Real-time KYC & AML Solution for Iraq

Uqudo supports verification of all major Iraqi identity documents, including national ID cards and passports. Driving license support can be provided on request. Our AI-powered technology is specifically trained on Iraq-issued documents to ensure maximum accuracy and security.

Yes, Uqudo is fully aligned with the Central Bank of Iraq’s new regulations for digital banking and payments which came into effect on June 1, 2024. Our platform implements all required security measures, including multi-factor authentication, OCR and NFC verification, biometric verification with liveness checks, and end-to-end eKYC processes as mandated by the regulations.

Uqudo directly supports Iraq’s digital banking transformation by providing:

• Self-registration and digital onboarding technologies
• Online Document verification solutions that eliminate the need for physical visits
• Biometric verification, including facial recognition with liveness detection
• Secure multi-factor authentication
• Integration capabilities with anti-money laundering systems and relevant blacklists

Uqudo’s biometric verification technologies specifically address the Central Bank of Iraq’s regulations for prepaid cards, electronic wallets, and scratch cards by:

• Enforcing user identification through biometric facial recognition
• Implementing robust risk-reduction measures
• Preventing unauthorized access through advanced liveness detection
• Ensuring single-user access for mobile applications
• Maintaining up-to-date customer data files

Uqudo employs a comprehensive verification approach that meets Iraq’s regulatory requirements:

• AI document scanning for authenticity checks
• Document tamper detection to identify fraudulent IDs
• OCR technology that accurately extracts text from Iraqi documents
• NFC chip verification for enhanced security on Iraq’s e-IDs and e-Passports
• Consistency checks across all customer information

Yes, Uqudo’s proprietary OCR technology is specially designed to accurately read and process Arabic text on Iraqi documents. Our system is optimized for the specific fonts and layouts used in Iraq’s official documents, ensuring high accuracy in data extraction.

Uqudo fully satisfies the biometric verification requirements through:

• Real-time facial recognition matches the person to their ID document
• Advanced liveness detection to prevent presentation attacks
• Support for fingerprint scanning integration
• AI-powered image discrepancy detection
• Secure storage and handling of biometric data

Uqudo prioritizes customer data security, privacy, and confidentiality as mandated by Iraqi regulations:

• Implementing end-to-end encryption for all data transfers
• Secure storage of customer information
• Providing comprehensive audit trails for regulatory compliance
• Ensuring proper data retention policies
• Maintaining strict access controls

Uqudo offers flexible deployment options, including:

• SaaS cloud-based solutions
• In-country cloud deployment is available in Iraq to help our clients meet data residency requirements
• On-premise deployment for organisations with specific data residency requirements

Uqudo’s platform integrates comprehensive screening capabilities that help Iraqi financial institutions meet their anti-money laundering obligations:

• Screening against global sanctions lists
• Checking Politically Exposed Persons (PEPs) lists
• Monitoring adverse media
• Continuous monitoring of customer risk profiles
• Seamless integration with central systems and databases

Yes, Uqudo has established a strong commercial presence in Iraq, working with significant players in the money remittance and payment services sectors. Our partnerships with leading Iraqi financial institutions demonstrate our commitment to the market and our deep understanding of local requirements. Uqudo’s on-the-ground expertise enables us to provide tailored solutions that address the unique challenges and opportunities in Iraq’s evolving digital financial ecosystem.