Oz Forensics modernizes KYC for Plata, providing seamless and secure biometric authentication
Oz Forensics and Plata have revolutionized KYC for POS WEB-credit products and enhanced security and trust while ensuring compliance.
Description
Founded in 2022, Plata is an innovative Mexican financial technology platform based on artificial intelligence. Plata’s mission is to simplify the financial experience for its users, making it more accessible, convenient, and reliable. The company’s first product was a credit card with cash rewards and customizable benefits, followed by Plata Difiere, a BNPL (Buy Now, Pay Later) solution. By the end of 2023, Plata had strengthened its presence in Mexico, with cards delivered personally to customers in more than 50 cities across the country.
The rapid growth in the number of Plata Difiere users created a need to improve the security and efficiency of customer onboarding. In 2023, Plata integrated Oz Forensics biometric technologies into its KYC (Know Your Customer) system to enhance security and improve service usability.
Why this choice?
Plata has implemented Oz Biometry, a solution for facial recognition during identity verification, and Oz Liveness, a solution for preventing biometric attacks. Both solutions are cloud-based.
Plata's decision was based on several strategic factors that directly address their business needs. The Oz Forensics solutions offered:
Superior Accuracy and Security: With a high degree of accuracy and a focus on preventing biometric fraud, the solutions guaranteed the protection of sensitive customer data and built trust in the Plata brand.
Operational Efficiency: The solutions enabled Plata to conduct its KYC checks online, with each check taking no more than 10 seconds. This improved the efficiency of customer registration and reduced operational costs by over 20%.
Scalability for Growth: Plata's rapid growth demanded a solution that could scale with its business. The innovative, cloud-based nature of Oz Biometry and Oz Liveness provided the potential for long-term cooperation and adaptation to changing market conditions.
A Reliable Partnership: Plata found a reliable partner in Oz Forensics, one that shared its values and provided excellent communication and a personalized approach throughout the integration process.
The Game-Changing Results
More than 100,000 KYC checks every month
100,000
Operational costs reduced by 20%.
20%
99% biometric check conversion rate
99%
About
Plata stands as a pioneering high-tech financial platform, dedicated to reshaping the landscape of personal finance interactions. At the heart of their mission is a commitment to provide customers with an exceptional, user-friendly, and dependable financial experience. In a world where managing complex finances can often be overwhelming, Plata serves as a beacon of simplicity and efficiency, striving to eliminate the frustrations that frequently accompany intricate financial processes. Through innovative solutions and unwavering dedication, they transform how individuals engage with and manage their financial well-being, making financial empowerment accessible to all.
Testimonial
"Our partnership with Oz Forensics has been a transformative experience for our company. Their cutting-edge biometric technology is seamlessly integrated into our KYC flow, elevating both security and efficiency in customer onboarding for Buy Now, Pay Later credit products. The ease of customization, high standards of the solutions, and excellent communication with the Oz Forensics team have been pivotal. We are confident in the success of this partnership and look forward to future collaborations."
— Alexander Bro, Chief Business Development Officer at Plata.
