Biometric trust solution provider, Innovatrics has launched a facial biometric verification platform with the AI capabilities to combat the rising occurrence of on-boarding fraud across banking, travel and healthcare sectors.
With on-boarding systems increasing the efficiency of data collection, more applications are deployed to allow enterprises, government and sectors to reek the benefits of having advanced data records.
The biometric capabilities of the DOT Trust Platform allow customers to check their enrolment on a database or watchlist and the end-user can verify their legitimacy and movements during the on-boarding process in order detect a potential fraud.
The solution is built upon Innovatrics assurance and experience with developing biometric technologies, having undertaken numerous large-scale biometric projects such as developing the Automated Biometric Identification System (ABIS). The platform is also integrated with identity management software as well as biometrics.
The company’s announcement calculated that the DOT Trust Platform could help organisations cut digital on-boarding fraud and costs by 90%, providing a seamless on-boarding process. Its AI memory to search a database of millions of faces in milliseconds proves its accuracy.
Innovatrics recently demonstrated its solutions and promoted its newest biometric offering at Identity Week Europe in June as a Gold Sponsor. Their success in biometrics has widely been recognised, as it was also announced by Innovatrics that its iris recognition technology was ranked most accurate in 2021’s Biometric Rally, organised by the US Department of Homeland Security.
The on-boarding process is highly important to ensuring positive consumer experiences hence why this solution should allow enterprises to retain high customer acquisition while ensuring duplicates do not clutter systems or collect illegitimate identities. It acts as a vital control point and should be the gateway to a successful relationship with the consumer who can have control over verifying their identity.