Unico Modernizes KYC for Plata: Delivering Seamless, Secure Biometric Authentication

The Context

Founded in 2022, Plata is an innovative Mexican financial technology platform powered by artificial intelligence. Plata’s core mission is to simplify the financial experience for its users, making it more accessible, convenient, and reliable. The company initially launched a credit card featuring cash rewards and customizable benefits, quickly followed by Plata Difiere, a popular Buy Now, Pay Later (BNPL) solution. By the close of 2023, Plata had rapidly expanded its footprint across Mexico, personally delivering cards to customers in over 50 cities nationwide.

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The Challenge

The rapid adoption and exponential growth in the user base of the Plata Difiere BNPL product created an urgent operational demand: Plata needed to significantly improve the security and efficiency of its customer onboarding process without adding friction for legitimate users.

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• The Threat: The rising risk of biometric fraud and the critical need to protect sensitive customer data while ensuring strict regulatory compliance.
• The Bottleneck: Balancing the need for rigorous KYC (Know Your Customer) checks with the expectation of a fast, seamless onboarding experience for point-of-sale (POS) web-credit products.
• The Goal: To find a scalable, highly accurate biometric authentication solution that could reduce operational costs and build unshakable trust in the Plata brand.

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The Solution

In 2023, Plata partnered with Unico, integrating advanced biometric technologies directly into its KYC system to enhance security and improve overall service usability. Plata implemented two core, cloud-based solutions:

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• Unico Biometry: A highly accurate facial recognition solution used during the identity verification process to confirm the user's identity seamlessly.
• Unico Liveness: A robust anti-spoofing solution designed specifically to detect and prevent sophisticated biometric attacks.

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This integration enabled Plata to conduct its KYC checks entirely online in real-time, with each individual verification taking no more than 10 seconds to complete.

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The Impact

The implementation of Unico's technology directly addressed Plata's business needs, delivering outstanding measurable and qualitative results:

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• Superior Accuracy and Security: Unico provided a high degree of accuracy with a laser focus on preventing biometric fraud. This guaranteed the protection of sensitive customer data and fortified trust in the Plata brand.
• Operational Efficiency: By automating and streamlining the online KYC checks to under 10 seconds, Plata drastically improved the efficiency of customer registration. This efficiency translated into a 20% reduction in operational costs.
• Exceptional User Experience: The frictionless nature of the Unico solutions yielded a staggering 99% biometric check conversion rate, ensuring that legitimate customers were never locked out of the onboarding funnel.

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The Horizon

Plata's rapid growth demanded a solution that could scale effortlessly alongside its business. The innovative, cloud-based architecture of Unico Biometry and Unico Liveness provided the exact scalability required. Plata found a reliable partner in Unico—one that shares its values and delivers exceptional communication and personalized support. Looking ahead, Plata relies on this partnership's potential for long-term cooperation and agile adaptation to changing market conditions, confident in Unico's ability to support its continued expansion across the financial landscape.