Merchantrade Selects IDEMIA for its Digital Onboarding Solution

IDEMIA’s advanced customer onboarding technologies will support quick and secure registration of Merchantrade Money and eRemit mobile app users

Kuala Lumpur, 01 June 2021 – IDEMIA, the global leader in Augmented Identity, has been selected by Merchantrade,  Malaysia’s leading Money Services Business Operator and e-money player, to enhance the onboarding of customers for two of its mobile-enabled services. Merchantrade will leverage on IDEMIA’s Identity Proofing Platform to enable quick and secure registration of mobile customers on its digital multi-currency ewallet, Merchantrade Money, and its app-based remittance service, eRemit.

IDEMIA’s Identity Proofing platform offers enterprises powerful and robust identity verification capabilities that enable them to know, trust, and verify their customers’ identities. This process is completed using real-time biometrics and ID document capture via a customer’s own smartphone. Once a user submits their data, their biometrics and ID information are then extracted, authenticated and verified using IDEMIA’s artificial intelligence algorithms.

“IDEMIA is dedicated to support FinTechs around the world to differentiate their customer onboarding journeys. We are pleased to work with Merchantrade to innovate the way they identify, verify and onboard customers, which will help users open their accounts in just minutes, said Christophe Lambinon, APAC Vice President of Digital business, IDEMIA.

For Merchantrade, IDEMIA’s solution digitalizes the user registration process by verifying ID documents and biometric facial recognition in real-time for users from all countries through their smartphones, while also ensuring total security. By enabling Merchantrade to onboard customers with verified identities anytime and anywhere, the Identity Proofing Platform helps the company sharpen its focus on enhancing its core businesses of digital cross-border money transfers, foreign currency exchange and e-money services..

“At Merchantrade we are dedicated to quality and innovation, which is reflected in our products and solutions created to suit our customers’ needs. Whatever we offer, we strive to ensure it fits to the lifestyles and needs of our customers. We constantly push the boundaries of innovation, always looking to bring the latest technology to our products and services to enhance our offering and the customer experience but with no compromise on security. That’s why we are very pleased to be working with IDEMIA a global leader in identity-related security services. Their solution will reinforce trust in our mobile-based ID authentication regime. The benefits of IDEMIA’s system are far-reaching for Merchantrade. It allows us to offer a truly safe and secure customer-centric solution, differentiating ourselves in a competitive market and speeding up the onboarding and activation process for first-time users” said Ramasamy K. Veeran, Merchantrade’s Founder and Managing Director

Merchantrade is one of Malaysia’s leading Fintech companies with multiple digital products and over 1000 physical touchpoints nationwide via its network of branches, agent locations and cash-in cash-out merchants.