JenID Solutions GmbH is now part of the largest fintech node in the Middle East, the Bahrain Fintech Bay. The new partnership opens up future markets for jenID in the Arab world and in Africa.
Bahrain Fintech Bay is the largest fintech hub in the Middle East
It is headquartered in the Bahrain capital Manama and operates branches worldwide, including Singapore and the US. The goal of Bahrain Fintech Bay is to provide a platform for networking between financial and tech industry players, to advance research in the fintech sector, and to act as an actor in start-ups or in partnerships. Bahrain Fintech Bay brings together companies such as BNP Paribas, Microsoft or American Express as well as well-known banks in the Middle East.
jenID will work with Bahrain Fintech Bay in the future on online identity solutions. The intention of the two partners is to establish simple technical solutions for online identity identification in the oriental banking sector. jenID offers the technical process, while the Bahrain Fintech Bay will take on the area of acquisition.
JenID is great potential
“JenID gives access to a market with great potential. Currently, the number of Internet users in the Arab-speaking cultural area alone is around 184 million people. The demand for easy and secure solutions to do business online is growing steadily. JenID’s offer is just right here. We are delighted to have found a partner in Bahrain Fintech Bay that will help us enter this market”, said Thomas Winter, managing director of jenID.
The identity check by jenID is versatile. It is used to check the authenticity of a large repertoire of official documents. For this purpose, jenID uses a database containing checked papers as a template and compares them with a photo of the provided ID document. At the same time, the “Liveness Detection” process using a face balance ensures that the user in front of the camera is also the person on the ID card. JenID’s method offers maximum security and the highest data protection with the fastest possible implementation.
This is how the verification of identities with jenID technology works
The user photographs or scans the front and back of his document. The document is checked in seconds by algorithms for its security features. At the same time, a facial alignment of the ID card with the user’s face takes place in front of the camera. The “Liveness Detection” determines whether this face is a deception, for example by a mask, or a real person. Only if everything matches, the verification is successful.
For these industries the jenID solution is particularly suitable
JenID Solutions’ software can be used in all industries where identity checks are common. So z. For example, when opening an account, the car rental or age verification for alcohol purchase and gambling. In addition, there is a broad coverage for tour operators and airlines, which must verify the identity of their international customers.
Also published on Medium.