company representatives presented their latest digital security solutions before the Bank Marketing Association of the Philippines (BMAP) and the Chief Technology Officers of some of the country’s leading banks.
“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 potentials,” explained 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."
The company is bullish on the Philippine market because the it is open to digital technology, which played a critical role in delivering service to consumers during the Covid-19 pandemic. The digital adoption in the market is also accelerating.
Potential partners include digital banks, fintechs 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 superapps or improve the performance of exisiting apps. “We look forward to helping partners, including SMEs to operate their businesses online with ease,” Zhang Yi added.
Major e-wallet operators and financial institutions including GCash in the Philippines, TnGD and Maybank in Malaysia, Dana in Indonesia, TrueMoney in Thailand and Mandiri Bank in Indonesia have been using ZOLOZ's e-KYC (electronic Know-Your-Customer) solutions to serve their 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 percent to above 90 percent.
One of the new functions, the eKYC Blacklist Management can conduct real-time risk mining enabling an organization to protect itself from illicit use of its products and services.
Other new security solution and features introduced in this event included the Identity Network module, the NFC Passport Reader and the one-stop risk control product - Mobile Device Security.
Behavior-Captcha, meanwhile, provides screen reading and other accessibility capabilities for digital service providers while Anti Money Laundering-Screen Automation (ZOLOZ Smart AML) taps artificial intelligence (AI) to complement manual verification to enable a hassle free experience.
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 modular development mode for collaborative development.