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April 29, 2020

Remote lending in Moneza app gets more secure with identification solution from Smart Engines

Microcredit lending organization Macro (Brand Company of Moneza, part of TWINO Group) entered into a cooperation agreement with the developer of document recognition systems Smart Engines. The agreement implies integration of AI-based ID recognition systems into Moneza application to automate user on-boarding and customer identification.  

The introduction of Smart Engines technology helps to provide seamless user registration and verification of existing clients, making remote identification processes in Moneza app simple, fast and secure. The technology verifies the personal information upon provision of the passport image, and is effectively used to detect and prevent frauds, including use of other individual’s identity documents or use of fake documents. The system also checks the evidence of forged documents based on the recognition of a machine-readable zone (MRZ) and the intellectual analysis of areas with protection elements. 

Smart Engines technology ensures security of personal data processing and minimizes the risk of document image leak, since the document gets recognized completely autonomously within Moneza’s safety contour without being transferred to external services for manual or any form of processing.

 “When all the services which remain relevant even in times of isolation go completely online (such as financial services, insurance, healthcare services), it is very important that this transition does not affect the security of user data. Our company has always been prioritizing data security, so that those organizations, particularly financial institutions, that focus on service automation and remote servicing, get a software product that meets the strictest international regulations related to personal data security.” Vladimir Arlazarov, Ph.D., CEO of Smart Engines

“We are interested in making our application as independent from the operators and environmental conditions as possible. We go completely online, we save the time of our customers, and we make the lending process quick, easy and secure. We want our service to be modern, technological, innovative and be second to none in terms of world standards of user experience. In this regard, the high level developments of Russian scientists allow us to improve the quality and convenience of our application, ”comments Ashot Torosyan, CEO at TWINO.

In March 2020, the Moneza client application received the special award in the nomination “Online loan application” for popularity, technological effectiveness and quality service on the banki.ru portal.

About Moneza (TWINO Group)

TWINO is one of Europe’s largest international fintech groups. The company was founded in 2009 in Riga, Latvia, and today successfully operates in many locations around the world, including: Denmark, Spain, Russia, Latvia, Poland, Georgia, Kazakhstan and more. One of the services that the company offers is a fully automated funds approval and issuance process, for which TWINO uses probabilistic methods to evaluate borrowers based on statistics and data collected from various sources. The algorithm of TWINO scoring system includes over 10,000 aggregates, including multiple search technologies, big data and data mining, internal credit history, antifraud services and data from the largest bureaus of credit history. The company has many prestigious awards and a long list of accomplishments: in 2018, the company entered the Top 3 fastest growing European startups according to the European FinTech Awards, and also won the Digital Top 50 award, organized by Google, McKinsey and Rocket Internet, as the best FinTech company in the field of alternative lending in Europe.

About Smart Engines

Smart Engines is a Russia-based company, world’s leading supplier of integrated solutions for the recognition of identification documents based on years of fundamental R&D conducted by Russian scientists in the field of image recognition and processing, machine learning, high-load systems, recognition in the video stream and algorithmic optimization. IT, communications and financial markets’ leaders are using Smart Engines solutions, which are key contributors to development of the digital economy infrastructure, providing high recognition accuracy and ensuring security of personal data. 

Test Drive Our Smart Engines

Free demo apps allow you to experience the power of Smart Engines software for intelligent document scanning in a real-world context.

Why not experience the power of Smart Engines for yourself? Our demo apps allow you to test the capabilities of our identity document recognition software on mobile devices in videostream or in a single image (photo, scan).

Simply display any document to the camera in real-time or choose a photo from the gallery, and the app will recognize and capture the necessary data.

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