ID-Pal has been shortlisted in two categories at the Payments Awards: Payments Compliance Technology of the Year and Security Innovation of the Year. Now in its twelfth year, the Payments Awards celebrate excellence and innovation in the payments industry. Organised by FStech and Retail Systems, these awards recognise companies leading the way in payments technology, compliance, security, and user experience.
Judged by a panel of industry experts with extensive knowledge across the payments sector, the application process requires each entry to demonstrate clear evidence of innovation, effectiveness, and measurable impact. Therefore, it’s truly humbling to be acknowledged by the judges and to be shortlisted alongside such outstanding companies.
Check out the full shortlist here.
Leading the Charge in Payments Compliance Technology
Being shortlisted for Payments Compliance Technology of the Year reflects ID-Pal’s commitment to driving the payments industry forward. Many payments companies and financial services providers struggle with keeping up to date with the ever-evolving sophistication of fraudsters, as well as when scaling their operations due to existing legacies, traditional manual AML and KYC processes or complex digital transformation initiatives.
ID-Pal distinguishes itself from other market vendors by being 100% AI-powered to deliver real-time verification results combined with an unwavering commitment to data security – ID-Pal has zero access to customer data. Its configurability, coupled with strict adherence to AML and KYC regulations and unrivalled data security standards, makes it the dependable choice for payments companies aiming for robust compliance and accuracy in customer onboarding.
Pioneering Security Innovation in Payments
The nomination for Security Innovation of the Year highlights ID-Pal’s leadership in combating identity fraud, with a particular focus on our latest product enhancement, ID-Detect. Launched earlier this year, ID-Detect addresses the growing sophistication of ID document fraud, protecting payments companies globally from fraud by adding an additional powerful layer to existing Document Verification processes.
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.
Looking Ahead
The category winners will be announced during the Payments Awards ceremony on November 14th in London) and stay tuned for updates.
Please visit the Payments Awards website for more information.
