Identity Verification

Uniqul

21st September
 
3:00 pm
 - 
5:00 pm
Live From Finland

About the Startup


About Uniqul:

Uniqul Technologies BV has developed a novel algorithm for Digital Identity Verification. Our technology uses Face recognition technology and Liveness tests to protect against identity fraud during Customer Due Diligence (CDD) or Know-Your-Customer (KYC) process in Mobile bank. 

Problem and Opportunity:

Identity fraud is the fastest growing crime. Over €14B has been lost by Financial industry in 2019 to Identity Fraud related crime, which includes money laundering, identity theft and fines paid by major EU banks. 

With the COVD-19 lockdowns and emergence of DeepFake technology, the CDD and KYC processes are exposed to even higher levels of risk.

We are offering Banking institutions and Insurance companies to upgrade their existing CDD and KYC processes with new Facial Recognition and Liveness test technology developed by Uniqul, to reduce losses related to Identity Fraud.  

Value Proposition:

Uniqul Technologies BV offers a Digital Identity Verification service, which can be integrated into existing Mobile Bank application via secure API. Our solution is used to verify the Face of the customer, by scanning a photograph from Identity Document such as Passport, ID or Driver’s License. A powerful Liveness test technology is designed to prevent Identity Theft which frequently happens during Identification process. Our technology is offered in 3-step and 2-step configurations for onboarding and identity verification. Customer is required to say a unique combination of 3 numbers, and move the head in specified direction. The underlying algorithms are protecting customers from all known types of attacks including replay attacks and DeepFake attacks. 

We are currently supplying an SDK and API which enables support of wide variety of Android phones. We are also able to provide an iOS and Web-based interface for identity verification. The service is fully GDPR and AML compliant.

What makes us unique?

Our unique selling point is a novel algorithm for preventing Video DeepFake attacks which we call Video-Hashing Technology. The DeepFakes are computer generated faces of existing or non-existing users, which are designed to surpass the identity verification process during a Man-In-The-Middle (MITM) attack. This Deep Learning technology is based on latest research in the field and has been developed through several grants from RVO. 

Business model:

We charge a small fee for each Onboarding or Identity Verification. Our banking customers would first onboard their existing users into a Facial recognition database, and then perform periodical Identity Verifications for preventing payout fraud. On average, we expect to perform 2-3 identity verifications per user per year. 

Go-to-market plan:

We are currently running a PoC project with Hakrinbank NV, which is the largest bank in Suriname. We are also in talks with several leading European banks as well as regulators, to perform a rollout of this technology in Europe in Q1 2021. 

Traction:

We have performed integration with Hakrinbank’s Mope Banking app, for a PoC project which is currently being performed. 

We have secured 2 R&D Grants from Dutch Enterprise Agency (RVO) to develop the Video Hashing Technology further. 

Management Team:

Our team is comprised of a mix of unique competences in the areas of Facial Recognition, Cybersecurity and Compliance. The company is headed by Ruslan Pisarenko, Director and CTO, an experienced Software Architect and Software Developer with nearly 10 years of experience working in Facial Recognition. Under his leadership, the team performed innovative projects in area of Facial recognition for such companies as ING Bank, Veikkaus, Lowell, UBS bank and others. Marko Maksimoff, COO and VP Marketing, is an experienced project manager and a serial entrepreneur with nearly 20 years of experience. He has significant experience working with Telecom, IT and Governmental sectors in Finland. 

Ask:

We are open to discuss both investment and commercial opportunities. We are raising a Seed Round (340k€) to hire additional team members to scale up R&D efforts and Business Development. 


Startup Details:

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