Masked Aadhaar solution: New launch at IDfy
Date Published
A report in the Technology edition of the Economic Times has reported on the recent twin product launches at IDfy – Aadhaar Masking and Video KYC. The report says that “both these mechanisms can help companies authenticate their users lawfully and at a cheaper cost”.
30 May 2022 The Ministry of Electronics & Information Technology (MeitY) has recently urged the use of masked Aadhaar to prevent misuse of personal information.
Automated Masking of Aadhaar Number
IDfy’s automated masking processes the image of an uploaded Aadhaar card and delivers the same image with the first 8 digits of the Aadhaar number masked. This allows organizations in authenticating users while keeping customers’ data private and secure. The masking process is completed in 8 seconds.
“We are happy to provide a solution that provides for comprehensive fraud detection while respecting people’s privacy,” said Wriju Ray, co-founder and CBO, IDfy. “With Automated Masking, we are bringing the benefits of eKYC back to the industry while ensuring that people’s data remains private.”
Also read: IDfy has Launched Video KYC to Reduce Cost by More than 90%: Economic Times
For a demo on Aadhaar Masking and/or Video KYC, please write to shivani@idfy.com
Just two operational segments in banking contribute to a whopping 95% of all banking frauds. That’s right — Advances and Cards/Internet banking — together account for 95% of all banking frauds. All other operational segments like forex, deposits, cash, cheques, and clearing accounts are tiny problems, in comparison, accounting for less than a percent of total banking frauds.
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