Manila, Philippines – 23 January 2019 – Leading one-stop e-government solutions provider MyEG Philippines (MyEG) partners with Hong Kong-based Finda International Consultancy & Management (Finda) for a unique real-time mobile cross-border authentication services to the Philippines.
In response to the growing fintech market, the Philippine government’s Department of Finance continues its commitment to cutting the red tape and improving the ease of doing business in the country. It has successfully linked up with the Association of Southeast Asian Nations (ASEAN) member countries with the ASEAN Single Window System (ASW). This initiative targets to ease the electronic exchange of cross-border trading documents among the 10 member-states.
Finda Director Chen Yingjie stated, “The Philippines is a strategic market for our company because we see the increasing need and demand for e-solutions amidst discussions on digital security in the country.” Director Chen added that this will also cater to the growing requirement of international financial regulators.
MyEG Philippines President Ron Aquino said, “We are excited to bring this one-of-a-kind technology solution in the country. This is a remarkable step in ensuring the digital security of the Filipinos. You can expect MyEG to continue its commitment to provide seamless e-solutions for the efficiency of government agencies.”
As a champion of government services online automation, MyEG teams up with Finda, a recognized innovator in information technology security, to provide efficient and economical border access and control, and to broaden applications to cross border financial transactions.
Technical standard for digital authentication
Finda owns a Live-Facial-Recognition (LFR) system that serves as a technical backbone for real-ID authentication solutions for various government agencies, financial institutions, and health insurance firms in Asia.
Finda’s technology was granted a proof-of-concept (POC) by the Monetary Authority in Singapore (MAS) and the POC was completed satisfactorily according to the stipulated criteria. The technology is also helping other government agencies in performing Know-Your-Customer (KYC) compliances. Finda’s solutions have also minimized the risk of defaulting claims from government healthcare plans and commercial insurance companies in China.
Over the majority of kiosk providers recognize Finda as the technical standard for Real-ID digital authentication that is based on hundreds of millions of transactions.
MyEG Philippines is an online one-stop-shop provider of e-government automation solutions and payment services for an efficient transaction for Filipinos.
About Finda
FINDA INTERNATIONAL CONSULTANCY & MANAGEMENT LIMITED (“FINDA”) is a company registered in Hong Kong specializing in providing digital Know-Your-Customer (“KYC”) authentication systems and with access to “golden data sources” and registered with its proprietorship. The authentication service is currently adopted by companies of the finance, insurance and banking industries in Asia.
About MyEG Philippines Inc.
MYEG PHILIPPINES, INC. is a partnership of two technology companies, both championing government services online automation. It envisions providing eGovernment services through its technology platform encompassing internet, automation, big data, and electronic payments.
MyEG Services Bhd (MyEG) is a publicly-listed company in the Kuala Lumpur Stock Exchange (KLSE) and is the pioneer in eGovernment services in Malaysia. Since inception in the year 2000, MyEG has successfully implemented and rolled-out online services for key Government Agencies in Malaysia. MyEG has been recognized by Forbes Magazine as one of the best under a billion company in Asia for three years and awarded one of the Best Managed Companies by FinanceAsia and AsiaMoney.
MYEG PHILIPPINES, INC. aims to focus on providing the Philippine Government Agencies and Local Government Units “e-solutions” to streamline their processes. These initiatives are focused but not limited to; electronic payment and collection system facilities, development of web system services, and system integration to existing systems and facilities that specific institution have in place.