New machine-learning enhanced AU10TIX BOS algorithm proved in bulk testing the ability to speed up auto-classification, authentication and content extraction from US and UK driver licenses by 25%-50%.
Nicosia, Cyprus (PRWEB) January 30, 2015
The new AU10TIX BOS algorithm has been designed to the specifications of high volume online and mobile Secure Customer Onboarding. The new authentication algorithm incorporates advanced machine-learning technology that is more “time efficient” in identifying and analyzing customer produced ID images than previous generations. This capability is particularly important for the mushrooming eCommerce and mCommerce markets, especially in KYC/CDD regulated verticals such as financial services, Forex, gaming, legal and more.
“Speed in the online market is a must and not a luxury”, says Ron Atzmon, Managing Director of AU10TIX: “Virtually any regulated market is racing to capitalize on the huge potential on online and mobile, and all realize pretty quickly that this is another ball game than in physical customer interfaces. It’s already clear that slow reaction time and data entry hassle are major caused of customer abandonment. That is why we put so much emphasis on speeding up customer ID authentication and onboarding, while enhancing our authentication capabilities”
“50% faster hands-free customer ID authentication and record generation is a big thing”, says Ofer Friedman, VP Marketing of AU10TIX: “When needing to process hundreds of customers and up, that’s when you feel the difference very well. That means potentially doubling your customer acquisition capacity and increasing conversion success chances, all while having the capacity to meet KYC/CDD regulations more effectively and cost-effectively. In other words, were giving online and mobile service providers the ability push away bottlenecks and build their business more safely and cost-effectively. This is a compelling proposition“
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) 007698
ICTS International NV
Tel.: +31-20-716 3421