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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 collection masking startups which have been part of the Mohammed Bin Rashid Innovation Fund (MBRIF) accelerator program.

It’s now widely known that cyber threats pose a big menace to companies, regardless of their measurement or location. The truth is, in a 2023 State of Cybersecurity report by ISACA, a US-based international info know-how (IT) companies 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 remove any chance of fraud and impersonation whereas buying clients. “Faceki makes a speciality of on-line fraud prevention, by means of progressive buyer onboarding options that embrace password-less biometric authentication, know your buyer (KYC) identification verification, know what you are promoting (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 precise people entry on-line companies, and accounts. At Faceki, we assist organizations create safe and user-friendly experiences by using our award-winning preoperatory facial recognition know-how.”

Launched in Bahrain in 2022, the startup made its option to the UAE in the identical 12 months. Primarily based out of the Dubai Worldwide Monetary Middle (DIFC), Faceki right now provides its companies to over 195 nations. As a platform that helps over 35 international languages, its utility programming interface (API) and software program growth equipment (SDK) include the promise of simple integration into any given enterprise’ present infrastructure. Furthermore, its companies will also be personalized to business-specific wants. “At Faceki, our groundbreaking characteristic is our cutting-edge ‘Passive Liveness’ detection know-how,” Al-Ghatam provides. “This superior know-how ensures that the person using your companies is certainly a real individual, eliminating any chance of imposters trying to deceive the system with pictures or video recordings to realize unauthorized entry to your worthwhile info or funds.”

Supply: Faceki

Nevertheless, as a buyer, it’s doable that you’ve got skilled frustration with the a number of makes an attempt generally required to finish on-line verification processes. However all of that will not be a difficulty with Faceki, Al-Ghatam guarantees. “The exceptional facet of Faceki is that it does not burden customers with any extra actions, equivalent to smiling, blinking, or turning their heads throughout onboarding,” he says. “With our revolutionary single-snap know-how, the verification course of turns into easy and impressively 10 occasions quicker. Most significantly, our ‘Passive Liveness’ detection ensures that solely the rightful particular person can entry your distinctive companies.”

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Already, Faceki’s options have been favored by outstanding native companies equivalent to DIFC Courts, Dubai-based international digital vault Tejouri, and Dubai-based Web3 agency Meta Crypto. And in response to Al-Ghatam, Faceki’s outcomes up to now are a direct validation of the standard of companies 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 achieve entry to our highly effective instruments for person verification carried out by Faceki, and are billed based mostly on the variety of verifications performed. Our companies thus cater to companies in varied industries, together with fintech, governments, supply, safety, recruitment, and plenty of extra, offering assist for paperwork and IDs from over 195 nations worldwide.”

However as a lot as Faceki stays massively tech-driven, a lot of its success seems to be rooted in its capability to grasp buyer wants. “At Faceki, we thrive on innovation- it’s the driving pressure behind our know-how and enterprise,” Al-Ghatam says. “What units us aside is our capability to carry progressive applied sciences that simplify the onboarding course of and detect fraud. However we additionally strongly consider that as a way to push innovation even additional, we should forge a stronger human reference to our clients and finish customers. By really understanding their wants, behaviors, likes, and dislikes, we can’t solely defend them, but in addition make accessing digital companies 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 line with Al-Ghatam, there could not have been a extra supreme location to carry all of those thought processes to fruition than the Emirate of Dubai. “Dubai is an extremely engaging marketplace for startups on account of its well-established infrastructure, regulatory framework, and fast progress,” 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 turn out to be extremely aggressive, there are quite a few extraordinary platforms and applications obtainable within the nation to assist startup progress. The likes of the MBRIF and Dubai Future Basis provide invaluable alternatives for entrepreneurs.”

Close to the MBRIF Innovation Accelerator program specifically, Al-Ghatam believes that it may maintain the important thing to unlocking alternatives for Faceki. “This program is really extraordinary, boasting a powerful historical past of empowering groundbreaking startups to succeed in their targets and create worth by seamlessly integrating them into the Dubai ecosystem,” Al-Ghatam says. “And so, I consider it possesses the potential to expedite progress and foster invaluable alternatives for a extra promising future for Faceki.”

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