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AKcess Brings Its Blockchain-Based Digital ID Solution To Kuwait

Designed to make both paper and online forms obsolete, AKcess uses nothing but a smartphone app to collect and validate KYC data.

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akcess brings its blockchain-based digital id solution to kuwait

Companies in the financial sector, as well as governments and enterprises, spend a lot of time, effort, and money verifying the identities of their customers. That’s because the so-called Know Your Customer (KYC) process often relies on outdated technology and inefficient manual processes. AKcess would like to revolutionize the KYC process using its secure digital ID solution for private and commercial use.

The solution takes advantage of blockchain technology (the same technology that powers and secures cryptocurrencies such as Bitcoin), using it to immutably store collected user data.

Designed to make both paper and online forms obsolete, AKcess uses nothing but a smartphone app to collect and validate KYC data. The submitted information can then be verified in a number of different ways, such as by taking a selfie or using a third-party verifier. When a user approaches an institution that collects KYC information, he or she can simply share it via AKcess, making onboarding effortless.

“KYC is a major challenge for all financially regulated and unregulated companies, but the bigger challenge is to update the KYC after initial onboarding of a client,” said Nehme AbouZeid, Founding member and Chief Technology Officer of Akcess, in an interview with Entrepreneur Magazine. “Using a combination of our mobile app and our blockchain network, we were able to find a solution acceptable to all parties, the regulator and the institutions.”

Also Read: New Digital ID Verification Solution Available To Turkish Fintech Apps

The blockchain-based digital ID solution could be a boon to banks, small and medium enterprises (SMEs), government organizations, educational institutions, healthcare providers, insurance companies, and more. In other words, its impact could be significant.

AKcess has recently opened offices in Kuwait, and the company also has projects underway in several other countries in the Middle East including Egypt, UAE, and Qatar.

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Truecaller To Use Microsoft Azure AI Speech For Call Answering

The new service features a powerful speech generation tool to allow users to create AI versions of their voices.

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truecaller to use microsoft azure ai speech for call answering
Truecaller

Truecaller, a well-known app for identifying and blocking spam calls, is enhancing its services by allowing users to create AI versions of their voices. The new feature, available to those with access to Truecaller’s AI Assistant, stems from a partnership with Microsoft and its Azure AI Speech tool, allowing the generation of realistic AI voices that accurately mimic users’ speech patterns and tone.

“This groundbreaking capability not only adds a touch of familiarity and comfort for the users but also showcases the power of AI in transforming the way we interact with our digital assistants,” explained Truecaller product director and general manager Raphael Mimoun in a recent blog post.

The AI Assistant in Truecaller screens incoming calls, informing recipients of a caller’s purpose. Based on this information, users can decide whether to answer the call themselves or let the AI Assistant handle it.

When the feature was introduced in 2022, users could only choose from a collection of preset voices. The ability to record one’s own voice represents a significant step towards the complete personalization of the service.

Also Read: Getting Started With Google Gemini: A Beginner’s Guide

Azure AI Speech, showcased during the last Build conference, only recently added a personal voice feature that lets people record and replicate voices. Microsoft explained in a blog post, however, that Personal Voice is available on a limited basis and only for specific use cases like voice assistants.

To maintain ethical standards, Microsoft’s Azure AI Speech automatically adds watermarks to AI-generated voices. Additionally, a code of conduct requires companies to obtain full consent from individuals being recorded and prohibits impersonation.

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