The world of finance continues to evolve around the clock. Authentication and identification are two primary points of focus, to reduce fraud. AU10TIX, an Israeli company, released their Advanced Deep-Learning Beta. This particular tool increases accuracy for face comparison related to ID documentation.
When verifying a person’s identity, they will usually send a picture or scan of their national ID. In this day and age, Photoshopping this content is not overly difficult. Various financial services providers now require users to hold up their ID when taking the picture to verify their identity. However, there are still a lot of problems with this process.
Another Big Step Forward By AU10TIX
AU10TIX wants to address all of these issues with their package. Combining Deep Learning algorithms with biometric identification is a very promising concept. The company developed their algorithm – called “Document-to-Selfie” – which conducts facial recognition. Not only is this offering more accurate than other similar tools, but it also processes information a lot quicker.
Moreover, the company has been focusing a lot on mobile and online solutions. Handling face comparison with pictures taken by webcams or mobile phone cameras is not an easy task. Regardless of image quality or time of capture, AU10TIX can complete the face comparison process quickly. A particular focus lies on reducing the image ‘noise”, which speeds up the comparison and recognition process.
AU10TIX VP Marketing Ofer Friedman told the media:
“The life of fraudsters just got harder. In a market where the vast majority of fraud cases are based on genuine stolen data, document authentication and biometrics become simply a must! Now, fraudster have to work even harder: Not only do they have to pass the only ID authentication platform with multi-factor, forensic level authentication, but now they must pass face comparison as well… This is just a tip of the iceberg of what’s coming.”
Verifying one’s identity online relies on much more than just receiving a picture or image scan. Biometric verification is needed to reduce the fraud risks. AU10TIX ventured into the biometrics field to ensure it works better than ever before. Their new algorithm is even capable of comparing live selfies with an ID document picture. That alone will make the process of verifying and establishing one’s identity a very different process from now.
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