#Japan #Tokyo #LIQUID #eKYC #My Number Card

Liquid Group Revolutionizes Identity Verification with eKYC

In a significant development for digital identity verification, Liquid, part of the ELEMENTS Group based in Tokyo, is set to enhance the online identification process using My Number Cards on smartphones. With plans to roll out this new feature in November 2025, the technology conforms with the criminal proceeds transfer prevention act, commonly referred to as Han Shuhou.

Introduction of My Number Card in Smartphones

In June 2025, Liquid will begin the integration of My Number Cards into smartphones, enabling users to securely read their identification details through the wallet functions on their devices. Within the first week of the service launch, approximately 600,000 users registered, indicating a positive trend for future adoption. The streamlined approach is designed to alleviate common pain points associated with traditional verification methods, which often required users to install apps and handle various data inputs during the process.

What is LIQUID eKYC?

LIQUID eKYC, or Electronic Know Your Customer, will employ a method that allows for identification solely through biometric data, eliminating the need for manual entry of passwords or physical cards. Known as the 'ル方式', this verification method utilizes data securely stored in the device's wallet. To verify one’s identity, users will simply follow these steps:
1. Pre-register their My Number Card in the smartphone wallet.
2. Use LIQUID eKYC to initiate the wallet function.
3. Complete verification using only biometric data.

Key Features of LIQUID eKYC

1. Biometric-Only Verification: Users can complete the identity verification process without the need for applications, encoding, or passwords. This is expected to significantly decrease user drop-off rates during the identification process.
2. Automatic Real-Time Validation: Utilizing encrypted My Number Card information, the verification procedure automates the assessment to detect forgery and alterations, allowing for immediate feedback to the user and reduced operational costs for businesses.

Unique Offerings from LIQUID eKYC

The 'IC Omakaset Pack' will facilitate an easy integration of various identification methods, from My Number Cards to driver’s licenses. This package presents a comprehensive suite for businesses that can implement multiple reading methods through a single API. It has been designed to ensure that users always experience the most efficient verification flow, minimizing possible points of exit during the application process.

Comparatively, with traditional methods that require application downloads, the new system bypasses these hurdles, providing a smoother, more user-friendly identification pathway. It also maintains high approval rates, boasting nearly 99% automation in identification approvals when using LIQUID eKYC.

The Market and Future of eKYC

LIQUID eKYC currently leads the market, being recognized as the top service provider in eKYC solutions for six consecutive years. This service streamlines essential verification steps during online contracts, account setups, and banking procedures. Utilizing state-of-the-art AI and biometric recognition technologies, it promises reduced dropout rates from initial engagement through to the completion of verification tasks. As of now, Liquid has conducted approximately 130 million identification checks and collaborates with around 600 companies.

About Liquid and ELEMENTS Group

Founded in December 2018, Liquid aims to leverage biometric principles to offer secure and straightforward access to various digital services for individuals worldwide. The implications of this technology stretch across several facets of daily life, including financial transactions and real estate dealings, focusing on enhancing both security and convenience for users.

With headquarters in Tokyo’s Nihonbashi area, the ELEMENTS Group, established in 2013, continues to innovate in biometric authentication, using image analysis and machine learning techniques to develop solutions that cater to personalized optimization in every industry sector. More details about their services can be found on their official website here.

Conclusion

With Liquid's innovations in electronic identification, the future of personal verification is shaping up to be more seamless and secure than ever. As digital solutions continue to expand, Liquid ensures compliance with legal standards while prioritizing user experience and technological advancement.