Tech distributor VST ECS has been appointed the sole distributor of Advance.AI’s eKYC, fraud, and risk management solutions in the country.
Advance.AI’s no-code, easily customizable technology allows businesses to deploy a range of AI-powered face recognition technology such as Liveness Detection, Face Comparison, Face Search, Fraud Faces, and Facial Multi-loan Score.
Its eKYC (electronic Know Your Customer) verification solutions include ID forgery detection, ID document recognition, and ID card masking for Philippines’ national identity documents.
For banking and finance-related industries, Advance.AI offers Joint Modelling, Fraud Intelligence and Credit Insight solutions.
Advance.AI is a leader in artificial intelligence, risk management, and digital lending solutions with a portfolio of clients across banking, financial services, fintech, payment, retail, e-commerce, and government sectors.
The Singapore-based company is part of Advance Intelligence Group, a tech unicorn backed by key investors SoftBank Vision Fund 2, Warburg Pincus, Northstar, Vision Plus Capital, GSR Ventures, and Singapore-based global investor EDBI.
“Sophisticated technologies are critical to mitigate and curb the increasing risk of fraud and cybercrimes, especially post-pandemic,” said Jimmy D. Go, president and CEO of VST ECS Phils. Inc.
“With the growing use of digital payments and banking services, Advance.AI solutions will provide an additional layer of security for digital transactions to ensure that users’ data and identities are protected. Through our partnership, we will support Filipino businesses to achieve strategic balance between innovation, compliance and security.”
Michael Calma, Advance.AI Philippines country manager: said: “We’re excited to have VST ECS as our sole distributor in the country, to accelerate a digitally empowered and financially inclusive Philippines. This is of even greater urgency post-Covid, when the banking, financial services and digital commerce industries have to digitally onboard and manage the risk profile of their customers quickly, easily and accurately. The end result is better resource efficiency, faster time to market and lower costs.”
To learn more about Advance.AI, feel free to contact Marcs Tan at LTan@msi-ecs.com.ph.
