LOS ANGELES, Dec. 17, 2018 /PRNewswire/ -- Acuant, a global provider of identity verification solutions, today announced a partnership with XIXOIO, a fintech start-up located in Prague, Czech Republic. XIXOIO is developing a unique blockchain solution and complete infrastructure for banks, companies and investors. This solution will utilize Acuant's AssureID with FRM (facial recognition match) to make a complete system of products enabling a comprehensive process of tokenization-investment and financing based on blockchain technology.
One of the key components to the solution is AMLsystem, a real time AML/KYC solution for financial institutions and other regulated entities to streamline the onboarding of new clients and enable constant transaction monitoring. AMLsystem is a comprehensive and flexible online cloudware service that provides the scoring of individual and corporate clients for regulated entities in accordance with AML/CTF and other legal requirements. Acuant's AssureID with FRM allows for real-time multi-factor identity verification, starting with authenticating the government-issued ID then binding the individual to the ID via facial recognition match with image spoofing technology.
"AMLsystem is the latest evolution of products and services from XIXOIO," said Nikolay Rozhok, Founder of XIXOIO. "We offer investors the possibility of safe investments and the opportunity for companies to raise capital for their development. All of this is made transparent using the complete XIXOIO infrastructure including solutions integrated with banking and legal and regulatory institutions. Acuant was the perfect partner for us to enable strong security and meet regulations with minimal friction to users."
The core of XIXOIO's system is a completely new solution – IPCO (Initial Public Coin Offering). Which combines the advantages of Initial Coin Offering (ICO) with Initial Public Offering (IPO). The main benefits are the simplicity and flexibility offered by ICO and the possibility of regulation and control allowed by IPO. This solution called Tokenization offers a safe and credible way to raise capital for development.
"We are pleased to partner with innovative companies such as XIXOIO, that are solving problems and advancing technology in crypto and blockchain," said Yossi Zekri, President and CEO of Acuant. "Creating trusted, secure transactions is what Acuant stands for and this partnership is a great example."
Acuant's next gen Identity Platform is powered by AI with human-assisted machine learning to reduce fraud while providing a seamless customer experience and increasing conversions. Built to scale and meet KYC/AML regulations, Acuant has the industry's highest speed and accuracy rates for ID verification. Award-winning products include ID capture, AssureID authentication, facial recognition, Chip and Ozone ePassport authentication. Solutions are omnichannel and allow businesses to establish identities on premise or remotely via the cloud and mobile devices. Completing more than 3 billion trusted transactions worldwide, partners include Fortune 500 and FTSE 350 organizations and start-ups in all industries. For more information please visit www.acuantcorp.com.
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