We are delighted to announce that ID-Pal’s newest AI document fraud detection feature, ID-Detect has been awarded ‘Security Innovation of the Year’ at the Payments Awards 2024!
This win comes on the back of the successful launch of ID-Detect earlier this year, in January 2024. Designed to tackle the most sophisticated fraud techniques, ID-Detect strengthens protections for businesses and their customers while ensuring compliance with the latest regulations. Seamlessly integrating into our multi-layered verification process, it provides a powerful layer of defence to existing Document Verification workflows, delivering robust fraud detection without disrupting the user experience.
Advancing Security in a Changing Landscape
As digital threats grow increasingly sophisticated, the need for robust identity verification solutions has never been greater. ID-Pal’s recognition in this category reflects our dedication to providing AI-driven tools that proactively safeguard businesses.
ID-Detect is a cornerstone of these efforts, addressing rising fraud threats across the payments, banking and financial sectors. By leveraging advanced technology, it identifies and deters tactics such as document tampering, screen recapture, and synthetic identities, ensuring organisations can operate securely and with confidence.
ID-Detect Combats Document Fraud Attacks
Research has shown that Screen Recapture, Photography and Portrait Substitution are present in 90% of all attempted document fraud attacks.
Here is a breakdown of what each one is:
- Screen Recapture: A digital reproduction of an identity document made using a device such as a mobile, table, computer, or monitor.
- Photocopy: A reproduction of a document printed from a digital image taken by a camera, copier or scanner.
- Portrait Substitution: A fraudulent facial photo overlaid onto the portrait of a person in a genuine ID document.
With ID-Detect enabled, you can experience enhanced document verification and accuracy rates on each submission, with testing in one attack vector showing an ability to detect up to 99% of fraudulent documents*. Thus, confirming with greater confidence that a physical document is present, not a reproduction.
Learn more about the benefits of ID-Detect here.
Real-World Success
One powerful example of ID-Detect in action is its deployment by Finset, a leading car financing platform. By integrating ID-Detect, Finset successfully blocked fraud to the value of £700,000. This achievement demonstrates how our technology identifies AI-generated documents and ensures the presence of legitimate physical IDs, protecting businesses from significant financial losses.
This win wouldn’t have been possible without the dedication of the ID-Pal team and the trust of our clients and partners. Every feature in ID-Detect is the result of collaborative innovation and a shared commitment to pushing the boundaries of identity verification. As fraud tactics evolve, we remain committed to delivering proactive, cutting-edge solutions that empower businesses to stay ahead of the curve. Thank you to the Payments Awards for this honour and to our clients for inspiring us to reach new heights in identity verification innovation.
Learn more about ID-Pal and our award-winning identity verification solutions here.
