Acuant, a leading global provider of identity verification solutions, today announced it was selected by TRAXX Payments Pte Ltd, a global payment processing service provider, to create a seamless digital Know Your Customer (KYC) process for its clients. Utilizing Acuant’s AssureID and FaceID, TRAXX has replaced its manual process of visually inspecting documents submitted with an automated, more accurate verification process. This has allowed TRAXX to adapt its payment method in a constantly evolving landscape, providing faster, smoother and safer transaction processes for customers.
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TRAXX securely connects merchants to customers. To ensure the highest transaction quality, it analyzes and optimizes their processes, implementing anti-fraud measures to ensure secure transactions. TRAXX offers its services globally to clients such as Visa and Mastercard, and traditionally relied on its clients to send their KYC screen packages physically and digitally. With TRAXX.ID, it now offers a seamless, cost-efficient screening service, increasing the operational efficiency of a company’s transaction process.
TRAXX chose Acuant over other vendors due to the simplicity of its implementation process and powerful solutions. Acuant smoothly integrated document authentication and biometric facial recognition match with a liveness test into TRAXX’s digital KYC platform. Acuant’s customer service was also a deciding factor, citing the teams’ quick response time.
“Our team found the integration process simple and the SDK extremely helpful. Acuant’s team was quick in responding to our queries and assisted us in resolving any issues” said Derek Han, Managing Director of TRAXX. “TRAXX can now replace the manual process of visually inspecting documents, a task which is not only time consuming but also dependent on the skill of the human inspector. Acuant has afforded us a great convenience by not only eliminating the need for both parties to be present at the same location, but also at the same time,” Han concluded.
“We are thrilled to partner with TRAXX to solve the very real problems of establishing trust and optimizing KYC workflows,” said Yossi Zekri President and CEO at Acuant. “In this time of increasingly digital transactions and fraud, businesses have to keep up with secure solutions that employ automation. Our goal is to make this as easy to implement as possible and to provide world-class support.”
