iProov teams up with MoMo to safeguard against digital fraud

iProov teams up with MoMo to safeguard against digital fraud

iProov, the world's leading provider of science-based biometric identity verification solutions, has announced that MoMo is enhancing security for its tens of millions of users by deploying iProov Dynamic Liveness.

The move reinforces MoMo’s commitment to user trust, providing the highest level of security for its remote identity verification processes while protecting its customers from sophisticated digital identity fraud, such as deepfakes and digital injection attacks.

The financial services and payments sector is facing a global surge in sophisticated threats driven by generative AI, and in response, the State Bank of Vietnam has issued Decision 2345, which mandates stronger biometric authentication for online transactions. To proactively meet these new regulatory requirements and uphold its core theme of trust, MoMo has integrated iProov’s biometric authentication with Dynamic Liveness to ensure every transaction and interaction is secure and genuinely human.

iProov Dynamic Liveness utilises patented Flashmark™ technology to defend against the most advanced AI-driven threats. The system verifies that the individual is a real person, the right person, and the person is present, and not a photo, video, or deepfake presented to the camera. In high-risk scenarios like financial services, this high level of identity assurance is crucial for preventing fraudulent transactions, protecting user accounts from unauthorised access, and sustaining user confidence in the platform's security.

"At MoMo, we are committed to advancing financial inclusion through a smart, accessible, and trusted super app. Maintaining that trust is the top priority in every decision we make for our users," said Pham Kim Long, head of AI and big data at MoMo. "As digital threats evolve, so must our defences. Integrating iProov’s industry-leading technology provides an unparalleled layer of security, combating fraud like deepfakes and ensuring our users feel safe and confident in every interaction with MoMo."

"We are delighted to be selected by MoMo, who so clearly prioritises user trust and security," said Andrew Bud, founder and CEO of iProov. "In an era of GenAI, protecting against sophisticated fraud is essential for enhancing user engagement and expanding digital financial services. Our Dynamic Liveness technology provides the high level of identity assurance needed to build that trusted ecosystem, enabling MoMo to continue its mission of financial inclusion safely and securely."

VIR