We’re excited to announce that ID-Pal has been shortlisted in two categories at the prestigious FSTech Awards: Most Innovative Product of the Year and RegTech & Compliance Project of the Year.
Judged by a panel of industry experts with extensive knowledge of the financial services sector, the FSTech awards recognise organisations that demonstrate clear evidence of innovation, effectiveness, and measurable impact in their submissions.
Check out the full shortlist here.
ID-Detect: Most Innovative Product of the Year
Our award-winning product feature, ID-Detect, has earned a spot as a finalist for the Most Innovative Product of the Year. This nomination acknowledges ID-Pal’s leadership in advancing security innovation, particularly in addressing the complex and evolving challenges of identity fraud.
Launched earlier this year, ID-Detect is designed to enhance Document Verification processes, tackling sophisticated techniques used by fraudsters. It acts as a powerful additional layer of fraud prevention, ensuring higher accuracy and reliability in identity verification while protecting businesses worldwide.
Tackling Key Fraud Techniques
Research reveals that 90% of document fraud attacks exploit one of three primary methods:
- Screen Recapture: Creating a digital reproduction of an ID document using a device such as a phone, tablet, or computer.
- Photography: Printing a copy of a document from a digital image, captured by a camera or scanner.
- Portrait Substitution: Replacing the facial photo in a genuine ID document with a fraudulent image.
ID-Detect is specifically designed to detect and combat these attack vectors. By confirming the presence of a physical document, it enhances fraud detection rates—achieving up to 99% detection success in certain test cases.
Learn more about the benefits of ID-Detect here.
RegTech & Compliance Project of the Year
In addition to ID-Detect’s recognition, ID-Pal has been shortlisted for the RegTech & Compliance Project of the Year. This nomination reflects our commitment to empowering businesses to meet ever-changing compliance requirements seamlessly.
By combining advanced AI-driven verification technology with a focus on security and user experience, ID-Pal supports organisations in adhering to regulations such as AML and KYC. Our end-to-end solution not only mitigates compliance risks but also ensures efficiency and scalability for businesses of all sizes.
FSTech Awards Ceremony
The nominations in these two categories highlight ID-Pal’s dedication to creating impactful, innovative solutions that address real-world challenges. Whether it’s safeguarding against fraud or streamlining compliance processes, our technology is built to empower businesses to thrive in an increasingly complex regulatory environment.
Stay tuned for updates and if you’d like to attend the FSTech Awards on Thursday 13th March, you can book your table here.
