Translated by Authme
Taiwanese AI startup Authme, founded in 2019, identified a significant demand for digital identity verification in the global post-pandemic digitalization trend. Consequently, Authme integrated technologies such as facial recognition, mobile NFC chip document verification, and liveness detection to develop a series of eKYC digital identity authentication solutions.
Currently, Authme primarily provides digital identity verification services to the financial industry. They also have high expectations for market demand in emerging economies such as Southeast Asia. Authme’s Head of Marketing, KuoChan Tseng, believes that digital identity verification will play an indispensable role in the future of inclusive finance.
Expand to SEA Market, Authme Aims to Make Financial Services More Accessible
With the experience of having worked in Indonesia for many years, KuoChan Tseng hopes that Authme’s services can change the perception of the financial industry, as he mentioned that in Indonesia and Southeast Asia, more than half of the population does not have access to financial services.
According to a report by DBS Bank, over 70% of adults in Southeast Asian countries lack access to financial services, which leaves millions of small and medium-sized enterprises struggling with a lack of capital.
This situation further impacts public health because residents in many rural areas of Indonesia are unable to apply for loans or access healthcare, depriving them of medical treatment opportunities.
However, smartphone penetration in Southeast Asia has already exceeded 70%. Authme sees the market potential for digital financial services in this environment, especially after the pandemic when people increasingly need comprehensive financial services that rely on AI and big data technology for digital identity banking services.
In this trend, «identity verification» has become the key technology for cognitive banking, and Authme’s services have accelerated the development of digital banks, driving remote digital financial services. KuoChan Tseng mentioned that in recent years, financial regulatory authorities have become more accepting of third-party AI identification technology being used for identity verification.
eKYC, the Best Strategy for the Digital Financial Industry
In the emerging field of «identity verification,» Authme has taken the lead in the market, and it is compatible with most mobile devices. It was also the first company to deploy an all-in-one eKYC solution.
CEO Andy Lee and CTO Dalton Hsu are the co-founders of Authme. Leveraging their experience and backgrounds in cryptocurrency exchanges and white-hat hacking, they recognized the importance of identity verification in the digital finance sector early on.
With KuoChan Tseng’s familiarity with the Southeast Asian market, Authme has already partnered with Taiwanese companies operating in the region and aims to strengthen its market position in Southeast Asia in the coming years.
With the proliferation of «deepfake» technology, countermeasures based on AI are becoming increasingly important. While Authme’s long-term goal is to target emerging markets such as Southeast Asia, developed markets like Japan also have significant digital financial needs, making them potential growth markets for Authme.
In addition to digital finance, KuoChan Tseng mentioned that Authme’s identity verification solutions are applicable to other fields, including telemedicine and ride-sharing services.
Authme is Committed to Creating a Digital Identity Verification Wallet
In recent years, privacy concerns have come to the forefront, and regulations like the European Union’s General Data Protection Regulation (GDPR) have highlighted that privacy issues related to data and online access have become core issues in financial digitization. Authme’s ultimate goal is to create a digital identity wallet that can be used in all areas requiring identity verification. During the usage process, minimal personal information is required, giving users control over their personal data while undergoing identity verification.
Currently, mainstream AI algorithms often operate as «black boxes,» making their processes less transparent. To address this issue, the Authme team analyzes how the «input data» interacts with the decisions generated during model training and makes real-time adjustments to the algorithm. Explainable AI techniques can help resolve potential disputes, and Authme is moving in that direction.
Furthermore, Authme can train AI models through federated learning, a method that allows parameters to be shared across multiple clients’ independent datasets. This approach strengthens the system and positions Authme at the forefront of edge computing development.
