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Gearing up for 2019, Monami Tech, the UAE-based fintech payments company, has announced the launch of revolutionary Know Your Customer (KYC) verification solutions in the region.
EZmatch and EZverify are designed to deliver frictionless user experiences, whilst helping customers prevent fraud, mitigate risk and meet regulatory compliance during the on boarding experience.
EZmatch, a facial recognition software allows for a more streamlined on boarding experience with technology that is capable of identifying or verifying a person from a digital image or a video frame. EZmatch enables the creation of an ID by capturing customer’s photos using their mobile phone camera. The live photo is then detected by the customer moving their head (to avoid the risk of customer taking a photo of a photo). The photo in the ID is then matched against the captured photo from the phone to prove the ID belongs to the applicant.
EZverify, a real-time ID verification technology reduces the risk of fraudulent activity, while significantly saving time associated with the costs of meeting KYC requirements of the application or account creation process. To facilitate an easy KYC verification, EZverify streamlines the information flow from the financial institution, manages the schedule by providing an easy interface with preloaded information and ability to reschedule the meeting with the customer, quick capture and checklist of data and biometric validation to allow the agent to validate the emirates ID using a biometric device (provided by the financial institution).
According to Ammar Afif, Founder and Managing Director of Monami Tech, “Our technology-led approach enables us to work with different financial institutions to ensure a thorough check is executed through our innovative KYC verification solutions. In this way, we are facilitating advanced risk profiling whilst remaining low-touch, automated and cost-effective.”
This product portfolio expansion is quite timely as Monami Tech recently announced the appointment of Michael Gavin as a board member and Advisor to the Company. In addition to this role, Michael is participating as an investor in Monami Tech’s current Series A round of funding.
Michael was previously responsible for building and leading sales, channels and digital marketing efforts at Cayan, the leading financial technology company based in Boston, USA.
“We are aggressively expanding our sales and marketing efforts in 2019 and beyond providing innovative solutions that will expand our offering by going directly to consumers. Michael has tremendous experience in building sales team, digital marketing to consumers and building agent and channel networks, all invaluable at this crucial stage,” said Afif.
“Monami Tech is uniquely positioned to capitalize on a very large market with their focus on increasing purchasing power for consumers. The future looks exciting and I am looking forward to helping Monami Tech build, scale and establish itself as the leading instant lending platform in the region,” added Gavin.
Monami Tech provides a platform for lenders to on-board potential borrowers in minutes and then creates a credit worthiness profile using structured and unstructured data on that borrower. Currently live in Dubai, UAE, plans are afoot to expand to other regions over the next few months.
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About Monami Tech
Monami Tech is a fintech payments company specializing in helping financial services companies leverage the benefits of digital technology to enhance customer experience. We work with institutions to bridge the gap between conventional and sophistication through modern digital solutions. Our portfolio of market-leading solutions is focused on the delivery of the following pillars of value: • Increasing revenue • Reducing risk • Increasing efficiency in operations • Enhancing customer experience
Monami Tech has been in operation for 2 years and is headquartered in Dubai, UAE. Our solution suite extends across the entire payments value chain and assists in positioning institutions as a platform, innovating products and services and raising customers’ interest. Through simplification and digitization, we deliver customer onboarding automation platforms, digital wallets, loan origination systems, video conferencing, lending applications and others.
The focus is to ensure the financial services industry’s smooth transition into the digital era from the back office to the user interface. Financial institutions can now offer their customers a simple, secure and personalized experience on any device they choose. Whether it’s something as basic as opening an account, sending money across the globe or even applying for a loan, our technology makes financial services easy, anytime and anywhere.
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