Startup Spotlight: UAE-Based Faceki’s Is Introducing Easier Methods To Prevent Online Fraud And Impersonation

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This text is a part of an ongoing sequence protecting startups which have been part of the Mohammed Bin Rashid Innovation Fund (MBRIF) accelerator program.

It’s now well known that cyber threats pose a major risk to companies, regardless of their dimension or location. The truth is, in a 2023 State of Cybersecurity report by ISACA, a US-based international data expertise (IT) providers and consulting platform, notes {that a} staggering 48% of organizations reported a rise in cyberattacks in 2023, as in comparison with 2022. In such a panorama, UAE-based on-line fraud prevention platform Faceki has give you a service that may simply get rid of any chance of fraud and impersonation whereas buying prospects. “Faceki focuses on on-line fraud prevention, by revolutionary buyer onboarding options that embody password-less biometric authentication, know your buyer (KYC) id verification, know your online business (KYB) verification, and anti-money laundering (AML) instruments,” says Hamza Al-Ghatam, co-founder and CEO of Faceki. “We thus be certain that solely the correct people entry on-line providers, and accounts. At Faceki, we assist organizations create safe and user-friendly experiences by using our award-winning preoperatory facial recognition expertise.”

Launched in Bahrain in 2022, the startup made its technique to the UAE in the identical yr. Primarily based out of the Dubai Worldwide Monetary Heart (DIFC), Faceki immediately provides its providers to over 195 international locations. As a platform that helps over 35 international languages, its utility programming interface (API) and software program improvement package (SDK) include the promise of simple integration into any given enterprise’ current infrastructure. Furthermore, its providers may also be personalized to business-specific wants. “At Faceki, our groundbreaking characteristic is our cutting-edge ‘Passive Liveness’ detection expertise,” Al-Ghatam provides. “This superior expertise ensures that the person using your providers is certainly a real individual, eliminating any chance of imposters making an attempt to deceive the system with images or video recordings to realize unauthorized entry to your beneficial data or funds.”

Supply: Faceki

Nevertheless, as a buyer, it’s potential that you’ve got skilled frustration with the a number of makes an attempt typically required to finish on-line verification processes. However all of that will not be a problem with Faceki, Al-Ghatam guarantees. “The outstanding facet of Faceki is that it would not burden customers with any further actions, comparable to smiling, blinking, or turning their heads throughout onboarding,” he says. “With our revolutionary single-snap expertise, the verification course of turns into easy and impressively 10 instances sooner. Most significantly, our ‘Passive Liveness’ detection ensures that solely the rightful particular person can entry your distinctive providers.”

Associated: Startup Highlight: Abu Dhabi-Primarily based Hulexo Is Right here To Cut back Operational Bottlenecks For Small Companies

Already, Faceki’s options have been favored by outstanding native corporations comparable to DIFC Courts, Dubai-based international digital vault Tejouri, and Dubai-based Web3 agency Meta Crypto. And in line with Al-Ghatam, Faceki’s outcomes thus far are a direct validation of the standard of providers it provides. “As a B2B software-as-a-service (SaaS) firm, our cutting-edge options can be found in each cloud and on-premise choices,” he continues. “By subscribing to our service, organizations acquire entry to our highly effective instruments for consumer verification carried out by Faceki, and are billed primarily based on the variety of verifications carried out. Our providers thus cater to companies in numerous industries, together with fintech, governments, supply, safety, recruitment, and lots of extra, offering help for paperwork and IDs from over 195 international locations worldwide.”

However as a lot as Faceki stays massively tech-driven, a lot of its success seems to be rooted in its capacity to know buyer wants. “At Faceki, we thrive on innovation- it’s the driving drive behind our expertise and enterprise,” Al-Ghatam says. “What units us aside is our capacity to convey revolutionary applied sciences that simplify the onboarding course of and detect fraud. However we additionally strongly imagine that with the intention to push innovation even additional, we should forge a stronger human reference to our prospects and finish customers. By actually understanding their wants, behaviors, likes, and dislikes, we can’t solely defend them, but additionally make accessing digital providers a breeze. To attain this, we conduct interviews and facilitate dialogue circles to realize a deeper understanding of their necessities, and collect extra correct suggestions.”

Supply: Faceki

In accordance with Al-Ghatam, there could not have been a extra superb location to convey all of those thought processes to fruition than the Emirate of Dubai. “Dubai is an extremely attractive marketplace for startups as a consequence of its well-established infrastructure, regulatory framework, and fast development,” he says. “These components have been nurtured by the federal government’s dedication to innovation and excellence. Whereas it’s true that the market has change into extremely aggressive, there are quite a few extraordinary platforms and applications obtainable within the nation to help startup development. The likes of the MBRIF and Dubai Future Basis provide invaluable alternatives for entrepreneurs.”

On the subject of the MBRIF Innovation Accelerator program specifically, Al-Ghatam believes that it might maintain the important thing to unlocking alternatives for Faceki. “This program is actually extraordinary, boasting a powerful historical past of empowering groundbreaking startups to achieve their objectives and create worth by seamlessly integrating them into the Dubai ecosystem,” Al-Ghatam says. “And so, I imagine it possesses the potential to expedite development and foster invaluable alternatives for a extra promising future for Faceki.”

Associated: Startup Highlight: UAE-Primarily based Lisan’s AI-Powered Proofreading Platform Ensures Error-Free Arabic Writing

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