Shiga Bank Enhances Identity Verification with Liquid's eKYC Solution

Shiga Bank's New Approach to Identity Verification

In a groundbreaking development for banking services, Liquid, a subsidiary of the ELEMENTS Group, has introduced the 'IC Omakase Pack' for Shiga Bank’s online account opening services. This innovative identity verification solution combines the Japan Public Key Infrastructure (JPKI) with facial image capture technology, addressing potential vulnerabilities in existing verification practices.

The Rise of Online Banking

Since May 2023, Liquid has partnered with Shiga Bank, located in Otsu City, to streamline its online banking services. As the demand for secure and efficient banking solutions continues to grow, the introduction of the 'IC Omakase Pack' marks a significant step in enhancing security measures for banking transactions.

Addressing Vulnerabilities in JPKI

With the aim of safeguarding customer information and preventing fraudulent applications, the 'IC Omakase Pack' directly targets a known loophole in the JPKI framework. Previously, if an individual possessed both the My Number Card and its PIN, it was possible for third parties to submit fraudulent applications. By incorporating facial imaging technology into the process, this new solution fortifies identity verification, making unauthorized access more challenging.

Streamlining the Verification Process

The 'IC Omakase Pack' also leverages AI to optimize the verification process, offering personalized assessment procedures that minimize processing times. By automating key aspects of identity confirmation, Shiga Bank can enhance operational efficiency while upholding tight security protocols.

In choosing Liquid's 'LIQUID eKYC' service, Shiga Bank recognized the provider’s longstanding reliability and performance in managing online identity verification—a crucial factor given Liquid's established record in the field. This partnership further solidifies Liquid's position as a leader in the eKYC market, having maintained the number one market share for seven consecutive years.

About Liquid

Founded in December 2018 and headquartered in Tokyo's Chuo Ward, Liquid specializes in biometric authentication, aiming to leverage technology to streamline identity verification processes across various sectors including finance, telecommunications, and real estate. The company is focused on creating a secure environment where everyone can access online services effortlessly.

With a total of approximately 150 million identity verification cases and 700 corporate clients, Liquid's innovative solutions are helping businesses mitigate risks associated with identity theft and fraud.

Shiga Bank's Commitment to Community

Founded in 1933, Shiga Bank is dedicated to providing personalized banking services to the local community in Shiga Prefecture. The bank aims to support regional economic growth by offering loans and services that cater to both individuals and businesses. Its collaboration with Liquid emphasizes its commitment to leveraging modern technologies for increased security and service efficacy.

The Future of eKYC Solutions

As more institutions recognize the importance of robust identity verification processes, Liquid’s offerings, including 'LIQUID eKYC', are likely to become the standard for online banking services. The integration of biometric data and facial recognition will not only enhance user experience but also advance the security framework necessary for a digitized banking future.

For more information about Liquid's solutions or to explore their impact on the banking industry, visit LIQUID eKYC or learn more about Shiga Bank’s services at Shiga Bank.