Shell (02423) adds a rental service: the face recognition function for online contracts is extended to 77 cities to securely “lock” the contract

The Zhitong Finance App learned that currently the online rental model is popular, and “second landlord” fraud is frequent, such as renting more than one room, signing contracts under false names, and subleasing with forged documents, and the safety of online rental contracts has once again become the focus of the public. In response to this pain point, the Shell (02423) rental business recently signed an online contract with a face recognition function to cover 77 cities across the country, and a “safety lock” was added to the security of rental contracts through technical means.

In traditional offline contracts, both parties to the transaction usually verify their identity face-to-face, while online contracts face the problem of “who actually is on the other side of the phone”. To this end, Shell introduced a “personal operation” verification mechanism during the signing process. When a user signs an online contract using an ID card, the system will automatically check whether the contract name, ID number, and face recognition results match. If face recognition fails multiple times, or if the user uses documents such as a passport or pass, the system will automatically transfer to the “Four Elements of a Bank Card” authentication process to ensure that the contract is completed by the parties themselves. This function is suitable for all scenarios such as signing, modification, cancellation and renewal of the main contract. Although the operation time is increased by about 5 to 15 seconds, it effectively reduces the risk of fraudulent signing and proxy signing.

Shell stressed that face recognition mainly solves the problem of “whether the contractor is the person” and cannot replace other risk control actions such as verification of property ownership, confirmation of rental authorization, and security of rent payments. However, as the person in charge of shell-related products said, “Consumers do not need to be risk control experts; the platform will advance key risks as much as possible through continuous capacity building.”