Tuesday
August 28
2018

African microlender OKash integrates facial recognition to prevent fraud

By Chris Burt

African microlender OKash has integrated facial recognition into its mobile app to reduce fraud and improve user experience, Kenyan news outlet TUKO reports.

A recent report by Financial Sector Deepening suggests that 73 percent of Kenyans have a mobile money account, and the country has one of the world’s fastest-growing digital economies, according to TUKO, but mobile money fraud has become a widespread problem.

Photo courtesy of Danor Shtruzman.

Source: Biometric Update (link opens in a new window)

Categories
Finance, Technology
Tags
biometrics, digital finance, emerging markets, fintech, microfinance, microlending, mobile money