PCM Volume 5 - Issue 3: Money 20/20 Asia Special Edition by PCN Magazine

vol.5. issue 3. March, 2019.

PCM

COVER STORY:

Your gateway to the world of payments

SPECIAL EDITION

JELMER ROTTEVEEL

BLANKA LIGETI

VERNA KWAN

Marketing and Business Development Manager

Production Editor and Head of Creative

Digital Marketing Executive

jelmer@teampcn.com

blanka@teampcn.com

verna@teampcn.com

PCM is designed by Blanka Ligeti, Payments & Cards Network. Art and photos © Payments & Cards Network, pexels.com excluding advertisments and company logos. PCM™ is property of Payments & Cards Network, Keizersgracht 477, 1017 DL, Amsterdam, The Netherlands. All material contained within PCM is the property of Payments & Cards Network. All other product and service names may be trademarks of their respective companies. ©2019 Payments & Cards Network. All rights reserved. Reproduction of any kind is strictly prohibited without express prior written consent of Payments & Cards Network.

ADVERTISING INFORMATION For details, please contact jelmer@teampcn.com

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THANKS TO OUR PARTNERS!

CONTENTS

COVER STORY: EXCLUSIVE INTERVIEW WITH PUMAPAY

THOUGHT LEADER | HPS Enabling the Future Now with HPS

EXPERT INTERVIEW: HPS

THOUGHT LEADER | CURRENCYCLOUD Digital KYC – why it’s finger-clickin’ good

MONEY 20/20 ASIA Attending Companies

THOUGHT LEADER | TRUSTLY Going all in: What e-commerce merchants can learn from the i-gaming industry

THOUGHT LEADER | ONFIDO Bringing Payments To Your Fingertips: How Biometrics Are Changing Payment Security And Access

JOBS & EVENTS Check out our hottest jobs and events from the industry

COVER STORY: EXCLUSIVE INTERVIEW WITH PUMAPAY PumaPay is a next generation blockchain-based payment system aiming to bring cryptopayments into the realm of everyday life, facilitating cryptocurrency transactions for both individuals and businesses. PumaPay is an innovative cryptopayment processing system that combines the advantages of blockchain with the flexibility and ease of use of payment cards. This enables convenient payments and billing in cryptocurrencies. The PMA token is the means of value transfer within the PumaPay payment system. 1. Can you tell us about PumaPay, how did you come up with this business idea? Having worked in executive positions in various online firms that dealt with high volume transactions, I soon realized the limitations posed by credit cards. At the time, I was closely watching developments regarding the blockchain and was aware of the benefits of this innovative technology and its possibilities of transforming the payment industry. I have always been very passionate about developing a blockchain solution that would come to exist alongside, and even eventually supplant, the use of credit cards in financial transactions. The belief that we could streamline and simplify payment processing has been the focus of our efforts here at PumaPay, and we are working towards implementing cryptobilling for businesses worldwide. 2. We understand PumaPay provides payments solutions by employing the PullContract, can you explain more about this innovative technology behind your service? PumaPay is based on the PullPayment contract, a unique architecture of smart contracts inversing the mechanics of transactions. Instead of having the customer ‘send’ or ‘push’ their funds to the merchant, the PumaPay protocol allows the merchant to connect to the customer’s wallet and ‘pull’ the funds based on a set of predefined terms

4 | COVER STORY |PumaPay THOUGHT LEADER |Trust EU Affairs

and subject to the customer’s advance acceptance. In this respect, businesses and consumers can set multiple parameters and limitations, so the payment mechanism can work to their needs. The innovative architecture opens the door to a whole universe of payment mechanisms that are either impossible or unfeasible when relying only on a ‘push’ action! The PumaPay PullPayment protocol enables various payment scenarios, including subscriptions, top-up and pay-per-time billing models which have been impossible on the blockchain before. 3. How is PumaPay different from other cryptopayment companies? PumaPay came into being and has been developed by a group of professionals who have years of experience in online businesses and have dealt with the complexities of payments and online transactions. For us, the most important thing was to develop a usable solution that would be adopted by both businesses and individuals. This is why, when the blockchain started to take shape, we were looking for solutions where blockchain technology could improve our businesses and replace the already outdated approaches and technologies in the billing and payments industry. From the beginning, we were thinking in terms of solutions and everyday transactions, so our product is unique in that way. While there are a variety of cryptopayment solutions out there, PumaPay immediately sets itself apart

because its protocol allows users to process transactions using familiar billing methodologies by combining the flexibility of credit cards with the added benefits of the blockchain. It is well known that current payment solutions, such as credit cards, come with multiple limitations and fees that usually burden the business. At the same time, cryptocurrency payments, in the form they are available now, are hard to incorporate into the everyday needs of individuals and businesses. It is difficult, for example, to pay for your gym subscription with your cryptos, or you have no idea which companies might accept PMA. With our advanced billing models, users can pay for their subscriptions through their PumaPay cryptocurrency wallet. We want to create continuity so that both individuals and businesses can continue using all the familiar billing models they did with credit cards, without introducing any unnecessary complexity. On the contrary, our goal is to provide them with the flexibility and convenience of credit cards. Such convenience means that in the future, users of our mobile wallet app, will be able to use a variety of payment options and pay with any crypto they want. Our PumaPay Wallet will also be authorized to automatically convert such cryptos to PMA tokens whenever a payment is due. As we continue to improve our wallet API, released since late 2018, we will enable third party wallets to integrate the functionality of PumaPay’s PullPayments into their offering, making it easier for individuals to utilize PumaPay’s flexible payment scenarios in their familiar wallet environments. PumaPay Pride is another unique and important component which will help the usability of our solution. A network of Early Adopters, PumaPay Pride will list all companies which have committed to adopt our solution and which will be rewarding their customers for paying with PMAs. Individuals will easily find companies which accept cryptopayments and will be able to immediately use their cryptos to purchase goods and services. We are also working on integrating PumaPay Pride with the mobile wallet app, so that customers can find on the map businesses accepting PumaPay near their location. PumaPay aims to help businesses tap into the $120b worth of cryptocurrency worldwide – which we believe is a remarkable selling point. 4. We understand that PumaPay raised 117 million dollars in its ICO last year. However, it was a private sale rather than a public one. Why did you make this decision? Unfortunately, due to prevailing regulatory conditions, we had decided not to conduct a Crowdsale, and instead opt for a private sale. We were aware that an open sale

YOAV DROR CEO Yoav Dror is the CEO of PumaPay, one of the biggest ICOs in 2018, raising over $117m. With an MBA and over 20 years of experience in heading online high-transaction companies, Yoav is now leading the team developing PumaPay’s blockchain-based PullPayment protocol, enabling businesses to easily accept cryptocurrency payments.

