Daon Blog Team
[Case Study] Polarify: Joint Venture for Cross Channel Biometric Authentication & e-KYC

Learn about the benefits of Polarify, Daon's joint venture with Sumitomo Mitsui Financial Group/Sumitomo Mitsui Banking Corporation and NTT Data

Polarify Blog

THE CHALLENGE

Japanese service providers wanted to offer a better experience to their customers, both in customer registration for new services, i.e. digital onboarding or e-KYC and when accessing services or approving transactions. If every service provider developed their own solutions, that would introduce even more friction for customers and costly duplication of effort.

THE SOLUTION 

Sumitomo Mitsui Financial Group/Sumitomo Mitsui Banking Corporation, one of Japan’s largest financial groups, along with its technology partners NTT Data asked Daon to bring its technology and expertise to a new joint venture. The result is Polarify: a service that delivers cross channel secure and convenient biometric authentication and e-KYC for streamlined digital onboarding.

THE MARKET REACTION

Polarify quickly became an attractive alternative by offering best-of-breed biometric authentication and onboarding capabilities as a service within the Japan market. With Daon as its partner, Polarify delivers a future-proofed solution for customers, who include not just banks, but also some of the world’s most prestigious ecommerce and insurance companies, including Japan’s largest life insurance company.

THE E-KYC AND TRUSTED AUTHENTICATION OPPORTUNITY

Recent revisions to the Japanese Act on Prevention of Transfer of Criminal Proceeds (APTCP) and other Know Your Customer (KYC) regulations enabled Japanese companies to go digital with their customer KYC procedures and particularly to leverage facial biometrics to enable the integrity of e-KYC. Not only that, in a single process, end users can be registered in an e-KYC process and setup for trusted authentication– a market leading business innovation from Polarify that benefits all sides, while still complying with Japan’s strict regulatory requirements.

Download the full case study here.

Daon Blog Team
[Case Study] Digital Banking Innovator - Pioneering banking app, powered by platform flexibility and best-of-breed biometrics

See how a partnership with Daon helped a financial services pioneer launch a market-leading banking app in its customers' native language, fully secured by voice and face biometrics 

DBI case study social

THE CHALLENGE

A digital banking innovator wanted to offer a superb customer experience to its young customer base, featuring a cutting-edge banking app powered by biometrics. But inflexible licensing and engagement models offered by biometric technology vendors frustrated its development efforts. It needed to find a vendor who could work flexibly, iterating different versions of the enrollment process until it offered a seamless experience.

THE SOLUTION 

The bank reached out to Daon and found the partnership approach it was aiming for. Working closely with the bank’s Innovation VP, Daon built, customized and refined the app using multifactor authentication. Daon incorporated its own facial matching algorithm and a voice technology from another vendor the bank had selected; both voice and facial recognition were available in the app when it launched into the market.

THE ROLLOUT

Customer reaction was excellent: the app was successfully launched in the local language of the bank’s customer base and expanded to a second territory. A weak link in the solution, however, was the voice element, which came with an inflexible software licensing model from the third-party vendor. After considering its options, the bank chose to move away from the legacy voice technology and upgrade to the latest release of Voice X, Daon’s own voice matching algorithm.

A SEAMLESS SWITCHOVER FOR CUSTOMERS

The bank successfully made the switch, and not a single customer had to re-enroll a new voiceprint. All voice files – maintaining local, non-English language prints – were migrated, and the changeover was invisible to end customers. Best of all, the bank has achieved its goal: it’s enhanced its market reputation for thought leadership, being the first to successfully feature multi-modal biometrics in its banking app, including best-of-breed voice recognition. VoiceX is also delivering cost savings, thanks to Daon’s licensing model and the fact that it uses less physical infrastructure.

Download the full case study here.

Daon Blog Team
[Case Study] International Banking Group - Looking to the future with biometrical secured banking

See how Daon is supporting a banking group’s modernization program by letting customers authenticate via their mobile phone.

IBG case study social

THE CHALLENGE

An international financial services group was modernizing its digital banking services and needed a new solution to authenticate customers. It had to be convenient for customers, meet stringent new compliance requirements, and work seamlessly across multiple bank brands in the group.

THE SOLUTION 

The banking group chose Daon, both for the proven ability of the IdentityX security platform to provide Strong Customer Authentication, and for the design and architecture capability of Daon's services team. IdentityX allows bank customers to verify their identity using multiple factors: something they possess, something they know, and something they are, e.g. a biometric attribute confirmable by a fingerprint, voice or facial recognition.

THE ROLLOUT

The orderly migration of more than 5 million bank customers is being completed over a nine-month period. The single IdentityX instance can be used for multiple bank brands, eliminating duplication of infrastructure while ensuring total separation of customer data.

GETTING CLOSER TO CUSTOMERS 

The Daon solution delivers compliance and convenience, letting customers authenticate easily with the mobile phone that's already in their pocket. It also opens the doors to a deeper relationship with customers, including push notifications for account alerts or upsells. 

Plus, IdentityX enables server-side voice and face matching for future capabilities, like voice recognition for the call center.

Download the full case study here.