SOURCE: Giesecke & Devrient

Giesecke & Devrient

SOURCE: Danal, Inc.

Danal, Inc.

February 28, 2017 09:11 ET

Giesecke & Devrient (G&D) & Danal Inc., partner to bring next generation KYC and AML compliant Video Identification Service to Regulated Industries utilizing Mobile Connect standard

MUNICH, GERMANY and SAN JOSE, CA--(Marketwired - February 28, 2017) - G&D, a global leader in mobile security solutions and Danal Inc., a global leader in mobile identity, authentication & verification services, will jointly present a solution at the 2017 Mobile World Congress in Barcelona, where the G&D Video Identification service coupled with Danal Mobile ID services, present a very strong remote KYC (Know Your Customer) and AML (Anti-Money Laundering) compliant offer for online regulated industries.

In many countries, regulated industries such as banking, gaming and insurance, still require a live person to perform the regulatory compliant KYC or AML check. As these traditional businesses move online, this requirement can still be met using strong identity verification and document checks with a live agent via video conferencing. When this is combined with the GSMA's Mobile Connect, for strong mobile authentication and the matching of personal data attributes captured from the manual entry by the applicant, ID documents and the subscriber information on file with the mobile operators, the verification is as strong, if not stronger than in-person checks. Mobile Connect is a mobile-based secure universal identity solution, defined as standard by the GSMA, which works by matching the user to their mobile phone number.

This presented solution significantly lowers the costs and time taken to perform KYC and is compliant with new AML (Anti Money Laundering) and CFT (Counter Financing of Terrorism) directives, while at the same time significantly improving the overall KYC experience for the user. This is the first time an online video identification service for KYC is combined with additional verification based on mobile network operator's authoritative data.

The approach implements Mobile Connect authentication in addition with the end user's consent to their Mobile Network Operator for sharing personal data attributes for this additional check. Mobile Connect is fulfilling an important role in the digital identity space, giving users control over their own data and enabling end users, businesses, and governments alike to interact and access online service in a convenient, private and trusted environment. Orange Spain subscribers will be able to engage with this demonstration with live Mobile Connect experience.

The combined solution from G&D and Danal will be demonstrated at MWC 2017 on the Orange Pavilion (hall 3, booth 3D10).

About Giesecke & Devrient
Giesecke & Devrient (G&D) is a leading international technology provider headquartered in Munich, Germany. Founded in 1852, the Group has a workforce of ca. 11,400 employees and generated sales of approximately EUR 2 billion in the 2015 fiscal year. 58 subsidiaries and joint ventures in 31 countries ensure customer proximity worldwide.

G&D develops, produces, and distributes products and solutions in the payment, secure communication, and identity management sectors. G&D is a technology leader in these markets and holds a strong competitive position. The Group's customer base mainly comprises central and commercial banks, mobile network operators, business enterprises, governments, and public authorities. For more information, please visit: www.gi-de.com.

About Danal
Danal, Inc. is the premier provider of mobile identity and authentication solutions driven by unique real-time connections to mobile operator networks and data. Danal's Mobile Identity platform offers financial institutions and major retailers groundbreaking mobile transaction risk management services, compliance services such as TCPA and KYC, and streamlined, customer conversion solutions that lower customer abandon rates during registration and checkout. Danal, Inc. is a privately held US company whose investors include Discover Financial Services, Morgenthaler Group and majority shareholder Danal Co, Ltd., a publicly traded company (KOSDAQ) based in South Korea with offices worldwide. More information at: www.danalinc.com.