ABOUT PUMAPAY PumaPay is a comprehensive advanced billing system that decentralizes a whole layer of transaction processing services, combining the best of traditional methods (credit cards) and blockchain-based solutions. More than 100 brands from different industries, including Wix, Iron FX, and CCBill, have committed to use PumaPay.

would be potentially distractive, diverting our efforts from creating the protocol to legal considerations. We knew that we needed to put our product first, even at the price of losing the potential contribution of our loyal community. In order to allow as many qualified contributors as possible to participate, we extended the private sale and lowered the minimum contribution amount to 50,000 USD. The Private Sale was only open to accredited investors subject to the company’s KYC and AML policies. 5. What are some of your insights on the future of blockchain technology in the payments industry? Blockchain and distributed ledger technology (DLT) has already began changing the payments industry and the future holds many possibilities. We believe that, slowly, blockchain technology will gain the trust of banking institutions and adopted widely. The broad implications for payments, especially improving settlements’ time and security of cross-border transactions are hard to ignore. Additionally, the ability to speed up the payments process, improve efficiency when it comes to crossborder payments, and reduce fraud are elements that will impact its future potential and use, as more finance professionals and lawmakers reassess its implications. 6. What are some of the future developments of PumaPay in the coming period? During the course of the year, we will be releasing and working on the various components of our protocol. We are preparing many updates for the PumaPay Cryptocurrency Wallet App, including the 6 | COVER STORY |PumaPay

addition of a feature that will facilitate purchasing cryptos within the wallet with a credit card. In the first half of the year, we aim to add in-wallet support for Bitcoin Cash and Bitcoin SV and maybe a few more coins. The team is also working on rewriting the wallet as a native app, which will bring significant improvement in performance and user experience. We expect this to be finalized during Q2 2019. As we work on additional advanced billing models, these will be supported by the Wallet as soon as they go live. Later this year, users will be able to pay in any cryptocurrency by using any of our payment options, without being limited to PMA. Our wallet will automatically convert cryptos to PMA tokens. We will continue improving our wallet API which will allow third party wallets to integrate the functionality of PumaPay’s PullPayments into their offering, enabling millions to use PumaPay’s advanced billing models in their familiar wallet environments. We plan to release the Business Console MVP which will enable businesses to register with PumaPay in order to set up and manage their cryptobilling, thus generating QR codes to be used by customers to scan and make payments. Also, in the first half of 2019, we plan to launch the much anticipated PumaPay Pride MVP - a comprehensive directory of all the businesses which have committed to adopt the PullPayment Protocol. PumaPay Pride will later be integrated into the mobile wallet app so that businesses can promote special offers directly to users inside the wallet. We expect to fully integrate PumaPay Pride with the wallet app within Q2 2019. During the spring and summer of this year we plan to focus solely on the next generation of our payment system and the enhanced API. This includes an improved architecture for our framework, protocol and products. Then, we will spend Q3 and Q4 of 2019 focusing on the massive adoption of our protocol and integration with the existing Early Adopters. As we plan to start testing the solution with 3-5 new companies which will integrate the protocol in March, we aim to steadily continue with multiple integrations in the second half of 2019. In Q4, we expect to introduce the Processing Nodes or processors who will process transactions using the Proof of Stake (PoS) method. Based on the PoS algorithm, processors will validate PullPayment transactions according to the amount of PMA tokens they will hold. The more PMA tokens they hold, the more processing power they have. Finally, we will end 2019 with a more decentralized cryptopayment system that meets all the needs of both businesses and customers.

REINVENTING EVERYDAY PAYMENTS

ENABLING THE FUTURE NOW WITH HPS

Technology is being indiscernibly injected into all domains of our lives and the alignment between the physical and digital worlds is being continually condensed. Artificial Intelligence is beginning to infiltrate many technologies, from connected devices to applications and data analytics tools. Blockchain technology is also continuing its trend of expansion and cryptocurrency is growing in appeal to the central banks. Thanks to this surge in technological advances and the democratization of the smartphone, consumers are now better connected, better informed, and are consequently more demanding. Data Analytics is now at the center of the battle for customer experience, and payments, in the world of commerce, is becoming an almost “invisible” commodity. This digital transformation of the payments industry, coupled with the increasingly active role of regulators, is driving the development of a new open and collaborative ecosystem.

to the 16th of March, in Marrakech under the theme “Enable the Future Now”.

Banks, fintechs, ecommerce giants, leading technological companies, as well as all other new entrants are constantly repositioning themselves in an ever-expanding and increasingly dynamic payments market. HPS together with its main solution ‘PowerCARD’ is no stranger for adjustments in the ever thriving and changing world in payments. This is one of the many reasons that HPS organized its eighth PowerCARD Users Meeting from the 13th

The conference gathered more than 400 participants from over 80 different countries, representing banks, payment processors, merchant acquirers, international institutions and independent experts, all coming together to debate and discuss current topics of relevance to the payments industry. The event also constitutes a unique international forum to learn from the experiences of a wide variety of Users from the PowerCARD ecosystem.

Mohamed Horani, Chairman & CEO at HPS said: “We look forward to welcoming the payments community to the 8th edition of our PowerCard User Meeting. The event was designed to bring together banking, payment and fintech professionals with the aim of exploring the future of payment technologies and the challenges, as well as opportunities, the new ecosystems bring along.”

ABOUT HPS

HPS is a multinational company and a leading provider of payment solutions for issuers, acquirers, card processors, independent sales organisations (ISOs), retailers, mobile network operators (MNOs), and national & regional switches around the world. PowerCARD is HPS comprehensive suite of solutions that covers the entire payment value chain by enabling innovative payments through its open platform that allows the processing of any transaction coming from any channel initiated by any means-of-payment. PowerCARD is used by more than 400 institutions in over 90 countries. HPS is listed on the Casablanca Stock Exchange since 2006 and has offices located in major business centres (Africa, Europe, Asia, Middle-East and America).

