KUALA LUMPUR, Malaysia, Nov. 10, 2022 /PRNewswire/ -- Incode, the next-generation identity verification platform, today announced the appointment of Spectrum Edge as its first Malaysian reseller through the signing of a Memorandum of Understanding (MOU) to bring one of the world's most powerful identity solutions, Incode Omni, to Malaysia as it continues to rapidly expand across Asia Pacific.
Incode is a Fintech Power 50 company and industry leader in privacy-centric identity verification for global enterprises. The Omni platform is used by the world's largest financial institutions, governments, marketplaces, hotels and hospitals to customize their user experience, at scale while drastically reducing security and fraud risk. With its unique passive liveness technology, word class facial recognition, and advanced deep learning techniques, Incode Omni meets the most stringent compliance and security standards for global brands such as JumeirahTM Hotels, Rappi, and Citi.
Malaysia is a key market for Incode and Spectrum Edge in Asia Pacific as the country's digital economy continues to grow. The Malaysian government's approach to boost the country's economy could rely on fully leveraging digital technologies, to create an annual economic value of MYR 257.2 billion by 2030. Nearly 90 per cent of the Malaysian population is expected to have access to the internet by 2025. In a step towards becoming a digitally driven country, the Malaysian government announced in 2021 that they aim to fully adopt identification technology to improve the IT systems and infrastructure of the national registration department.
Spectrum Edge, a Malaysian owned, locally born and bred company, has more than two decades of experience in the cyber security scene in Malaysia. A company built on trust where customer satisfaction is key; we have established a strong presence in major financial services institutions, telcos, public sectors and large enterprises.
Andre Stewart, Vice President of EMEA & APAC, Incode, said, "For our foray into a large market like Malaysia, it is an easy decision to partner with Spectrum Edge given its extensive technical expertise and track record in deploying cutting-edge disruptive technology to its large customer base in the sectors that Incode focuses on. Together, we recognize the immense potential to make a difference in the way people interact with businesses, and verify their identities in their everyday lives, as well as the need for a privacy-centric approach for companies that seek to offer a seamless digital experience that meets regulatory obligations. With Spectrum Edge's support, we are confident that we will supercharge our growth in Malaysia as we expand aggressively to meet the demand for our offerings across the Asia-Pacific region."
Mohamad Reza Ab Hamid, Managing Director, Spectrum Edge, said, "Our customers are constantly looking to accelerate their business growth by differentiating the customer experience digitally. Their urgency to explore advanced and secure identity verification and management solutions, as we emerge from the pandemic, has further intensified. From financial institutions that are looking to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations while simplifying and speeding up onboarding processes, to airlines planning to upgrade their liveness detection technology, we are excited and convinced that Incode's best-of-breed solutions and disruptive technology are what our customers are looking to implement in their highly competitive sectors."
About Incode Technologies, Inc.
Incode is a leading identity company that is reinventing the way humans verify their identity and interact with the world's largest companies with a highly secure and delightful AI-based experience. Incode's end-to-end fully automated orchestration platform enables seamless access across multiple channels with products focused on onboarding, authentication and payment verification that increase conversion and reduce fraud. With its mission to power a world of trust, Incode works with a number of the world's biggest banks, fintechs, hotels, governments and marketplaces. Incode is based in San Francisco with offices in Europe and Latin America. To learn more about Incode, visit www.incode.com.
About Spectrum Edge Sdn Bhd
Your Trusted Security Adviser. A Value-Added Distributor (VAD) equipping companies with only the best-of-breed cyber security solutions. They provide solutions that safeguards company networks, devices and data, coupled with professional services from our highly qualified and certified technical team.