One of the leading companies in the automation trends in the recognition of identification documents, AU10TIX has been implementing deep learning algorithms to achieve better results, American Security Today reports. The company has delivered a solution to one of the key problems in automating ID verification process, also known to brokerages as KYC (know-your-customer).
According to the company, the algorithm deployed by AU10TIX accurately and quickly identifies any discrepancies between a client’s ID document and a selfie picture which he/she can make via a smartphone and upload.
The smart things about the new algorithm is its ability to compare a live selfie with an ID document picture
Creative Approaches to Marketing in the Post-ESMA EraGo to article >>
The solution is making the KYC process for companies even more secure than before, with the use of stolen documents being limited to expert make up artists.
Jokes aside, the company is an expert in its field, starting as an airport border control security contractor. With the online environment being a more challenging one and with KYC fraud being identified as an issue, the company has developed a solution that should greatly reduce fraud in this area.
Commenting on the matter to American Security Today, the Managing Director of AU10TIX, Ron Atzmon, states: “Biometrics is becoming standard and AU10TIX is there to make both work better than before. Face comparison is not a new thing. It’s here for a long time now. But what works when a customer is in front of you doesn’t necessarily work in a Customer-Not-Present situation.”
“The smart things about the new algorithm is its ability to compare a live selfie with an ID document picture. These two pictures have been taken in different times and different conditions and are obtained from different sources,” he explained.
The company is committed to furthering its research and development in this space as it continues to be one of the key players in automated KYC.