Fintech company ATFX announced that it has launched a new face recognition technology for customers to open trading accounts. It is reported that this new service is to ensure that it can provide customers with security. This face recognition technology will verify customer identity when opening an account online. It is currently tested in the East and soon the company will apply the premium version to the global market.

Customers will now be able to open accounts and trade anywhere, anytime, in 60 seconds, without having to visit the office and create new security standards. The customer only needs to fill in the necessary information and import a personally identifiable information (ID) picture. An optical character recognition (OCR) system can then automatically read and recognize ID information and the geometry of the customer's face, which can significantly reduce time and errors compared to traditional methods.

In order to achieve the necessary level of compliance and to combat increasing identity fraud, ATFX and Electronic IDentification work together to provide a unified solution for all compliance and user entry.

An ATFX representative said, "ATFX attaches importance to the security of customer data, so we have used various technologies to prevent risks steadily. This technology will help enhance the security standards and precision in client’s identity verification at offices, thus reducing identity theft in account opening. "

"Electronic IDentification is thrilled to provide its Video IDentification technology to ATFX to drastically reduce fraud and improve customer onboarding while compliant with the highest regulations worldwide."