#Japan #Tokyo #LIQUID #eKYC #AI Fraud Prevention

Liquid's Innovative AI-Driven Verification Option

In an era where identity fraud is increasingly becoming sophisticated due to advancements in technology, Liquid Inc., a subsidiary of the ELEMENTS Group, has stepped up to the challenge by introducing a state-of-the-art feature within its online identity verification service, known as LIQUID eKYC. This innovative option is designed to counter the misuse of generative AI that has led to a surge in fraudulent applications, particularly in platforms that require age verification, like dating apps or CtoC matching services. With this new offering, Liquid aims to create a secure environment for users without sacrificing convenience.

The Growing Need for Security

The rise of falsified documents and deepfake technology has made it easier for fraudsters to impersonate legitimate users. As regulations evolve, particularly the mandate for IC chip reading in identity verification for account openings or mobile contracts set for 2026, the industry has recognized a pressing need for a robust verification process. However, traditional IC reading methods necessitate app installations, which can deter users. Therefore, Liquid's innovative solution leverages a hybrid verification system, combining AI image analysis with human oversight, ensuring high accuracy at a fraction of traditional costs—around one-tenth.

Features of the New Option

The generative AI fraud prevention feature is an extension of Liquid's automated verification process. By implementing a hybrid model that employs both artificial intelligence and manual checking by experienced professionals, Liquid has been able to achieve high precision and low operational costs. Grounded in over 130 million identity verification cases boasting extensive expertise in compliance, this unique operational design allows Liquid to offer its service at an astonishingly low rate starting from 10 yen per verification.

Key Aspects

• - Detection of counterfeit identity documents created by generative AI.
• - Verification to ensure no substitution of facial images through deepfakes during facial recognition.
• - Identification of digital fraud, including attempts to inject fake images or videos into applications or websites.

Cost-Effective Solutions

Liquid not only provides a comprehensive fraud detection mechanism but has also restructured its operations to deliver this at an unprecedentedly low price point. Previously, a conventional verification might incur costs upwards of 100-150 yen per instance, while Liquid's new offering provides the necessary fraud checks for as low as 10 yen per case.

Operational Efficiency

One distinguishing feature of Liquid’s new offering is its operational speed. By focusing specifically on fraudulent indicators, the platform allows users to review multiple applications simultaneously. This efficiency translates to a processing time of approximately 10-20 seconds for ten applications, a stark contrast to the previous requirement of 60 seconds per application in compliance contexts.

Expected Applications

This new verification option is especially beneficial for services utilizing image-based identity confirmation through photography, where maintaining security while minimizing costs is crucial. Potential use cases include:

• - Age verification for dating apps and convenience store self-checkouts.
• - Verification of participants and sellers on CtoC platforms.
• - Background checks for gig jobs and employers in the freelance economy.
• - Increased security for high-risk transactions, including electronic contracts in real estate.

The Future of Identity Verification

Liquid continues to solidify its position in the market, previously ranked as the top eKYC service provider for six consecutive years. With its innovative technology encompassing AI, biometric recognition, and OCR that minimizes drop-off rates during the verification process, the company has successfully completed approximately 130 million identity verification cases with a client base of around 600 companies. As Liquid forges ahead, it stands committed to providing security, convenience, and efficiency across various sectors, promoting a smooth societal transition towards digital identity verification.

For more detailed information about Liquid's offerings, visit the LIQUID eKYC website.