AI goes banking: Ondato presented unique KYC solution

Major start-ups conference Slush in Helsinki featured a Lithuanian accent as Vilnius based fintech company Ondato presented its unique KYC (Know Your Customer) solution for the community of start-up creators and investors. Based on biometrics and AI technologies, Ondato KYC have already made history a month ago when it became a finalist of Lighthouse project implemented by MasterCard and investment fund NFT Ventures. Ondato have already launched pilot project of implementing its new solution at one of Lithuanian banks.

“Slush is the most important event of the year for all start-up community. And it is definitely not the one where only formal exchange of news and business cards is taking place. Here you can directly verify your ideas with an audience that is both critical and rational. Our solution got attention not only from colleagues, but also from investors and potential clients as there are very few really functional and complex KYC instruments in the market,” said Liudas Kanapienis, CEO at Ondato.

Ondato is a solution for KYC powered by by Big Data analysis and driven by AI. The Ondato KYC is complex set of biometrics, remote identification and customer scoring tools, which can be used regardless of the location of the client. Onboarding process is implemented using video identification and voice recognition system with AI embedded. Ondato KYC provides a possibility to virtually contact a bank from any place in the world, register quickly and get instant validation. The probability of mistakes is eliminated by the factor that procedures of the client’s recognition and registration at the bank are being carried out by AI-based program rather than a person. Slush is a world’s biggest start-ups community event. Over the past seven years, Slush has grown from a 300-person gathering to become a global community organizing more than 75 events with +40,000 attendees all around the world.

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