Sunny Leone raised this issue few months back, “This just happened to me. INSANE. Some idiot used my Pan to take a 2000 RS loan and Fu***d my CIBIL score.”

How does a Fintech / Lender avoid this security threat?

We can do the “face match” in the borrower onboarding journey.

  1.  Basically, we ask the borrower to upload their video or take a photo.
  2. In the video, we can quickly check his liveliness by asking them to blink their eyes for few times. (validate whether its a Human or not)
  3. Then, the Face match API will look at the structure of the face. It considers the dimensions, the depth, etc., and validates the face with the Aadhar/CKYC’ face. We will get a score as an output. Here a lender can set a threshold. We can stop the approval process if it’s below the threshold value.

It’s simple stuff, but I don’t see it in most digital lending apps today.

Any other suggestions, please feel free to add them here.

#fintech #lendtech #digitallending #manispeaksmoney

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