8 | THOUGHT LEADER |HPS

For more information: www.hps-worldwide.com For more information about the PowerCard USER Meeting 2019: https://powercard2019.com

THEMES THAT WERE DISCUSSED AT THE POWERCARD USERS MEETING 2019: PowerCARD Users Club An introduction of the platform adopted by the User Club in the spirit of maintaining and evolving client/partner relationships, with the underlying hope of creating a multi-channel communication outlet to foster a PowerCARD sense of community. PowerCARD Today An overview of what PowerCARD has become today, enumerating the different changes enacted at the wake of this gathering’s 2017 Edition, along with the different product enhancements and ensuing achievements during these last two years. New trends in the payment arena Understanding the crucial nature of our Industry’s volatility, Experts and seasoned analysts will be decorticating the present Payment Trends, analyzing the trends and their effects on all actors of our ecosystem. Preparing for a mobile-first payments landscape Mobile Payment, driven by the new age of Digitalization, has seen exponential growth and has been met with matching regulation and infrastructure upgrades. This session hopes to bring about the understanding of the overall technology and implications-of-use as a first layer, and as a second layer the analysis of the attractiveness of Mobile Payment through the exploration of relevant case studies. Exploring current opportunities and challenges: regional focus Taking HPS’ own structure as case study, this session aims to clarify the different opportunities and challenges that arise in our Industry under the influence of geo-economic factors. Through its presence in the Middle East, Asia, Europe, Americas, and Africa, this will be HPS’ view and understanding of the opportunities and challenges tied to the global payments landscape. Unifying your business with PowerCARD In an industry that values efficiency like no other, delivering payment services becomes governed by the “more for less” specification. It is in those lines that this session reviews PowerCARD as a Single Technology Platform, assessing the perks and implications of the technology through notable case studies. Embracing the Open Banking Era with APIs With the industry finding itself being driven to open access, market players are now forced to consider the challenges Open Banking brings forth and to learn how to embrace the change to maximize opportunities. This session will delve into these challenges and discuss the most effective way to capitalize on this present era of Open Banking: APIs. Being Digital Today Digitalization, since its introduction to the Payments Industry, has completely reshaped and transformed the ecosystem whether in terms of players, channels, or means. A wave that has yet to break, digitalization ushers in a great age of opportunities and challenges that this session will be thoroughly exploring. Security and regulation in a 24/7 world At the wake of the tectonic shift that occurred in the industry, caused by the birth of new technologies and regulations, Security has become of even greater cruciality. This session will discuss the efforts of adapting Security to the transformations of Payments, and to the new regulations (GDPR, PSD2 …).

EXPERT INTERVIEW: HPS HPS present itself at an enabler for innovative payments. How do you see the future of payments and how does HPS work towards this?

In the next years, we will see the expansion of biometrics. This technology opens the door to nearinfinite possibilities. Today, we are seeing payments disappear. Tomorrow, we will see payments seamlessly integrated into our day-to-day lives, without us even noticing. We believe that biometrics will truly take the user experience to the next level. Human augmentation is also big trend to watch out for along with Blockchain, but this technology is still in the early stages of development. Blockchain is already the technology behind cryptocurrencies, but it could be applied in other areas such as transactions or data security. Lastly, artificial intelligence is another hot trend, with so many use cases on the horizon. We strongly believe that all of these innovations, and the ones yet to come, will not only have an impact on the user experience, but will reinforce security, protection and trust within the payments ecosystem. This is what we want for our customers and what we are working on creating. The PowerCARD software is currently working across 5 different continents and 90 different countries. How do you anticipate the different payment situations and needs across different regions?

It is both a challenge and an opportunity that can be managed at different levels. First, thanks to our 400+ users in 90+ countries, we are able to consolidate in one single version of the software all specific developments we have been developing around the world. The beauty of “globalisation” is that one innovation for one country may become an 10 | EXPERT INTERVIEW |HPS

innovation for another country. This is the first level of anticipating different payment situations. Secondly, regulation is also playing an important role since regulation is usually local/regional before becoming global. Finally, global players are also influencing all regions but may start by only one region. If we take the example of ApplePay: it started in US, then developed in a few countries but still not available in all countries. If you are one of the first providersof this solution, then you have the opportunity to bring something new to many other markets. So clearly, for us, the opportunity is really to be exposed worldwide and thanks to our consolidation into one single piece of software we are able to serve all our other customers. What geographies are you currently mostly focussing on?

We focus on all geographies! Our three main and historical offices are in Morocco, France and UAE. They support the business for Africa, Europe and Middle East. Two years ago,we opened an office in Singapore to strengthen our market share in Asia. This year we are opening an office in the US to do the same for Northern America. Recently Société Générale selected HPS to develop their payment operations in Africa. What will this entail and how much of an impact can we expect for that region?

HPS offers its PowerCARD software suite in a SAAS model covering the entire payment value chain and all international and domestic schemes to enable Société Générale to launch electronic

payment products on the market quickly and efficiently, reduce transaction costs and mitigate operating risks. By migrating to HPS’ technology, Société Générale will have a platform allowing payments innovation to be accelerated and new products to be brought to market easily. This is essential in an era where customers are demanding quick, easy, digital and uninterrupted payments processing. These expectations are particularly noticeable in Africa. Africa is a key market in Société Générale’s growth strategy. Operating in 19 African countries, the bank has a unique position in the region, which allows it to offer its clients the expertise and know-how of an international bank and the proximity of a local bank. In Africa, the Group supports local economies and serves 4.1 million customers, including 150,000 businesses. The project will initially focus on the migration of SociétéGénérale’s electronic payment operations in Africa to HPS Platform for Cards Issuing, PoS, ATM and Acquiring activities. Open Banking has been the buzz word for quite a while now. How do you see the discussion between legislation versus openness, innovation and adoption of various payments methods and situations?

PSD2 has been forcing the bank in Europe to “open” their systems to third parties. This has been promoting competition and innovation by having new players entering into the market, some players coming up with new ideas or new concepts. Generally, we can also notice that whenever a new regulation is happening in one region it is then spread across the other regions in the following months/years. So, there is no doubt that “Open Banking” will become global, by regulation, quite soon. This being said, the Open Banking concept has also been pushed on the market because of the FinTechs that were looking to partner with Banks rather than building their own systems. What are the developments we can expect from HPS to happen next?

HPS keeps evolving and expanding. We recently opened in South Africa and will be announcing another office shortly in the US. As we grow rapidly, we remain close to our fundamental values of offering innovative solutions and quality services to our clients. We do this by investing a significant amount of our revenue in R&D. For over 20 years, we have constantly evolved PowerCARD. Our ability to listen and understand the everevolving market allows us create payment innovations rapidly (tokenization, wallet, instant payments, omni-channel, Open Payment Platform etc.) To strengthen this commitment, we have launched the HPS Academy to ensure that our collaborators and customers are offered the best training possible on our products and solutions. The industry is constantly evolving, and so are we. We are shaping the future, together with our customers and partners to achieve what we do best: enabling innovative payments.

