Icts International Nv Stock Price, News & Analysis

AU10TIX has successfully prevented $3.3B in fraud losses for businesses in 2022, driven by the rising need for identity verification in the financial sector. The company's AI-powered platform, INSTINCT, has improved synthetic fraud detection by over 60%. With 40 new global customers onboarded this year and a partnership with Microsoft to enhance secure information verifiability, AU10TIX is positioned to meet the growing demands of financial services. The firm will showcase its innovations at Money20/20 USA from October 23 to 26 in Las Vegas.

AU10TIX has enhanced its INSTINCT platform, an innovative AI fraud intelligence solution, to combat advanced fraud schemes such as deepfakes and swarm attacks. This upgrade enables seamless integration with existing identity verification systems and improves risk management. Since 2022, AU10TIX has prevented $2 billion in fraud losses, with INSTINCT showing a 200% increase in synthetic fraud detection. The US accounted for 35% of all fraud identified. The platform's efficacy stems from global data collaboration, providing both automated and manual fraud detection methods.

ONE ZERO Digital Bank has partnered with AU10TIX to enhance its customer verification and KYC processes, receiving approval from the Bank of Israel. The technology enables biometric identity verification, essential for onboarding and re-verifying customers. This partnership aims to combat identity fraud, including synthetic fraud, and has been implemented by major companies like PayPal and Google. ONE ZERO Digital Bank has begun onboarding its first 75,000 customers, with a focus on secure, automated identity verification, leveraging AI for better customer service.

A recent study by Wakefield Research reveals that 86% of Americans believe businesses collect excessive personal data, while 81% feel they have little control over it. Over half of consumers (51%) worry about data breaches, with 44% having experienced personal data theft. A noticeable shift is occurring towards prioritizing data security over convenience, with 67% willing to sacrifice convenience for safety. Furthermore, 81% of respondents feel businesses lack transparency regarding data usage, indicating a demand for better data protection practices.

Genesis Global has partnered with AU10TIX to enhance its KYC (Know Your Customer) and customer onboarding processes. AU10TIX's AI-driven platform provides automated identity verification and fraud detection, allowing Genesis to improve user safety across its casino products. This partnership aims to meet regulatory requirements while ensuring fast identity checks, which is critical as digital experiences increase and cybercrime risks grow. AU10TIX's technology can verify identities in under 8 seconds, significantly speeding up customer onboarding.

AU10TIX has been awarded the 2021 Global Product Leadership Award by Frost & Sullivan for its advanced identity verification and document authentication technology. This solution enhances customer onboarding and re-verification, leveraging AI to optimize the customer experience. Notably, identity verification is achieved in just 8 seconds and onboarding in 90 seconds. The modular portfolio includes features for compliance and fraud prevention. Additionally, AU10TIX showcases agility, launching new solutions like INSTINCT and SECURE.ME during the COVID-19 pandemic, aimed at combating synthetic identity fraud.

AU10TIX, a leader in automated identity verification, has announced a partnership with Microsoft to implement Microsoft Azure Active Directory verifiable credentials, now in public preview. This integration leverages AU10TIX's advanced identity verification technology, delivering results in under 8 seconds without storing personal data. It aims to enhance identity management for businesses, allowing users to better control their shared information. The collaboration seeks to create a safer digital ecosystem amid rising digital security threats.

Fondeadora, a leading challenger bank in Mexico, has partnered with AU10TIX to enhance its customer onboarding and due diligence processes through automated identity verification. This collaboration aims to improve safety and accessibility for millions of Mexicans transitioning to digital banking, particularly vital as the fintech sector grows amid increasing cash usage. Fondeadora's use of AU10TIX's technology enables identity verification results in under 10 seconds, supporting the bank's mission to streamline access to financial services.

AU10TIX has launched SECURE.ME, a white label identity verification solution designed to streamline customer onboarding with minimal integration needs. This innovation addresses increasing fraud, which has led to $42 billion in losses for companies over the past 24 months. By 2022, it is projected that 80% of organizations will adopt document-centric proofing. SECURE.ME enables identity verification in under 8 seconds, enhancing speed and conversion rates. The product is customizable and multilingual, focusing on user experience and real-time feedback.