SOLUTIONS

Identity fraud & illegal activities/crimes using fake identity has become a prevalent & escalating concern not only for the booming economies, but also for the developed countries. As per the study of Javelin Strategy & Research, a massive sum of 14.4 million were the victims of identity fraud in 2018, with a total cost in billions of dollars. Unauthorized use of credentials, hacking, forgery is leading to massive financial loss to individuals, governments & businesses and at the same time bringing security threat to the entire society.

The scale of identity misuse, related frauds & resulting crimes compelled us to ideate some intelligent digital solution that could bring down such impersonation concerns drastically down and build a safer & secure ecosystem. Also, such solution should be able to make a visible impact on the environment as a whole and ensure our pledge towards making a minimum carbon footprint globe.

Biocube’s versatile platform and easily adaptable architecture enable Effortless integration with multiple domains & various use cases.

1
Illegal Immigration with ID Fraud

Shocking scale of Illegal Immigrants:


US10 Million+
UK1.2 Million+
India20 Million+
Illegal Immigration costs US economy
USD 250 Billion/Year
2
Fraud in Public Distribution

20% of Government Revenue lost Worldwide in impersonation fraud in Public Distribution amounting
USD 5 Trillion


Frauds in Govt. Fund in US alone stands at
USD 148 Billion/Year
3
Banking & Payment Industry Fraud

Estimated scale of Fraud in Financial Sector:


USUSD 17 Billion/ Year
UKUSD 1.7 Billion/ Year
IndiaUSD 25 Billion/ Year
Skyrocketing fraud in India fintech sector with
259% Y-o-Y growth
4
Impersonation in Insurance Industry

Insurance Fraud results increased premium burden on genuine users. The figures


USUSD 100 Billion/ Year
UKUSD 100 Billion/ Year
IndiaUSD 3 Billion/Year
Frauds in Govt. Fund in US alone stands at
USD 6 Billion/ Year
7
Immigration Services
Solutions

Visa Process Made Simpler

Self-Service Bio-Visa Application & Faster Processing with Verified Bio-Identity & Enhanced Security

Visa facilitation drives economic growth, but fraud leads to risk, crime & terrorism. A seamless Visa process, while ensuring security has become crucial for the issuing authority. Current process requires physical visits to Visa centers, paperwork & a long process time- which is inconvenient, tamper-prone & troublesome.

Biocube’s contactless mobile visa application process offers travellers a flexibility to apply for visa at their own convenience using own mobile device, with no physical visits to VISA centers and zero paperwork. It is about ensuring convenience & security at the same time.

Biocube enables Visa issuing authority to minimize visa processing time with lessened impersonation fraud. Integration with traveler’s biometric, identity, financial data ensures a 360° profiling & predictive–AI enabled risk scoring & decision support for faster visa approval.

Solutions

Seamless Immigration With Bio-Identity

Enhanced Traveller Experience & Improved Process Efficiency with Minimized Risk To National Security

Illegal immigrants are big concern for nations across the globe. Current immigration process where the immigration officer needs to do manual checking of multiple travel documents/ID and interrogate the Traveller for identity verification - is time taking & forms long queue at immigration desk but is not fully effective. Although secure immigration is key to National security, but traditional process gives poor travel experience.

Biocube’s IP camera based instant bio-authentication & automated Immigration gate opening enables seamless immigration - queue-less smooth travel experience with minimum on-desk officials & no additional infra.

Upon Traveller bio-auth, immigration officer gets Traveller’s 360° profile with integrated ID, Visa, Ticket details on his dashboard + predictive AI based Risk Score. Integration ability with video, financial & other surveillance enables post-immigration tracking of person of interest.

Solutions

Banking & Payments Made Secure

High Security, Assurance & Minimized Fraud with Validated User Identity & Bio-Verified Transactions

Identity fraud based fake accounts lead to financial irregularities & forgery in Taxation. Transaction frauds with unauthorized use of credentials cause financial losses to individuals & institutions. Scale of frauds in financial sector is escalating at an unprecedented rate. It is found that identity frauds contribute the highest (approx. 25-30%) of all frauds in financial domain.

Self-service mobile based user Biometric onboarding & account opening ensures tamperproof KYC & zero risk of fake identity, while making the account opening process smooth & easy for customers. Identity & background verified instant loan improves loan processing efficiency & eliminates risk of bad loan.

Biocube helps getting rid of PIN/Password & ensures curbing transaction frauds across ATM, POS, Peer-to- Peer, online etc. using bio-authentication based secure payments & transactions using mobile device only.

Solutions

Verified Digital Insurance Journey

Bio-Signature Integrated Policy Onboarding & Minimized Frauds in Claims for Insurance Industry

Impersonation in Insurance Policy purchase & availing benefits of policy with fake identity is the critical pain point for insurance domain. At the end of the day, the Cost of fraud is passed on to the genuine customers in form of higher premium – increasing financial burden on them. The scale of Insurance frauds is going up at an alarming rate across the countries.

By using Biocube platform, Insurance companies can verify the Policyholder & Nominee identity during policy onboarding stage. Also, the Bio-ID signature of each verified policyholder ensures that only the right person is using the policy & receiving the policy benefits.

Biocube thus helps in minimizing frauds in insurance & thereby enables Insurance companies to reduce cost of premium for the genuine policyholders. Automated claim submission with bio-authentication helps in hassle-free claim submission, thus providing smoother claim journey.