ABDESLAM ALAOUI SMAILI

CEO Abdeslam Alaoui Smaili is the CEO of HPS and has overall responsibility for all of HPS’ activities. With more than 25 years of experience in the IT industry, Abdeslam has co-founded two IT services companies before becoming one of the founding members of HPS back in 1995. Abdeslam has subsequently overseen HPS’ continued development and expansion, and has been involved in countless implementations of payment systems in countless countries. Over the years Abdeslam has helped clients design & launch new & innovative payment instruments in complex & challenging markets and implement challenging transformation programs across multiple countries, currencies and languages, including domestic and regional payment schemes. Abdeslam holds a degree in Engineering from Toulouse

DIGITAL KYC – WHY IT’S FINGER-CLICKIN’ GOOD Know your customer (KYC) is still one of the biggest stumbling blocks to enhancing customer experience in both B2B and B2C financial services. Authentication and data capture typically requires several items of paper-based evidence. Worse still, many of these items need to be from a specific period and almost all of them need to be original documents. As such, KYC admin is a proven customer deterrent. Just look at the facts: •40% of consumers have abandoned bank applications

However, as more systems can accept electronic documentation, and systems such as blockchain are able to provide more secure digital authentication, the concept of KYC takes on an entirely different flavour. Now, it becomes a quick and seamless way to validate critical details with financial institutions, digital paper trails become so much more convenient than paper ones and customers’ sense of security is reinforced. For this seamlessness to become a reality, however, several factors need to align, ranging from the data readiness of individual organisations to a global appetite for e-documentation.

•More than 1 in 3 (39%) abandonments were due to the length of time taken •A third (34%) were due to needing too much personal information and the abandonment rate is increasing •Those who have applied for a product in the last 12 months have abandoned more than those who last applied more than 12 months ago (45% vs 26%) Source: Signicat

Electronic ID The universal availability of electronic documentation, such as identity cards, is a fundamental building block without which a fully digitised, automated and near real-time KYC capability proves difficult. Progress towards this is being made, notably in developing nations where the challenge of undocumented segments of the population was tricky until digital solutions became available. The Unique Identification Authority of India (UIDIA) was established in 2008 to give a digital identity to every resident. This ‘Aadhaar’ ID now gives access to many key services, including banking. Estonia, frequently at the forefront of digital innovation, has also been leading western forays into electronic ID. The Economist reported: “Estonia’s approach makes life efficient: taxes take less than an hour to file, and refunds are paid within 48 hours. By law, the state may not ask for any piece of information more than once, people have the right to know what data are held on them and all government databases must be compatible, 12 | THOUGHT LEADER | CurrencyCloud

a system known as the X-road. In all, the Estonian state offers 600 e-services to its citizens and 2,400 to businesses.” With one of the charges against KYC being that it doesn’t match up to the overall seamlessness of many other consumer interactions, the Estonian model is an example of true, joinedup thinking. However, this success has arguably been driven by a strong Governmental mandate, a reasonably small population and high levels of investment in digital for the greater good. Most countries – and companies – don’t enjoy the same levels of investment or have data architecture that has been built, fit for purpose, from the ground up. GDPR On the surface, the General Data Protection Regulation (GDPR) seems to have added to the restrictions that businesses face in managing customer data, rather than expanded them. However, the procedures that companies now need to follow for compliance will stand them in better

stead to manage the data demands of a digitised KYC. The UK’s Security Watchdog website noted that: “Adequate KYC procedures can be powerful AML and risk management tools. The amount of digital data and the simplicity with which it can be shared creates a heavy burden on those who hold it.”Organisations can’t afford to ignore the need to improve the way they onboard and process customer data. The volume is only going to increase. But they should also think of regulations such as GDPR as essential guidance as well as compliance. It is the necessary nudge that will get the finance sector in the shape of its life and ready to meet the demands that digital – and customers – will place on it in future.

Cloud-based KYC Banking chiefs are naturally wary of hosting sensitive customer data in the cloud. This generally stems from a misconception over the type of cloud they should be using to store their KYC data. Certainly, individual organisations hosting client data in the public cloud is not advisable. But true cloud-based KYC relies on centralised, protected data sources maintained by experts to remain current and compliant. Such systems have Governmental support, wide-ranging system compatibility, industry-leading security, and provide users with speed of access which, in turn, they can pass on to customers in the form of an enhanced experience. Cloud is particularly important when it comes to cross-border payments. Whether it’s finding common integrations across different national banking systems or using different international vernacular for validating customer IDs, cloud becomes the central hub where these exchanges can take place. Currencycloud itself operates from Amazon Web Services (AWS) platform, which runs under a host of compliance programmes and tight data centre controls. A GSMA study found that the consequence of creating electronic identification, plus digitising and integrating data, has been to speed up e-KYC, including electronic identity documents. In developing nations, this has so far been primarily in the mobile sector, but with implications for mobile network operators (MNOs) to become payments banks for low-income customers. In doing so, it reduced the cost of KYC processes from $0.60 per customer to $0.07. Cost is certainly a factor when competition is high, and margins are squeezed. But financial services providers looking to encourage new customers (or those switching from other providers) need to look to digital KYC as a vital tool. Erin Taylor, a researcher at Holland FinTech, summarises the challenge ahead: ”If ‘sign up to a new digital bank’ lands on a consumer’s to-do list, there is a very real danger that they will never get around to the task. New financial services need to take consumers from ‘interested’ to ‘converted’ immediately, and a fully digital onboarding experience is key.”

