ONE ZERO Digital Bank Chooses AU10TIX to Power its Customer Verification System and KYC (Know Your Customer) Process

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May 16, 2022, 02:00 ET

TEL AVIV, Israel and NEW YORK, May 16, 2022 /PRNewswire/ -- ONE ZERO Digital Bank is proud to announce it has chosen AU10TIX to power its customer verification system and KYC (Know Your Customer) platform. The Bank of Israel, Israel's central bank, gave ONE ZERO Digital Bank its stamp of approval to use AU10TIX's technology.

AU10TIX's technology allows ONE ZERO Digital Bank to perform identity verification to new customers as part of the onboarding process as well as every activity that requires re-verification, such as making changes to a bank account, resetting a password and any banking activity that requires identity verification.

The AU10TIX solution verifies a new customer's identity by performing a biometric comparison of a submitted identification to a selfie.

In addition to verifying and re-verifying IDs, the AU10TIX technology is capable of identifying emerging advanced identity fraud, known as synthetic fraud, which is nearly impossible for the human eye to detect. AU10TIX's identity intelligence platform has been successfully implemented with many of the world's largest companies, including PayPal, Google, Uber, Bird, Payoneer, eToro, and Fiverr. In addition, Nordea, Santander, Saxo Bank and many other leading banks are already working with AU10TIX technology.

Identity intelligence and verification solutions are in ever-increasing demand due to the COVID-19 pandemic, which accelerated the move to remote work and business around the world. As the financial sector and payments moved to the digital world, the need to detect and overcome identity fraud became a top priority for many companies.

ONE ZERO Digital Bank is owned by Professor Amnon Shashua, a founder and CEO of Mobileye. Throughout his career, Professor Shashua has played a key role in artificial intelligence breakthroughs and is currently working towards introducing autonomous vehicles to Israel.

ONE ZERO Digital Bank has successfully completed a pilot program and is onboarding its first 75,000 new customers, who were on a waiting list. ONE ZERO Digital Bank received regulatory approval from Bank of Israel and began onboarding those new customers with over 250 employees. The company is leveraging artificial intelligence which enables bank employees to offer additional money management services by means of online chat and phone.

Amichai Levy, CTO of ONE ZERO Digital Bank, says, "The relationship between bank and customer is based on trust and security. ONE ZERO is under the same regulation as any bank in Israel, and we invest enormous resources in cyber security and privacy. Thanks to AU10TIX, ONE ZERO Digital Bank can ensure our customers a secure means of identity verification with zero human intervention."

Ron Atzmon, Founder and Acting Chairman of AU10TIX, adds, "The combination of 100% automated, forensic detection and global coverage enable our customers to continue scalable growth, improve their KYC (know your customer) capabilities with industry-leading fraud detection capabilities while saving on costs."

About AU10TIX
AU10TIX, the global identity intelligence leader, is on a mission to obliterate fraud and further a more secure and inclusive world. The company provides critical, modular solutions to verify and link physical and digital identities so businesses and their customers can confidently connect. Over the past decade, AU10TIX has become the preferred partner of major global brands for customer onboarding and customer verification automation—and continues to work on the edge of what's next for identity's role in society. AU10TIX's proprietary technology provides results in less than 8 seconds, enabling businesses to onboard customers faster while preventing fraud, meeting compliance mandates and, importantly, promoting trust and safety. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF). For more information, visit AU10TIX.com. 

About ONE ZERO Digital Bank
ONE ZERO Digital Bank is the first internet bank in Israel. ONE ZERO Digital Bank is the first newly licensed bank in Israel in 43 years. ONE ZERO Digital Bank is fully owned by Fin-Digit Incorporated, which is owned by Professor Amnon Shashua. The bank offers the same services as do other banks in Israel. As part of ONE ZERO Digital Bank's launch, individuals and households in Israel may enroll as new customers. ONE ZERO Digital Bank has no physical branches – all banking activity is online.

Media contact: [email protected]

SOURCE AU10TIX