SIX FinTech Ventures is investing in PXL Vision, a spinoff from the Federal Institute of Technology in Zurich (ETH). In acquiring the stake, SIX can strengthen its position in innovative business areas of the financial sector, according to a statement.
PXLVision developed Daego, a solution for digital identity verification based on computer vision and machine learning. With the system, users must scan their identity document via their mobile phone, before filming a short clip of their face. The authenticity of the document and the video are then checked in real-time to verify the user’s identity.
“The acceptance of digitized business models and solutions is crucial for Switzerland as a financial center. PXL Vision AG’s Daego plays a key part in further increasing this acceptance,” commented Andreas Iten, Head of SIX FinTech Ventures.
PXLVision’s solution is already being used in SwissSign for the digital identity SwissID. On Tuesday, it announced that it had won a new customer in Quickline, the fourth largest internet provider in Switzerland.