Source: Currencycloud

A selection of MERCHANTS Attending companies 7 BRANCH INTERNATIONAL 2N BRANKAS 3G RADAR BUCKZY - REAL TIME CROSS 451 RESEARCH BORDER PAYMENTS A.T. KEARNEY BUSINESS INSIDER ACCUITY BUSINESS TIMES ACI WORLDWIDE BVI FSC ACTIS ADVISERS CAPFLOAT FINANCIAL ACTVIDE AG CAPGEMINI ADDENDA CAPITAL FLOAT AEON THANA SINSAP CARD MRI AEROSPIKE CARDINFOLINK DATA AFFINSYS AI LIMITED CARDUP AGODA CARTA WORLDWIDE AIG JAPAN HOLDINGS CASHWAGON PTE LTD AIRBNB CATCH LONDON AIRWALLEX CDC GROUP PLC ALCHEMY FOUNDATION CEBUANA LHUILLIER ALIOR BANK S.A. CELENT ALLEN & OVERY LLP CELERO SOLUTIONS ALLIANZ SE CENTRAL CAPITAL VENTUR ALPHA FINTECH CERTAINTY COMPLIANCE ALPHALABS / CLSA CHAN WANICH CO.,LTD. ALSEDA GMBH CHARTWELL COMPLIANCE AMADEUS CAPITAL CIMB AMAZON WEB SERVICES CITI BANK AMERICAN EXPRESS CLINICALL INTERNATIONAL AMSTERDAM INBUSINESS CORPORATION ANDROMEDA SOLUTIONS CLOUD LENDING, A Q2 CO ANGELLIST INDIA CLOUDFLARE ANT FINANCIAL CNBC ANTLER COCOON IGNITE VENTURES ANZ BANK COINPOST INC. APEX CAPITAL COMMONWEALTH BANK APPLE INC. COMPASS PLUS APPLIEDWEALTHSOLUTIONS COMPLYADVANTAGE ASI COMPLYTECH ASIAN BANKING & FINANCE CONFERMA ASIAN DEVELOPMENT BANK CONFERMA PAY ASSEMBLY CONNECTING THE DOTS ATLAS QUANTUM CONSULT HYPERION ATTRA CONVEX MALAYSIA SDN BHD AU10TIX COVALENT CAPITAL AUSPAYNET CREDIT AGRICOLE PS AUSTRALIAN SETTLEMENTS CREDIT KUDOS AUTOMATED BANKING SERV CREDITEASE FINTECH AVALOQ EVOLUTION AG INVESTMENT FUND AVENTIO MB CREDORAX AWARE, INC CROWDO AXIATA DIGITAL SERVICES SDN CRYPTO BROKER AG BHD CRYPTO FINANCE AG AYUDHYA CAPITAL CRYPTO STORAGE AG BAHRAIN EDB CRYPTO.COM BAIN CURRENCYCLOUD BAIN & COMPANY CURRENXIE BANCLOGIX SYSTEM CO. LTD CUSCAL BANCOLOMBIA CVC CAPITAL PARTNERS BANK HAPOALIM CYS GLOBAL REMIT P/L BANK LEUMI LE-ISRAEL DANA CITA | BUKAS.PH BANK OF AYUDHYA PCL DATASEERS BANKBAZAAR DATAVISOR BANKING CIRCLE DBS BANK LIMITED BARCLAYS DCG BASIS TECHNOLOGY DEALSTREETASIA BB FINANCE OÜ DELOITTE BCG DEUTSCHE BANK BEENEXT CAPITAL DIFC AUTHORITY BEENEXT PTE LTD DIGITAL VENTURES BEXS BANCO DISCOVER BIOCATCH DNB ID SOLUTIONS AS BITPAY DNP ASIA PACIFIC PTE. BLACKFIN CAPITAL DR.THEDECONSULTING GMB BLUZELLE DRIVEWEALTH BNP PARIS DYNAMICS INC. BOACOMPRA BY E&S GROUP PAGSEGURO E27 BOOKING.COM BV EARTHPORT PLC BOTLABS GMBH EBANX PTE BOTTOMLINE ECOMMPAY TECHNOLOGIES

14 | ATTENDING COMPANIES

EFMA EGON ZEHNDER EIKA GROUP AS ELABRAM SYSTEMS EMAILAGE CORP. EMERGE EMERGENT TECHNOLOGY EMQ EMVC ENETT INTERNATIONAL ENKASH ENTREPRENEUR&INVESTOR ENTRUST DATACARD EQUANTIC LIMITED ETHOCA EUROMONITOR EVENTS MANAGER EVERCOMPLIANT EXPERIAN EY EY INNOVALUE MANAGEMENT ADVISORS GMBH FACEBOOK FACEPHI FDATA FEDEX CROSS BORDER FEXCO PHILIPPINES, INC FIDES FIME FINANCIAL HOUSE FINANCIAL IT FINCH CAPITAL FINCLUSION PTE LIMITED FINEWS FINEXTRA FINNOVASIA FINOTECH FINTECH CONSORTIUM FINTECH GALAXY FINTECH HIVE FINTECH INNOVATION FINTECH POWER50 FINTECHNEWS.SG FINTRUX NETWORK FIRST CIRCLE FIRST DATA FIS GLOBAL BUSINESS FIS FISERV (APAC) PTE LTD FLIPKART FLYWIRE FOMO PAY FORTER FORTUMO FRAUGSTER FTCASH FUJITSU LABS AMERICA FUJITSU GEMALTO PTE LTD GENERAL CARD SERVICES GENERATION INV MGMT GEORA GEORGIA DEPARTMENT OF ECONOMIC DEVELOPMENT GEORGIA, USA GEOSWIFT GETCLARITY FINTECH SERVICES PVT LTD GHL EPAYMENTS SDN BHD GIECECKE & DEVRIENT IND PVT LTD GIESECKE & DEVRIENT MOBILE SECURITY GMBH GIRMITI SOFTWARE GITI GROUP GLADE BROOK CAPITAL GLOBAL BLUE GLOBAL PROCESSING SERVICES

GO-JEK GOOGLE GOVERNMENT TRADE PROMO GPS GRAB FINANCIAL GROUP GREEN DOT GRIDEX GROUP-IB GRUPO SURA GUARDSQUARE NV GUPPY HALALAH TRADING COMPANY HANWHA CORPORATION HEDERA HASHGRAPH HELLO GROUP HIGGS BLOCK TECHNOLOGY HITACHI HKT PAYMENT LIMITED HOGAN LOVELLS LLP HOME CREDIT INDONESIA HOTS HPS HSBC HUBSPOT HULGRAVE IBM ICONTO SRL IDC IDEMIA IDEX BIOMETRICS IGNITION ADVICE IHS MARKIT IMMUTABLE CAPITAL INAUTH INDEBTED INFOCAMERE SCPA INFRAFUND ING BANK ING VENTURES INGENICO INNOVATIVE ASSESSMENTS INNOVITI PAYMENT SOLUTIONS PVT. LTD. INSUREVITE PTE LTD INTECH COMMERCE INTERAC CORP INTERCASH INTERPAY LTD INTERSTELLAR INVEST LITHUANIA INVESTMENT IPAY88 HOLDING SDN BHD IPT ITAÚ BBA ITMEDIA IXOPAY GMBH J&J BUSINESS DEVELOPMENT CORP. J.P. MORGAN JB FINANCIAL GROUP JCB INTERNATIONAL AP JGP JICAMA 311 (PTY) LTD JPMORGAN CHASE BANK JRNY JSOL JUMIO JUVO K&L GATES LLP KAKAO BANK KAKAOPAY CORP. KAPRONASIA KARMSHALA KASISTO, INC. KB KOOKMIN CARD KCB KDDI CORPORATION

