Steady Expansion in the Number of Implementing Companies and Usage Scenarios
Liquid Corporation, a member of the ELEMENTS Group, announces that its online identity verification service, “LIQUID eKYC,” has been awarded the No.1 spot for the fifth consecutive year in vendor sales share in the eKYC market, according to the market research report “ITR Market View: Identity Access Management / Personal Authentication Security Market 2024” published by ITR Corporation※1.
LIQUID eKYC adalah layanan yang menyelesaikan verifikasi identitas secara online dengan mengambil dokumen atau membaca chip IC dan mencocokkannya dengan selfie, serta memanfaatkan otentikasi pribadi publik (JPKI). Layanan ini telah diadopsi di berbagai industri termasuk keuangan, komunikasi seluler, toko barang bekas, layanan terkait ekonomi berbagi, aplikasi kencan, layanan perdagangan mata uang kripto, dan layanan terkait Web3 seperti layanan guild game blockchain. Baru-baru ini, penerapannya juga meningkat pada layanan luar negeri yang beroperasi di Jepang dan pada layanan yang verifikasi identitasnya tidak diwajibkan oleh undang-undang atau peraturan. Di tengah ekspansi yang stabil dalam jumlah perusahaan pelaksana dan skenario penggunaan, produk ini telah mencapai pangsa pasar No.1.
“LIQUID eKYC” with the largest share of the eKYC market for five consecutive years※2
The service provides online completion of identity verification required for online contracts, account registration, and account opening. We offer a method that takes a picture of an identification document or reads an IC chip and matches it with selfies, as well as a method that utilizes public personal authentication (JPKI / Smartphone JPKI). We can also support age verification for student discounts. Our proprietary AI, biometric, and OCR technologies have enabled us to maintain a low drop-off rate from the start to the end of the photo shooting process and the cumulative number of identity verification cases has exceeded 40 million.
Web site: https://liquidinc.asia/global/kyc-application/
※1,2 ITR “Tampilan Pasar ITR: Manajemen Akses Identitas / Pasar Keamanan Jenis Otentikasi Pribadi 2024 Pasar eKYC: Pembagian Nilai Penjualan berdasarkan Vendor (Perkiraan TA2019-TA2023)
Reference: Recent Trends of “LIQUID eKYC”
Achievement of 100% service uptime for three consecutive years
The system is available 24 hours a day, 365 days a year without service outages, including during system maintenance. In 2023, the service continued without interruption, achieving 100% uptime for the third consecutive year. This achievement is underpinned by a common cloud infrastructure provided to implementing businesses, allowing concentrated investment in security measures for enhanced security and performance. Additionally, we have continuously improved our development and operation processes based on ISMS and FISC safety standards to meet the strict security standards required by industries such as financial institutions and major telecommunication carriers.
Approximately 300 functional improvements and developments annually.
Based on dozens of KPIs (e.g., face identification rate) measured monthly, we are making functional improvements and developments for smoother identity verification for both users and businesses. Our focus is on finding the right balance between the high image quality demanded by businesses and the ease of photographing for users, as well as ensuring a user experience that prevents user drop-off. With a flexible development structure that allows for short release cycles, we quickly provide functions based on the needs of implementing businesses and business trends. In 2023, we accomplished approximately 300 functional improvements and developments. In addition to these improvements, we are also engaged in foundational enhancements in image recognition technology from R&D. This includes improving the ability to detect facial forgeries and enhancing the accuracy of AI-based quality judgment of captured images, using user data accumulated in a common infrastructure.
About Liquid
Liquid aims to create a seamless world where all of the world’s approximately 8 billion people can easily and safely use all services as they are by automatic and ubiquitous authentication. We provide our own Digital ID, KYC and Authentication service, where users can prove their identity anytime, anywhere in the world with their smartphone or face. We are expanding our service globally and use the know-how accumulated under the Japanese strict law and rule. We adapt our operations and services flexibly and quickly to changes in the required legal and security framework.
For more information, visit: https://liquidinc.asia/global/
