BitoEX uses the FaceMe® eKYC system to verify new users to its crypto exchange
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< Banking, Financial & Insurance

BitoEX uses the FaceMe® eKYC system to verify new users to its crypto exchange

Client Fast Facts

  • Location: Taiwan
  • Industry: Financial services
  • Year founded: 2014
  • Membership size: 300,000+

Problems and Challenges

  • Difficult identity verification because users are all virtually located
  • Approval process, on average, takes 10 days:
    • Users not only need to upload ID cards but also take selfies while showing personal information and ID cards
    • Staff need to manually compare information and ensure that details aren’t modified or forged
  • Potential loss of business from users not completing the process for various reasons

The Solution

BitoEX used FaceMe’s facial recognition technology to fully automate its data verification process, accelerate the approval process, and prevent anti-spoofing. Staff only needed to perform the final confirmation, saving on labor costs. This also meant that review times were shortened from 10 days to one day, allowing users to quickly go online. At present, BitoEX is the only crypto exchange in Taiwan that provides the security provided by eKYC verification.

Why CyberLink FaceMe®?

  • Exceptional Accuracy: In verifying applicants’ identities, FaceMe® performs 1:N face searches with a remarkable accuracy rate of 99.73%.
  • Secure AntiSpoofing: Especially critical in protecting against biometric fraud, FaceMe® provides secure and accurate liveness detection.
  • Flexible Deployments: Not only is FaceMe® available for deployment in edge devices but also servers and hybrid environments.
  • Optimized for Multiple Platforms: Highlighting its easy integration, FaceMe® is supported for multiple platforms, such as Windows, Linux, Android, and iOS.
  • SDK Options: You can supplement FaceMe® Fintech with video conferencing and OCR SDKs for a complete solution.
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