Attending companies KESTREL PAYMENTS KG KG FUNDS MANAGEMENT KILIAN THALHAMMER KLARECO COMMUNICATIONS KONTOMATIK KOREASMARTCARD KOREFUSION KRASIA KREDIA GROUP LTD. KRUNGSRIAYUDHYA CARD KWANGJUBANK LAKALA PAYMENT CO.,LTD LALIT MONEY TRANSFER LASTBIT LAZADA GROUP LBC EXPRESS INC LENDINVEST LIMITED LEVVEL LEXISNEXIS RISK LG UPLUS CORP. LIGHTBULB CAPITAL LIMITLESS LIVELO S.A. LOKTRA LU INTERNATIONAL LUNO LUXEMBOURG FOR FINANCE MARQETA MASTERCARD ASIA/PACIFIC PTE LTD MAVEN DILIGENCE MCKINSEY MCLEAR MEDICI MELISSA MERPAY MERPAY, INC. MESH PAYMENTS METRICS GLOBAL INC METRO ATLANTA CHAMBER MFM SECURITIES (CY) MICROBLINK MICROSOFT MILES CAPITAL MINISTRY OF FINANCE MINTZIP MISS MOBIKWIK MODERN MONOPOLIES MODULR MOIN, INC. MOLPAY SDN BHD MONEX MONEYJAR MONEYMATCH SDN BHD MONEYMO MONEYPLACE MONEYTHOR MONITREE MOTIVE PARTNERS MR. MUMBAIFINTECHHUB MYCASH ONLINE MYMY NATIONAL BANK OF CAMBODIA NCR CORPORATION NEHAT TECH SOLUTIONS PVT LTD NEM FOUNDATION NETCETERA AG NETGUARDIANS NEWBANKER NEWSNOWMEDIASERVICES NEXCHANGE NIKKEI GROUP ASIA PTE. NIRA NOMURA RESEARCH INST.

NOVISCIENT NRI SINGAPORE PTE LTD NTT DATA CORPORATION NUDGE OCBC OCEANPAYMENT CO.,LTD OLIVER WYMAN OMISE OMNIPAY, INC. ONDOT SYSTEMS INC. ONFIDO ONPEX GMBH OPEN FINANCIAL OPEN SPARKZ OPPORTUNITY OPTAL LTD OPTIMON ORACLE ORACLE ORADIAN D.O.O. ORIENTE ORIGAMI INC. ORT COMPANY (SINGAPORE) PTE LTD OSOME OVERDOSE DIGITAL PAGBRASIL PAIDY PALAWAN PAWNSHOP PATAMAR CAPITAL PAYKEY PAYMENTANDBANKING PAYMENTS&CARDS NETWORK PAYMENTSCOMPLIANCE PAYONEER PAYPA PLANE PAYPAL PAYPLAZA PAYSAFE PAYTECHLAW / ADERHOLD PAYU PAYXINTL PBRG PENINSULA SOFTWARE SERVICES LTD PEOPLEFUND PEPPER SAVINGS BANK PHNOM PENH COMMERCIAL BANK PIONEER CREDIT LIMITED PIVOTAL INC PIXURA POALIM PONTUAL / USEND PPRO PRFORM RETAIL AS PROFILEBRIDGE PROMONTORY, AN IBM CO. PROPEL VENTURE PARTNER PT DOCOTEL TEKNOLOGI PT. INDONUSA DWITAMA PUMAPAY PWC JAPAN Q2 QATAR DEVELOPMENT BANK QIWI BANK QPAL QUANTUM ENERGY ASSET MANAGEMENT QUO CARD CO., LTD. R3 RABOBANK RADIX RAM CREDIT INFORMATION RAPYD RBK.MONEY RED RAT CLOTHING LIMITED REGIONAL AUSTRALIA BAN REGULATION ASIA REINVENTURE

REMITLY REUTERS BREAKINGVIEWS REVOLUT RIPPLE ROBOCASH GROUP ROCKETFUEL BLOCKCHAIN INC. ROCKMETRIC ROYALPAY RS2 SOFTWARE SAFECHARGE SAFRA SALAMANTEX GMBH SAMSUNG CARD SANFORD C. BERNSTEIN SAXO MARKETS SBI FINTECH SOLUTIONS SCALE INVESTORS LIMITED SCHWEIZER VERSICHERUNG SCMP SECURITY BANK SEED SPACE VENTURE CAPITAL SEIKO SOLUTIONS INC SENJO GROUP SENTBE SEQUOIA CAPITAL SEVEN BANK,LTD. SEYNSE TECHNOLOGIES SHANGHAI SHARP CAPITAL SHIFT FINANCIAL, INC. SHINHAN CARD SHOPIFY SICPA SA SICPA SIGMAXYZ INC. SILOT.AI SIMILITY SIMPL SINGAPORE PRESS HOLDINGS SINGTEL INNOV8 SLEEK SMARTSTREAM SMECORNER.COM SNOWDROP SOLUTIONS SOFTTECH CHINA SONY CORP SOUL MACHINES SPEEDINVEST GMBH SPIN ANALYTICS SPLIT PAYMENTS STANDARD CHARTERED BANK STASHAWAY STASIS STATE ADMINISTRATION STEALTH STEINBACH CREDIT UNION STEUERBOT GMBH STRIPE SUMUP SERVICES GMBH SUNLINE SWEDBANK SWIFT SWIPE SYNCHRONY FINANCIAL TA ASSOCIATES TATRA BANKA TECHCRUNCH TECHSAUCE MEDIA TELECOMCREDIT, INC TELEPOWER COMMUNICATION CO.,LTD TENCENT TESCO CARD SERVICES TFSN THE BANKING SCENE THE BOOSTER LABS THE DIGITAL FIFTH

