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    ADVANCE.AI: Transform Your Business with Unparalleled AI Technology

    Follow ADVANCE.AI on :

    Chief Commercial Officer,Bernardi Susastyo  , ADVANCE.AIBernardi Susastyo , Chief Commercial Officer

    At a time when businesses across the globe have become more reliant on digital technologies than ever, the pressure to act on organizations mounts, propelling them to rethink their cyber security strategies. That said, the challenges for Financial services industry (FSI) organizations that rely on digital services have aggravated in the wake of the COVID-19 pandemic. According to a study conducted by Cisco, cyber threats received every minute by Asian companies have increased by six times. It is also predicted that consumer visits to retail bank branches are set to drop by 36 per cent by 2022. Moreover, the adoption of global biometric authentication is expected to grow during 2018-2023 with compound annual growth of 22.5 per cent.

    Let’s face it: Asia is behind in coping with these transformations. Less than a third of banking executives in Asia-Pacific are equipped to handle the changing regulatory landscape, compared to 46 per cent of their peers in North America and Europe. In this scenario, the question is: how can FSI companies, in today’s day and age, leverage digital transformation and process automation, and still be able to curb and eliminate cyber threats? The answer is simple: they no longer can—at least not with the traditional methodologies.

    Coming to the rescue is ADVANCE.AI—a leading big data and AI company in Asia that specializes in solving digital transformation, fraud prevention, and process automation challenges faced by banking, fintech, retail, and e-commerce sectors. Currently operating across six markets (India, Indonesia, Malaysia, Philippines, Vietnam and Thailand), the Singapore-based ADVANCE. AI serves over 1000 clients in these sectors, empowering them with its rich industry experience and expertise. To begin with, ADVANCE.AI offers a robust, AI-powered Face Recognition solution that comprises modules like Face Comparison, Liveness Detection, Face Search, Fraud Face Detection and Face Multi platform Score. The company’s AI-powered OCR comes with ID Document Recognition (API and SDK) and Receipt Recognition and ID Document Forgery Detection. Besides these cutting-edge solutions, ADVANCE.AI’s capabilities also include NLP technology and Machine Learning algorithms for fraud detection.

    Digital Onboarding and Identity Verification ADVANCE.AI focuses on regulatory requirements and helps clients acquire full alignment and deep understanding of regulatory requirements such as involvement of data security, process robustness, and so on. The company also accelerates remote information verification through stable and reliable video calls, effective result handling, and comprehensive functions to cover all business needs. With ADVANCE.AI’s AI-powered OCR SDK, the company assures correct ID types and automatically takes ID documents photo with high quality even with low end smartphones.

    We leverage global AI technology and local data to solve Asia Identity verification problems

    The company’s portfolio of AI-powered OCR products also includes ADVANCE ID Forgery Detection—a fully automated solution that eliminates the burden of tedious review work and uncertain default risks by ensuring all types of forgeries, be it a photoshopped image or manipulated layout, can be accurately and quickly detected by ADVANCE.AI’s intelligent ML models.

    When it comes to Face recognition products, Face Comparison checks the similarity between two face photos and verifies if two faces are from the same person, usually a live selfie and an ID photo, during identity proofing or verification. ADVANCE Liveness Detection verifies the presence of a live person in front of the camera by checking the live person’s facial movements and maximally prevents the fraud attacks such as photos, videos or masks. FSI companies also benefit from ADVANCE Face Search—a product that searches the face database for similar faces and returns the similarities with a specific face photo. It helps detect identity fraud risks via facial information in real-time, as compensation to no access to the national central face database. Fraud Faces, on the other hand, detects fraud risks in real-time by using a face photo with no need for sensitive personal information like national ID card number, name, or a p hone number.

    The uniqueness of these innovative products stems from the unmatched AI technology that ADVANCE. AI brings to the table. “We localize, work directly with local clients and deploy human resources such as business development teams and technical teams for our clients. We leverage global AI technology and local data to solve Asia problems. Our Face Comparison exhibits with 99.4 percent accuracy for real-world images. Also, our Liveness SDK of 2MB is by far the best compared to 40MB from the nearest competitor,” extols Bernardi Susastyo , Chief Commercial Officer, ADVANCE.AI. He goes on to highlight the company’s proven scalable engineering expertise in handling 4 million API calls daily with no downtime in the last year. Besides bringing in the benefits of micro services architecture for fast deployment and easy integration, ADVANCE.AI also focuses on empowering its customers with highly customer-centric products.

    Despite the threats posed by the Covid-19 pandemic, ADVANCE.AI has faced well in these uncertain times, witnessing a remarkable growth of 37 per cent in its employee headcount and further expansion into six markets, namely Singapore, Indonesia, India, Vietnam, Thailand and the Philippines. With COVID-19 pandemic making banks closing many of their physical branches, they are forced to think about the immediate action plan as well as prospects with less physical touch points. ADVANCE.AI’s initiatives are focused on providing such banks with contactless digital solutions by leveraging AI technology, which can be manoeuvred to process and create a seamless and smooth customer onboarding journey, manage loan applications and analyze t he credit risk o f consumers/SMEs. While enabling faster results, higher accuracy of approvals, and reduced costs and physical contact, this also allows the businesses to rethink their operations and make the business more efficient. On the other hand, the company is also doing the scoring based on the credit report.

    Backed by reputable VCs from Silicon Valley and last series C funding of $80 million from Temasek, ADVANCE.AI is all set to enter and explore new markets like Europe, Australia, Africa, and South America.
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    Company
    ADVANCE.AI

    Headquarters
    Singapore

    Management
    Bernardi Susastyo , Chief Commercial Officer

    Description
    ADVANCE Liveness Detection verifies the presence of a live person in front of the cameraby checking the live person's facial movements and maximally prevents the fraud attacks such as photos, videos or masks. FSI companies also benefit from ADVANCE Face Search—a product that searches the face database for similar faces and returns the similarities with a specific face photo. It helps detect identity fraud risks via facial information in real-time, as compensation to no access to the national central face database.

    2020

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