Solutions

Benefit Transfer Made Fraudproof

Enhanced Benefit Transfer Mechanism (Pension, PDS, Health Benefits) - Zero Pilferage & Enhanced Governance

Tackling the pilferage of govt. fund & ensuring the benefits are reaching to right beneficiary is a critical mission. A significant portion of government revenue & public fund is lost in impersonation fraud in public distribution system. A more transparent mechanism for tamperproof beneficiary registration & authentication is essential – someone, not entitled for the benefit, should not enjoy it.

Single Bio-ID linkage with multiple Govt schemes and direct transfers of subsidy/ benefits with bio-auth ensures that the benefit is transferred to the genuine beneficiary.

Pension holders can avail their pensions with bio-auth on their mobile sitting at the comfort of home – the elderly persons need not to visit bank for life-proof and no chance of fraud exists. National Health Policy linking with BioID, makes the process of treatment appointment booking & availing treatment a lot easier for beneficiaries, while guaranteeing minimum misuse of Govt. Health Benefits.

Solutions

Modernizing Law Enforcement

Digitization of Law & Order mechanism & Police system using tamperproof identification technology

Current surveillance mechanism is inclined towards post- mortem than being precautionary. There is zero or limited mechanism for instant identification of criminals from public crowd. Traffic rules when violated by drivers carrying fake or someone else’s driving license – it is an arduous task for police to validate driver identity.

Biocube offers AI-enabled more efficient surveillance mechanism, real-time identification of suspects with instant biometric matching from crime database. Real- time monitoring of crowd in public places & matching against crime database for any potential threat identification ensures active prevention, rather than post- mortem.

Traffic Law & Order situation can be enhanced by enabling traffic-police to verify driver’s identity & matching with Driving License credentials using their own mobile – thus ensuring genuine drivers are driving on road.

Solutions

Access & Attendance Made Seamless

Contactless Access and Automated Attendance for Enhanced Convenience, Productivity & Security

Fraudulent Identity based Access pose huge security threats to institutions. No spoof-proof solution currently exists without the use of costly specialized hardware.

In this time of COVID, every organization is installing thermal guns or highly expensive thermal cameras to capture body temperature – However, the temperature capturing is done only at the entrance & no effective temperature monitoring mechanism inside the premises.

Biocube’s mobile Biometric Pass enabled contactless access for staffs & visitors, provides selective access control with geo-location/geofencing & timestamp – Zero security threat of unauthorized access & attendance spoofing. Easy integration of Biocube with organizations' existing HRMS platforms help in automated attendance reporting. Our AI algorithm enables regular IR/IP cameras within premises to capture real time body temperature & generate auto-Alert system in case of anomaly detection.

Solutions

Seamless Travel Experience

Convenient & Secure Passenger Journeys at Transit Hubs – No waiting, No manual checking

Time consuming manual verification at each checkpoint & waiting in queues make the traveler's experience poor in Air/Train travel. It thus requires huge fleet of security personnel to execute security measures, resulting in high security budget. Error & risk of tampering in manual check & monitoring does not eliminate the security threat.

Biocube’s Bio-ID enabled Mobile Pass with integrated ticket ensures easy access in transit hub with enhanced security check in minimal time. Seamless & automated bio-authentication at each step of passenger journey – check-in, embarkation, disembarkation – eliminates impersonation risk & provides smooth travel experience.

Bio-recognition based check-in/checkout in train stations/ subways calculate fare & deduct amount automatically from linked wallet of user. Easy integration of IP cameras within premises ensures monitoring of passenger & Body temperature screening on continuous basis.

Solutions

Hospitality – Seamless Guest Journey

Contactless & Paperless Check-In, Checkout & Transactions - Elevated Guest Experience

Traditional check-in/checkout process involves a lot of paperwork like form filling, taking photocopies of ID documents and long waiting time at front-desk – all these lead to Poor Guest Experience.

Also, the authenticity of the paper documents is not verifiable & therefore risk remains for wrong identity based guest entry, which can lead to further serious crimes.

Biocube increases process efficiency & security with tamperproof guest bio-KYC for minimized crime & antisocial activities in Hotels, with minimum paperwork.

We also enable contactless check-In/checkout, keyless entry, payment - delivering superior guest experience. AI enabled Guest profiling & recommendation engine helps hotels to offer personalized services to guests – offering an unmatched stay experience.

Solutions

Tamperproof Student Lifecycle

Verified Student journey, Certificate/Document Verification, Storage, Retrieval with Bio-authentication

Education is an integral part of each of our life. However, as on today, there is no comprehensive model to capture the education lifecycle journey of an individual. There are concerns related to authenticity of one’s academic accomplishments – new ways of getting fake academic certificates are becoming easier. There are frauds related to identity of the candidates appearing in exams, availing benefits/facilities. Also, there are regular concerns like attendance spoofing with fake identity, fraudulent access.

Biocube brings an end-to-end solution for Education sector. Every student is assigned a unique Bio-ID, a digital Bio-signature of any individual. Starting from registration process in entrance exams, to admissions in different colleges/courses, managing attendance, benefit transfers and issuance & storage of transcripts/certificates with students’ bio-signature – which eliminates the risk of Identity + Documentation fraud in Education domain fully. We bring digitization in Education in true sense.

ENGAGEMENT MODELS

Flexible modes of engagement - based on Business requirements