QIU joins forces with Cardzone to develop facial recognition identification software
 
Oct 10, 2019
Category:

MoA to develop identification technology that will radically speed up financial service application processes
For Immediate Release

PETALING JAYA, Oct 9, 2019 --( ASIA TODAY )-- Quest International University Perak (QIU) today signed a Memorandum of Agreement (MoA) to collaborate with one of Malaysia’s leading payment solution providers Cardzone Sdn Bhd in the development of a revolutionary new Face Comparison and document identification Program for “Electronic Know Your Customer” (eKYC) processes.

This fascinating technology will use facial recognition systems to automatically verify the identities of individuals applying for payment cards and electronic payment accounts.

Developed by QIU’s students and lecturers, the project is yet another example of QIU’s hands-on education manifesting in real-world, industry-relevant innovations.

On hand to sign the MoA was QIU Chief Operating Officer (COO) Nicholas Goh and Cardzone Sdn Bhd Chief Executive Officer (CEO) Danny Lo. The signing was witnessed by QIU Council member Tan Sri Dato Seri Megat Najmuddin Datuk Seri Dr Hj Megat Khas, and Datuk Raymond Yeong, Executive Chairman of Cardzone Sdn Bhd.

Also present was QIU Vice-Chancellor Professor Dato’ Dr Raman Narayanasamy and QIU Registrar Muhammad MG Omar.

At the moment, most local Know Your Customers (KYC) verifications still use the ‘traditional’ method – providing their National Registration Identity Card (NRIC) to agents or visiting bank branches to verify their identity manually.

But as one of the leading providers of card management systems, payment solutions and consulting services in Malaysia, Cardzone utilises innovative mobile application technology to facilitate identity verification processes.

Today’s collaboration will work towards the development of an automatic and secured verification process using a ‘selfie’ video face recognition and document authentication system, applying Computer Vision and Machine Learning Techniques.

This will remove a tedious, time-consuming, and error prone process in applicant identity authentication process. The system will significantly increase productivity and efficiency, while also improving the customers experience.

In 2018, QIU and Cardzone began their partnership by signing a research contract to discover Data Mining and Machine Learning techniques for fraud detection in credit card transactions.

With the success of the initial ventures, it was only a matter of time before further collaborations took flight.

Mr Nicholas Goh, Chief Operating Officer of QIU said, “This innovation is a prime example of our hands-on education at work. Guided by our experienced academics, our students are already creating cutting-edge technology that redefines new boundaries in their respective fields.”

“Nearly 80 percent of our lecturers have industry-experience, and their connections provide our students with the knowledge and skills to make an immediate impact in the real world.”

Mr. Danny Lo, Chief Executive Officer Cardzone Sdn Bhd, added, “The era of digital transformation has radically impacted the way businesses use technology. Most of our Financial Institution customers have also embarked on their digital transformation journey with the aim of providing frictionless and excellent digital experience to their end customers. For these financial institutions, our collaboration addresses these issues head on.”

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About QIU ( www.qiup.edu.my)

Perak (QIU) is a private and comprehensive research-led university established under the Higher Educational Institutions Act 555 in the state of Perak, Malaysia on June 12th 2008. It is owned by Global Integrated Training Associates Sdn Bhd, and the State Government of Perak has equity participation along with the QI Group.

Since its inception, the University has endeavoured to be more than a mere degree mill, in line with the vision of its founder Dato Seri Dr Vijay Eswaran.

Combining industry-trained lecturers with infrastructure and facilities that mirror the real-world, QIU excels in creating students who are immediately ready to make an difference in their respective fields.

The technology driving today’s collaboration was created by their students – cutting-edge, impactful innovation that mixes the fresh creativity of youth with sharp technical know-how. QIU’s School of Computing has maintained a tradition of excellence, winning numerous competitions and collaborating on several Artificial Intelligence-related projects with academics and the industry.

There are five Faculties and one Centre at QIU – the Faculty of Medicine, the Faculty of Science and Technology, the Faculty of Business and Management, the Faculty of Social Sciences, the Faculty of Pharmacy and the Centre for Research and Innovation. QIU offers programmes at Foundation, Diploma, Degree and Postgraduate levels. Further information can be obtained at www.qiup.edu.my

About Cardzone Sdn Bhd ( www.cardzone.com.my)

Run by veteran card business and card system professionals, Cardzone focuses on designing, developing and deploying innovative and modern payment solutions. Cardzone provides Card Management System to financial institutions for issuing of credit cards, debit/ATM cards, loyalty cards, prepaid cards, fleet cards, gift cards etc and acquiring of payment transactions from all the channels like ATM, POS, e-Commerce and m-Commerce etc.

In line with their mission to be a business and technology leader in the payment industry, Cardzone are truly making waves. They recently received The BrandLaureate Top 12 – SMEs Signature Awards for BestBrands in Fintech 2019 and a Gold Award for Best Global Market at the Star Outstanding Business Awards (SOBA) 2018

Cardzone has also joined forces with CTC Malaysia, technology arm of Japanese ITOCHU Group, combining its next-generation payment solution with CTC Malaysia’s CUVIC Cloud infrastructure, to enable Financial Institutions to adopt the new payment technology to accelerate digital transformation and go-to-market initiatives.

Cardzone has close to 40 bank customers covering 8 countries in Asia Pacific region and growing rapidly.