AU10TIX PROTECTS BUSINESSES AGAINST $2 BILLION IN FRAUD SINCE START OF 2022

 

AU10TIX PROTECTS BUSINESSES AGAINST $2 BILLION IN FRAUD SINCE begin OF 2022

Leading machine-controlled identification technology company expands money services presence to form a safer and comprehensive digital economy

NEW YORK and city, Israel, June 27, 2022 /PRNewswire/ -- AU10TIX, a number one international supplier of totally machine-controlled identification technology high-powered by stylish machine learning and computer science (AI), nowadays proclaimed that the corporate has

prevented $2 billion in fraud connected losses to businesses since the beginning of 2022. fueled by the elevated rate of forgery within the money sector—50 p.c higher on the average than the forgery rate—AU10TIX has enlarged its reach to hide some 0.5 (48%) of the whole available market in digital payments.

AU10TIX has helped businesses to forestall over $2 billion in fraud connected losses since the beginning of 2022.




As inflation grows, thus will money activity, resulting in additional opportunities for fraud at intervals the money sector. money service suppliers and establishments ar turning to AU10TIX to with confidence connect with their customers to aboard and re-verify accounts in a very matter of seconds within the post-pandemic reality within which the protection, security, and potency of physical and digital experiences should be tied to ever-more aspects of people's identities.




"At a time of accelerating dishonest activity and shrinking shopper trust, AU10TIX has seen a forty five p.c increase in identity fraud detection, serving to businesses to forestall over $2 billion in connected losses this year," commented Carey Flannery O'Connor Kolaja, CEO, AU10TIX. "We ar committed to doing our half in furthering a safer and comprehensive world and to continue fostering trust between money services, the shoppers that use them, and therefore the technology that powers their secure interactions."

"We ar on the cusp of a brand new era which will be outlined by UN agency controls knowledge," continuing Kolaja. in step with recent analysis from AU10TIX, an amazing majority (77%) of usa citizens place the responsibility of safeguarding info|the knowledge|the data} they share on the business or organization posing for it and quite four in 5 Americans (81%) believe there's a scarcity of transparency in however businesses utilize their personal information. "Lines ar currently convergency towards a transparent termination wherever people can before long demand to exercise full management over their personal knowledge."

Key highlights to notice include:

• Key Partnerships Sealed: within the last twelve months, AU10TIX has signed with eighteen new international partners, that have already diode to terribly vital achievements. In early 2021, AU10TIX joined forces with Microsoft on Microsoft Azure Active Directory (Azure AD) verifiable credentials to assist improve verifiability and secure info for workforces. we've additionally engaged recently with a strategic partner in North America with whom we've developed a holistic identification and risk management resolution for governments and companies.

• Industry Recognition: AU10TIX recently attained AI Breakthrough Award's "Best Use of AI for Authentication" award, lightness however AU10TIX's proprietary technology, not like ancient, semi-manual solutions, verifies identities in a very matter of seconds benefitting businesses and customers globally. Harnessing deep machine learning algorithms and laptop vision, AU10TIX performs identity document verification and authentication in some four to eight seconds. Investment in groundbreaking technology additionally permits AU10TIX to support instant spikes in transactions with no impact on the speed, accuracy, or performance of identification services. Manual identification solutions, on the opposite hand, produce process bottlenecks in client onboarding, cannot inadvisably adapt to promote dynamics and sometimes lack support for localized identity documents, languages, and dynamical rules.

• Existing Products: By transportation along the worldwide community to fight swarm attacks and artificial identity fraud, the quickest growing class of fraud, AU10TIX's triumph INSTINCT platform continues to ascertain success by investing signals from one organization to observe similar patterns across all different organizations on the network, last as well as risk management and mitigation. The platform has inflated artificial fraud detection by over two hundred p.c this year as businesses still think about AU10TIX to safeguard their customers. additionally to INSTINCT, AU10TIX's white-label identification resolution, SECURE.ME, continues to seamlessly integrate with AU10TIX's customers to produce exceptional user expertise so as to optimize conversion rates, supporting multiple layers of identity checks, like identity document, biometric animateness, and proof of address. On prime of that, eIDV continues to produce complete customer/business identification mistreatment 
• international business and government knowledge sources.

In addition to the on top of, AU10TIX continues to move in trade events. Earlier this month Jonathan Wilson, Chief Risk and Compliance Officer, provided his knowledgeable insight at cash 20/20 Europe in Dutch capital on a panel that explored however money establishments will retain digital-first shoppers across their life. At the future Identity Week in London, AU10TIX chief operating officer Carey Flannery O'Connor Kolaja can address however Verifiable Credentials ar dynamical the manner shoppers share their knowledge with organizations—for the higher.


About AU10TIX

AU10TIX, a worldwide identity intelligence leader headquartered in Israel, is on a mission to obliterate fraud and more a safer and comprehensive world. the corporate provides essential, standard thuslutions to verify and link physical and digital identities so businesses and their customers will with confidence connect. Over the past decade, AU10TIX has become the well-liked partner of major international brands for client onboarding and client verification automation – and continues to figure on the sting of what is next for identity's role in society. AU10TIX's proprietary technology provides ends up in but eight seconds, enabling businesses to aboard customers quicker whereas preventing fraud, meeting compliance mandates and, significantly, promoting trust and safety. AU10TIX could be a subsidiary of ICTS International N.V. (OTCQB: ICTSF). For additional info, visit AU10TIX com