THE FINTECH POWER 50 THECOINSHARK THOMSON REUTERS THREATMETRIX TNG FINTECH GROUP INC. TNS AUSTRALIA PTY LTD TOKOPEDIA TOP MARKET GROUP TORK CAPITAL TOTAL SERVICES SOLU TOUCHÉ TRACETO.IO PTE LTD TRANSFERTO TRANSUNION CIBIL LTD TRANSUNION TRAVELOKA TRIPADVISOR EXPERIENCES TRUELAYER TRUSTONIC TRUXT TRYB GROUP TSYS TWITTER TYRO UBS AG UL UL VERIFICATION SERVICES PTE LTD UNCONVENTIONAL VENTURES UNITELLER FINANCIAL SERVICES UNIVA PAYCAST LIMITED. UOB UP BLOCKCHAIN TECHNOLOGY LIMITED VACUUMLABS VALORA AG VALUE3 ADVISORY VELT PARTNERS VERIFONE VERITRANS INC. VIET THAI INTERNATIONAL JSC VIEWFIN VINACAPITAL VIRTUSA VISA VOLT BANK VONTOBEL VOSTOKEMERGINGFINANCE VOYAGE GROUP, INC. WALMART (CHINA) INVESTMENT CO., LTD. WAVE FINANCIAL GROUP WAVE GROUP WECHAT PAY WELLS FARGO BANK, INC WESTPAC BANKING CORP WEX ASIA PTE WEX AUSTRALIA WHRRL WING CAMBODIA WIREBARLEY CORPORATION WOMEN IN PAYMENTS WOMEN’S WORLD BANKING WORLD FIRST WORLDPAY WORLDREMIT WPN XEN XPRESS MONEY YAPSTONE YEEPAY CO., LTD YGC YODLEE ZALANDO PAYMENTS GMBH ZESTMONEY ZILLIQA ZONE STARTUPS

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GOING ALL IN: WHAT E-COMMERCE MERCHANTS CAN LEARN FROM THE I-GAMING INDUSTRY

The i-gaming industry is notoriously innovative. What can e-commerce merchants learn from its success? When it comes to innovation, few industries lead the way quite like the i-gaming industry. Gaming companies’ appetite for risk makes them open to trying new ideas and as a result, they tend to be on the cutting-edge of technology.

ultimately build loyalty. They were worried that if players could withdraw their money instantly, they would cash out and never return. But it turns out, offering instant withdrawals had the exact opposite effect.

Take Pay N Play®, for example. Trustly developed this payment and registration technology in 2015, and today it has become a standard in European online gaming. Registering at a gaming site has traditionally involved filling out lengthy registration forms and then waiting days for the online casino to conduct its due diligence. But with Pay N Play®, in order to register and deposit, all a player has to do is make a deposit via his or her trusted online bank — no redirect away from the mobile gaming site is necessary, which drastically improves conversion.

According to internal Trustly data, not only has Pay N Play® helped to attract a large player base quickly, but players remain more engaged and deposit over 80% more every month compared to a traditional gaming operator on average.

From the player perspective, it’s incredibly frictionless. But in the background, it’s rather complex; as the player makes a deposit, Trustly extracts necessary information from the player’s bank account to fulfill KYC requirements and delivers the data to the operator, who can register the player account in the background. During this step, operators can verify the player’s identity and age, ensuring that he or she is allowed to play. Not only does it streamline the registration and deposit steps, but it ensures that operators stay compliant with increasingly strict security regulations. Pay N Play® also enables instant withdrawals, so players can cash out their winnings to their bank account right away. When Trustly first introduced Pay N Play®, some operators were very skeptical. They didn’t see how offering instant pay-outs to their players would actually increase deposits and

18 | THOUGHT LEADER |Trustly

What e-commerce merchants can learn from the online gaming industry So what can we learn from a solution that has revolutionized the gaming businesses? At the end of the day, players are shoppers and shoppers are players. Their behaviors are influenced by the same innate attitudes: they want to be in control of their money and they want a frictionless experience that won’t disrupt their expectation of instant gratification. Likewise, gaming and e-commerce merchants are not so different. They both strive to increase the number of purchases and to offer the most convenient and simplified processes for withdrawals or refunds. And, realistically, they would prefer to ignore the reality that their customers are asking for refunds at all. However, there is much to be gained from giving your customers — whether they are players or shoppers — what they want. According to a recent Trustly report called “Rethink Your Refunds, Perfect Your Payments,” while free returns are now commonplace, refunds have not kept pace. In fact, timely processing of refunds is

a core factor affecting the customer’s experience. But many companies overlook this, assuming the offer of free returns is good enough. As a result, 69% of customers report waiting four days or more for their refund. However, the report goes on to reveal that offering faster refunds would lead to 58% of customers spending more and 56% shopping more frequently. On top of that, 95% of shoppers said they would be more loyal to a merchant that offered same-day refunds. Overall, this represents a solid uplift in revenue without merchants needing to fundamentally alter their product offerings or business model. So while free returns get you the sale, smart returns get you loyal customers. A frictionless future Clearly there are financial advantages to offering faster refunds to your customers. However, when we look more closely at the magic of Pay N Play®, the true value comes from the data that Trustly can deliver to the merchants during the bank payment process. When applied in an e-commerce perspective, the potential can be equally transformative. Imagine shopping on your favorite brand’s website, and when it’s time to check out, you simply make a payment through your online bank and you’re done. No need to fill out a long form with your shipping details. Because Trustly can fetch that data during the payment process, the merchant can pre-fill the shipping form, which the shopper can confirm with one click. Or the merchant can even create a unique shopper account, but there’s no need to remember a username or password because shoppers verify themselves through the payment. The result is a much more frictionless checkout experience, which benefits both the shopper and the merchant. But why stop there? Trustly’s latest innovation, In-Banner Pay N Play®, takes things a step further and puts the streamlined payment experience into a banner, which can be distributed across the internet. Imagine scrolling through your favorite fashion blog and you see a banner advertisement for a beautiful pair of shoes. You can buy them by making the payment from directly within the banner (hosted by the merchant) and never even need to leave the page you were surfing. It’s an e-commerce experience that meets shoppers where they are, rather than redirecting them to a new page. It finally takes e-commerce into the world of impulse buying. When e-commerce merchants, like gaming operators, start to view payments not as an obstacle but as an opportunity to increase conversion and streamline the shopper journey, everybody wins.

ADAM BOWMAN Director of Partner Sales Adam serves as Trustly’s Director of Partner Sales, managing a team focused on growing and managing Trustly’s pan-European Partner network. Prior to Trustly, Adam worked at PAY.ON, where he initially helped launch PAY.ON’s gateway business in the US, and subsequently managed the European sales team, based out of Munich.

