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// REGIONAL ROUND-UP // AFRICA | APAC | EUROPE | MIDDLE EAST | NORTH AMERICA
MIDDLE EAST
FACEPHI COLLABORATES WITH QASHIO TO ENTER THE MIDDLE EAST MARKET
Spend management FinTech , Qashio , has partnered with a global leader in digital identity verification , Facephi , to further secure its digital identification processes . Qashio ’ s customers will now be able to use biometric technology by Facephi , marking the publicly traded company ’ s first contract and entrance into the Middle East . UAE and KSAbased users can now perform digital onboarding and identity verification without the risk of identity theft .
Facephi ’ s technology will provide Qashio ’ s corporate customers with an improved user experience and security when registering its employees to issue corporate credit and debit cards and authorising them to use the cards . The process will be secure , stable and easy for end-users . Qashio users will need to take a photo of their ID card on both sides using their mobile device so that Facephi ’ s technology can read and capture their data using both Latin and Arabic alphabet characters . Users will then take a selfie from which Facephi will extract a biometric pattern of their face to compare it with the photograph on their official document , thus verifying their identity .
A survey ’ s results showed that a significant majority , 94 %, of consumers in the UAE worry about the risk of banking or credit fraud as the banking industry is digitised . According to Deloitte ’ s latest Middle East Fraud Survey , almost half ( 48 %) of the organisations reported a higher number of fraudulent incidents in 2021 than in previous years . Additionally , more than one-third of customers ( 48 %) believe that the issue of fraud stems from insufficient identification measures and that individuals should confirm their identity when utilising services . By applying biometric technology , Qashio reinforces its customers ’ security during the onboarding process . Simultaneously , the user gains a more secure experience , which means they can verify their identity with total security in just a few seconds .
Jonathan Lau , CPO and Co-founder of Qashio , said : “ Partnering with an established provider like Facephi , which already provides its services to global banking giants such as Santander and HSBC , allows us to provide services in both English and Arabic across multiple countries . It elevates our offerings by bringing
Eric de La Goublaye de Menorval , CTO , Qashio and Enrico Montagnino , General Manager of Facephi EMEA , signing partnership agreement
global security and KYC ( Know Your Customer ) standards to clients in the region . Facephi ’ s biometric technology will help us develop our processes in a more agile , quicker and easier way , with the peace of mind that we will avoid digital identity theft attacks .”
Enrico Montagnino , General Manager of Facephi EMEA , values this contract signing as “ an important milestone in the company ’ s expansion strategy . One year ago , we made a commitment to commercialise our solutions in EMEA and this first contract signing with a FinTech company in the region shows that we are on the right track .” �
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