Merchantrade selects IDEMIA to enhance customer onboarding

• Merchantrade leverages IDEMIA to enable quick, secure registration of mobile customers
• Process uses real-time biometrics, ID document captured via customer’s smartphones

MALAYSIAN fintech company Merchantrade has selected France-based augmented identity provider IDEMIA to enhance its customer onboarding for two of its mobile-enabled services.

The partnership will see Merchantrade leverage IDEMIA’s Identity Proofing Platform to enable quick and secure registration of mobile customers on its digital multicurrency e-wallet, Merchantrade Money, and its app-based remittance service, eRemit, the company said in a statement.

IDEMIA’s Identity Proofing platform is said to offer enterprises robust identity verification capabilities that enable them to know, trust, and verify their customers’ identities.

This process is completed using real-time biometrics and ID document capture via a customer’s own smartphone. Once users submit their data, their biometrics and ID information are then extracted, authenticated and verified using IDEMIA’s artificial intelligence algorithms, the company explained.

For Merchantrade, IDEMIA’s solution digitalises the user registration process by verifying ID documents and biometric facial recognition in real-time for users from all countries through their smartphones. This also ensures total security, Merchantrade said.

Ramasamy K. Veeran, Merchantrade’s founder and managing director, said: “[IDEMIA]’s solution will reinforce trust in our mobile-based ID authentication regime. The benefits of IDEMIA’s system are far-reaching for Merchantrade.

“It allows us to offer a truly safe and secure customer-centric solution, differentiating ourselves in a competitive market and speeding up the onboarding and activation process for first-time users.”

IDEMIA, which is headquartered in Courbevoie, France, provides augmented identity products for clients in 180 countries in sectors ranging from financial and telecom to public security and IoT.

“IDEMIA is dedicated to support fintechs around the world to differentiate their customer onboarding journeys. We are pleased to work with Merchantrade to innovate the way they identify, verify and onboard customers, which will help users open their accounts in just minutes,” said Christophe Lambinon, its Asia Pacific vice president of digital business.