MoMo, a fintech group based in Vietnam, and iProov, a company that specializes in biometric identity verification solutions, have entered into a strategic partnership aimed at combating digital fraud. This collaboration enhances MoMo’s dedication to ensuring user trust by introducing robust security measures for its remote ID verification processes.

The current landscape of digital fraud in Vietnam

With the rise of generative AI, it has become increasingly challenging for regulatory bodies and anti-fraud companies to effectively detect and mitigate digital crimes. The State Bank of Vietnam responded by issuing Decision 2345, which requires stringent biometric authentication for online transactions. In anticipation of these new guidelines, MoMo teamed up with iProov, integrating its biometric authentication solution into Dynamic Liveness technology to guarantee every transaction is secure and verified as coming from a genuine human.

iProov’s Dynamic Liveness feature incorporates cutting-edge technologies designed to withstand sophisticated forms of digital and AI-based fraud. The system confirms the presence of an actual person rather than relying on photos, videos, or deepfakes. In high-stake sectors like finance, such technology is critical in preventing fraudulent activities, safeguarding customer accounts from unauthorized access, and maintaining a high level of trust in the platform’s security.

MoMo, committed to advancing financial inclusion through its innovative super app, recognizes the importance of upholding user confidence. The partnership with iProov will arm MoMo against AI-driven fraud, including deepfakes, thereby reinforcing the application’s reliability and security for its users.

Further details about MoMo and iProov

Currently serving 30 million users and multiple partners across Vietnam, MoMo plays a pivotal role in fostering the country’s digital economy and promoting financial inclusion. As one of Vietnam’s four fintech unicorns, MoMo is dedicated to improving people’s daily lives through smarter, safer, and more affordable financial services.

iProov offers biometric solutions that facilitate secure remote onboarding and authentication for both digital and physical access. Its proprietary technology provides robust protection against gen AI threats, deepfakes, and other forms of digital fraud. Trusted by governments and financial institutions worldwide, including ING, UBS, and the US Department of Homeland Security, iProov’s solutions are at the forefront of secure authentication methods.