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Japan’s Know Your Customer (KYC) Requirements: A Comprehensive Guide
In Japan, the Know Your Customer (KYC) requirements have become increasingly stringent, particularly for businesses operating in the finance and telecommunications sectors. The Japanese government has implemented a range of regulations to prevent financial crimes and ensure the integrity of customer identities.
Liquid’s eKYC Solution: A Comprehensive Identity Verification Platform
To navigate these complex KYC requirements, Liquid offers a comprehensive identity verification platform that combines document and appearance capture with advanced image processing technology. This cutting-edge solution enables businesses to accurately verify customer identities in compliance with Japanese regulations.
Industry-Specific Solutions
Liquid’s eKYC platform has been successfully implemented across various industries, including:
- Finance
- Telecommunications
- Second-hand shops
- Sharing economy-related services
- Dating apps
- Cryptocurrency trading services
- Web3-related services like blockchain game guild services
Each industry requires unique KYC solutions, and Liquid’s platform is designed to adapt to these specific needs.
Advanced Image Processing Technology
Liquid’s proprietary image processing technology enables high accuracy in automatic facial recognition, with a face recognition rate of 1/100,000 or less for driver’s license photos and selfie photos. This advanced technology reduces drop-off rates and blurry images, ensuring reliable customer identity verification.
Centralized Security and Performance
Liquid operates its platform on the cloud service AWS, providing centralized security and performance management in compliance with Japanese laws. Each business receives individual database-level security, ensuring confidentiality and integrity of sensitive customer data.
Annual Security Audit and Experienced Reviewers
To ensure the highest level of security, Liquid conducts an annual security audit by a third-party organization. Additionally, experienced reviewers are available 24/7 to review NG results from AI verification, guaranteeing timely processing of applications and high levels of reliability in the verification process.
Japan-Specific KYC Requirements Simplified
In Japan, each type of service requires unique KYC rules, making it challenging for businesses to comply. Liquid’s eKYC Dashboard simplifies this process by allowing businesses to set up screening points according to Japanese regulations, ensuring accurate completion and reducing errors.
Continuous Language Expansion
Liquid is continually expanding its supported languages to cater to a broader range of customers worldwide.
Binance Japan Partnership
In the first step of this initiative, Liquid will provide its eKYC identity verification service to Binance Japan, demonstrating its commitment to supporting Japanese businesses in meeting their KYC requirements.
Get Started with Liquid’s eKYC Solution
For more information on how Liquid’s eKYC solution can help your business navigate Japan’s complex KYC requirements, please contact us today. Our sales representative will be happy to discuss your specific needs and provide a customized quote for our services.