The startup offers a digital customer onboarding platform that enables financial institutions to manage the entire digital identity lifecycle, including identity verification and authentication. This centralized solution addresses the need for compliance with regulatory requirements by providing a streamlined process for identity management.
Funding
$11.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face challenges in providing seamless and secure digital onboarding experiences while adhering to stringent regulatory compliance requirements such as KYC/KYB and AML. Traditional methods often involve complex processes, integration hurdles, and increased risks of fraud, leading to customer dissatisfaction and operational inefficiencies.
Solution
LOQR offers a Journey-as-a-Service (JaaS) platform that enables financial institutions to transform complex processes into streamlined digital journeys, including digital account opening, online access recovery, and customer data updates. The platform provides a unified, customer-centric experience while ensuring compliance with global and local regulations. LOQR's platform incorporates KYC/KYB data capture and validation, identity verification through video biometrics with liveness detection, and e-signature capabilities with options for advanced or qualified certificate signatures. By eliminating integration hurdles and reducing fraud risks, LOQR accelerates digital transformation, improves customer loyalty, and unlocks new revenue streams for financial institutions.
Target Audience
LOQR primarily targets established banks, neobanks, crypto platforms, and credit institutions seeking to enhance their digital offerings and comply with regulatory requirements.
Features
- End-to-end digital journeys for online account opening, access recovery, and customer data updates
- KYC/KYB compliance with AML screening, PEP/RCA/SIP screening, and document checks
- Identity verification through video biometrics, face match, and liveness detection
- e-Signature capabilities including advanced, advanced certificate, and qualified certificate signatures
- Omnichannel experience ensuring seamless transitions between online and offline touchpoints
- Pre-built journeys for rapid deployment and enhanced value proposition
- Real-time certificate issuance for qualified electronic signatures (QES)
- AI-driven facial recognition and liveness detection for secure identity verification
- Secure audit trails and cryptographic protections for signature authenticity