Liquid Partners with LINE Credit to Enhance Mobile Loan Verification with LIQUID eKYC

Liquid Partners with LINE Credit

In a significant move towards enhancing the digital banking experience, Liquid, Inc., a Tokyo-based company specializing in biometric authentication, has teamed up with LINE Credit Corporation to introduce LIQUID eKYC, an online identity verification solution for LINE's mobile loan service, LINE Pocket Money. This collaboration aims to streamline the application process for users seeking quick and convenient access to loans through their mobile devices.

Seamless Online Verification

LIQUID eKYC revolutionizes the verification process by allowing applicants to complete their identity confirmation entirely online. Users will simply need to capture a selfie alongside an official identification document, such as a driver's license or government-issued ID. This quick setup ensures that applicants can receive approval without the need for face-to-face interactions, drastically reducing waiting times.

The verification process is supported by Liquid's Business Process Outsourcing (BPO) services that guarantee a swift review period, with a target completion time of just 15 minutes for identity checks. This rapid service addition aims to enhance customer satisfaction and encourage more users to engage with the LINE Pocket Money service.

About LINE Pocket Money

LINE Pocket Money offers unsecured loans starting from just 100 yen, and it's available to users 24/7 via the LINE app, excluding maintenance downtimes. This service employs a unique scoring model that incorporates AI technology alongside traditional credit assessment methods, enabling a more inclusive lending approach that goes beyond typical credit histories. As it approaches its fifth anniversary next August, LINE Pocket Money boasts over 200 billion yen in total loans disbursed, reflecting its growing popularity among users.

Cutting-Edge Technology with LIQUID eKYC

Recognized as the top service in the eKYC market for five consecutive years, Liquid's LIQUID eKYC provides critical identity verification solutions for various online activities, including account creation and document signing. Applicants are relieved of the burdensome traditional methods of verification, utilizing advanced technologies such as AI, biometric recognition, and Optical Character Recognition (OCR). The platform has exceeded 60 million identity checks to date, demonstrating its efficacy and user trust.

Furthermore, LIQUID eKYC accommodates various age verification needs, such as student discounts, further broadening its applicability in different scenarios.

Liquid’s Vision and Expansion

Liquid aims to create a seamless digital ecosystem where individuals can access services effortlessly while ensuring security through advanced biometric verification methods. The company is dedicated to enhancing online identification for various sectors, including financial transactions, telecommunication contracts, and real estate dealings. By fostering a cross-industry framework, Liquid aims to combat fraud while maintaining high levels of accessibility and safety for its users.

With its headquarters located in the Nihonbashi Life Science Building in Tokyo, Liquid was established in December 2018. It specializes in image analysis and big data processing related to biometric information and human behavior, consistently seeking to innovate its authentication solutions for diverse markets.

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As this partnership continues to develop, it promises to reshape how individuals approach borrowing and identification in the digital age, offering a foundation for future innovations within the fintech landscape.