Nicosia, Cyprus (PRWEB) June 27, 2014
The AU10TIX BOS system user has indicated that the flagged forgeries were re-examined by a forgery forensics expert who confirmed the evidence careful tampering in the flagged ID images. This success in detecting ID image forgeries in second, within a significant traffic of applications is yet another proof of the effectiveness of AU10TIX BOS technology in curbing ID fraud while accelerating customer handling.
AU10TIX BOS is based on a different technology than standard solutions. Standard solutions are primarily based on template-matching which proves very problematic in handling the variable, off-template quality of online customer-submitted ID images. Consequently, standard solutions cannot handle a significant part of the incoming application traffic, and can deliver only basic, inconsistent results – often not fully automatically either. AU10TIX BOS, on the other hand, incorporates advanced machine-learning algorithms that can handle up to 300% more of the traffic, fully automatically, at much higher speed and accuracy. AU10TIX has also recently announced a standard-setting 3-way authentication capability.
“We are proud to see our standard-setting technology proving its value,” says Ron Atzmon, Managing Director of AU10TIX: “This is a different technology than standard solutions. It is repeatedly proving itself in “real life” conditions and it is getting constantly better. There’s no better seal of approval then an industry leader who uses this technology in real life.”
“We are getting ever more attention from regulated markets: From banking to money transfer, from payments to Forex, from financing to gaming – Just to name a few,” says Ofer Friedman, VP Marketing of AU10TIX: “Obviously automating customer ID authentication and processing transforms is a major concern and a bottle-neck, especially in the online marketplace. It is already clear that if you don’t put smart automation into your customer screening and onboarding, you are liable to fall behind. By “fast tracking” customer acquisition while maximizing fraud protection you can increase conversion success rates, increase effective volume handling capacity, and comply with regulations while enhancing operating efficiency.”
AU10TIX Limited, a fully owned subsidiary of ICTS International N.V, deals with the authentication and digitization of identifying documents including Passports, identity cards, driving licenses and other complementary identifying documents. The company specializes in implementing hardware & software based applications used for scanning, identifying, content retrieval, authentication and validation of identifying documents. AU10TIX is a pioneer of all-channel (front-end and online) ID authentication and processing solutions. The company's products drastically reduce identifying document-based fraud, reducing the costs associated with client processing and enabling effective regulatory compliance, while making the sales and support operations speedier and considerably more efficient.
For more information, visit http://www.au10tix.com.
About ICTS International N.V.
ICTS specializes in the development and implementation of innovative security concepts and solutions designed to meet the needs of a variety of industries, mainly aviation transportation, border control and sensitive facilities. ICTS International benefits from over two decades of expertise and international operational experience in transportation security, with a particular emphasis on high-risk environments, passenger processing transactions and the integration of security services to provide a comprehensive security solution. It also offers a wide variety of customized training programs, tailored procedures and a wide range of security consulting services. The company has developed and implemented unique technological solutions, based on its comprehensive approach to security, designed to enhance the level of security while accelerating the security check process.
For more information, visit http://www.icts-int.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company’s business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company’s actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company’s expectations or future events.
Ofer Friedman, VP Marketing
Tel.: +357 (22) 007 698
ICTS International NV
Tel.: +31 (203) 471 077