ABOUT TRUSTLY Trustly is a fintech company that makes online banking payments fast, simple and secure. By signing just one agreement with Trustly, e-commerce brands can accept payments from and issue instant refunds to shoppers in 29 European countries, in all local currencies. To learn more, visit trustly. com/ecommerce.

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BRINGING PAYMENTS TO YOUR FINGERTIPS: HOW BIOMETRICS ARE CHANGING PAYMENT SECURITY AND ACCESS The way we make payments is changing. A big part of the transformation is biometrics – technology that’s becoming increasingly popular, especially when it comes to identity authentication. Using the unique characteristics of an individual to identify them isn’t new. But combining them with a traditional credit or debit card, means consumers can now make payments with their fingerprints, a selfie, or simply by saying a word or phrase out loud. According to IBM, 75% of millennials are now comfortable using biometrics and 87% of all adults say they’ll be comfortable with them in the future. This could mean traditional payment methods, such as the use of a PIN or password, might be outdated before we know it. The introduction of biometrics to the payments process is disrupting the wider industry in two major ways. First, it’s making the customer experience more convenient; and second, it’s reducing the risk of their identity being stolen in the process. When it comes to making a payment, the right balance needs to be struck between consumer convenience, and consumer security. Biometrics are helping achieve this perfect balance, and coupled with cutting-edge technology like machine learning and artificial intelligence, will keep us one step ahead of fraudsters in the future. The consumer comes first Modern consumers have increasingly busy lifestyles and conflicting demands. The average consumer neither wants nor has time to keep track of multiple different passwords or PINs, especially if it exposes them to fraudulent activity. That services can be accessed almost instantaneously and without cost is now a basic expectation – and delivering a smooth, frictionless experience for customers a necessity if providers want to remain competitive. Convenience and control have always steered innovation in the payments industry, as the widespread adoption of contactless cards over the past 10 years shows. Time is money – and bringing 22 | THOUGHT LEADER |Onfido

payments to a customer’s fingertips is just the latest innovation that’s helping enhance the customer journey. And it’s gathering speed: Mastercard has already announced that from April 2019, card users will be able to make payments using fingerprint and facial recognition technology, with new scanners built into cards. Tackling identity fraud But convenience can’t be everything. Though making payments from your mobile device creates a wealth of opportunities, the security of a customer’s information during the process needs serious consideration. While speed of transaction is important, so is catching those trying to commit fraud. Identity fraud is a global problem, and it’s only getting worse – whether it’s committed through stealing or cloning someone’s card or attaining their identity to launder money. Identity theft is the fastest growing crime in the US and accounts for half of all reported fraud in the UK, with 1 in 60 online transactions attempted globally being fraudulent. Secure, reliable authentication and identity verification procedures have never been more crucial. As biometric technologies have developed, so too have the techniques employed by fraudsters to try and defraud customers. ‘Spoofing’ attempts on payments – such as using a picture of a face from the internet, or even a mask to try and trick facial recognition technology into thinking it’s the same person – are common. The benefit of robust biometrics in authenticating payments is that they stop these attempts from being truly scalable. Fraudsters want to find a way of committing fraud, and to repeat it again and again. By introducing additional layers of authentication, such as a hybrid approach that combines technology and human verification, it’s far more difficult for that to happen. Introducing liveness tests into the authentication process can also help. A liveness test protects against spoofing by checking that the identifying biometrics belong to a real, present person – not just a picture pulled from the internet. Onfido’s requires a user making a

payment to read out three randomly generated numbers and to perform a simple movement, for instance – it confirms that they’re alive and presenting the information. Widespread adoption will be sooner rather than later In the future, most transactions that carry a risk will require an identity check involving some form of biometric authentication. Acuity Market Intelligence predicts that by 2022, mobile biometric solutions will authenticate more than 1 trillion transactions annually, driving the market to $50.6 billion in annual revenue that year. Consumers are already starting to see the benefits from biometric technology in their payment methods. Apple, after introducing fingerprint scanners on iPhones as a form of Touch ID, consequently introduced Apple Pay, whereby a customer could use Touch ID to make a payment. This was followed by the release of similar services by competitors such as Samsung Pay and Android Pay. And we’re now seeing developments in the use of more sophisticated biometric technologies, too. Spanish banking group BBVA are trialling a facial recognition payment system with their employees to use in the company’s corporate restaurants and cafes, meaning they simply have to look at a camera booth next to the cash registers to pay for their food. UK retail bank First Direct also now allows its customers to pay by giving voice commands to the Apple digital assistant Siri. Looking ahead As fraud evolves, nothing can be 100% secure, and the use of biometrics is not yet perfect. Different biometric algorithms and back-end processes have to balance between competing priorities to catch as much fraud as possible, while letting trusted consumers through. While a strict algorithm will catch a higher number of fraudulent transactions, it might also incorrectly stop some genuine ones. Conversely, an algorithm that focuses on optimising speed might let through a few more fraudulent attempts. This is why pioneering new technology,such as artificial intelligence and machine learning, is so important. It complements biometrics by adding a further layer to the authentication process. Machine learning continuously evolves to understand patterns and behaviours, meaning it will develop and improve at identifying new types of fraud over time The payments industry needs to embrace these new technologies and their benefits in order to provide the best experience for the customer, whilst cutting down on potential fraud. Banks should also review their payment transaction processes and add biometrics to protect both their business and their customers. Added to the numerous biometric authentication pilot programmes already in the pipeline, it promises to be an exciting few years ahead for the payments industry and the consumer. Source: Payment Week

KEVIN TRILLI Chief Product Officer & Interim CTO

Kevin Trilli is Chief Product Officer and Interim CTO at Onfido. Based in Onfido’s San Francisco office, Kevin has over 20 years of product and entrepreneurial experience in digital data security, privacy and governance. He leads the strategic evolution of the Onfido product platform to a leading provider of identity trust services.

ABOUT ONFIDO Onfido’s vision is for everyone to be able to easily and securely prove their legal identity online. Using machine learning technology, Onfido validates a user’s identity document and compares it with their facial biometrics, enabling companies to automate checks on over 600 document types across 192 countries, detecting anomalies automatically, and using human

THOUGHT &LEADER REVOLUT 14 | PAYMENTS CARDS|MAGAZINE

12 | THOUGHT LEADER |FEATURESPACE

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