Text Matching AI
Name, the most important value for verifying one's identity, has an aspect that one can be expressed in different ways as shown below.
This characteristic of name cause unexpected problems throughout the KYC and AML processes.
One of them is when you have to judge 'the two are the same person?', at point of AML screening and duplicate approval prevention.
For example, if a exchanger carries out a promotion for KYC verification, the best scenario for them will be 'One verification for one'.
But what if a user proceeds first KYC with local Id and second KYC with international passport, how do we figure out that it's actually one person?
To solve this problem, ARGOS adopted 'Text Matching AI' to compare names.
Text matching AI is an algorithm that scores the similarity of two text. We try to deal with typing errors, nicknames, initials, titles with it. The AI translates 14 languages and applies 15 matching logic.
With years of KYC know-how, ARGOS has found a way to better clarify names. It enables us to offer two values to our clients.
First is automated KYC. Even when the result from OCR AI differs form user input due to misspell etc, you will get the KYC status result immediately without waiting for manual review.
Second one is to filter out the duplicated users which becomes quite significant issue for verifying users. Even when the type of ID changes or names are in different languages, we will catch them.