#Japan #Tokyo #LIQUID #LIQUID eKYC #NP Finance

Transforming Online Lending with LIQUID eKYC

In a significant move to enhance the efficiency of online lending processes, ELEMENTS Group's Liquid Corporation has launched its innovative online identity verification service, LIQUID eKYC. This service, designed specifically for NP Finance, a subsidiary of Net Protections, aims to streamline the loan application process for businesses and individual entrepreneurs through its unique technology.

The Challenge of Online Identity Verification

As the online lending landscape evolves, ensuring a seamless and secure verification process is paramount. Traditional methods often involve lengthy paperwork and in-person verification, which can deter potential applicants. With the introduction of LIQUID eKYC, the focus shifts to a more modern, efficient approach that utilizes image recognition AI to significantly reduce the chances of applicants abandoning the process midway.

How LIQUID eKYC Works

The LIQUID eKYC service enables users to complete their identity verification online, requiring them to simply take a photo of their identification documents along with a selfie. This method is not only user-friendly but also allows for real-time feedback. The AI technology provides specific error messages if the images do not meet certain requirements, further aiding in the completion of the verification process. This increased clarity helps minimize drop-offs, ensuring that users can navigate the process with ease.

Additionally, the service guarantees that the assessment of identification documents is handled through LIQUID eKYC’s BPO service, which alleviates operational burdens for NP Finance by automating the review process.

The Benefits of NP Handy Lending

NP Handy Lending is an online lending service that leverages the extensive purchasing and payment data from NP Payment, one of Japan’s largest B2B payment systems, to facilitate quick and efficient loan screening. Unlike conventional loans that may involve lengthy approval times, NP Handy Lending allows for convenient transactions, typically completing fund disbursement within three business days. This rapid lending solution is designed to foster business growth among entrepreneurs and small business owners.

Future Developments

Looking ahead, the integration of more advanced verification techniques, such as the use of IC chips from driver's licenses and My Number cards, is slated for implementation in the near future. This advancement will further solidify Liquid's commitment to enhancing security while streamlining the identity verification process.

The Success of LIQUID eKYC

LIQUID eKYC has set a benchmark in the industry, holding the No.1 market share in the eKYC segment for six consecutive years as per ITR Market View. This service not only facilitates online contracts and account registrations but also complies with Japan’s rigorous identity verification requirements. Its unique ability to match selfies with identification visually demonstrates Liquid's dedication to providing secure and user-friendly solutions.

As of now, Liquid has facilitated approximately 130 million identity verifications, with business contracts exceeding 600, showcasing the extensive applicability and demand for such a service in today's digital landscape.

About Liquid Corporation

Founded in December 2018, Liquid is on a mission to create a seamless world where everyone can access various services effortlessly and securely. Their efforts are not limited to online lending; they also cater to diverse sectors including telecommunications and real estate, drawing upon their vast expertise in biometric authentication technologies and big data analysis.

Through services like LIQUID eKYC, LIQUID Auth, and digital ID wallets, the company plays a pivotal role in securing transactions across various platforms.

To learn more, visit LIQUID eKYC.

Conclusion

In conclusion, Liquid's strategic introduction of LIQUID eKYC to NP Finance represents a significant step towards enhancing the lending experience, allowing businesses to focus on growth while ensuring secure and efficient operations. As the financial services landscape continues to evolve, such innovations will be crucial in shaping the future of online lending.