Zopa: Single Forged ID Catch Covered Entire Year’s Cost of AU10TIX BOS Service

Share Article

Zopa confirms that an AU10TIX BOS flagged UK passport submitted online is indeed a sophisticated forgery. The perfectly looking forged ID image has been submitted for a sizable lending application and its flagging prevented fraud loss in a magnitude that more than covers an entire year’s worth of the AU10TIX BOS service.

News Image
Zopa confirms that an AU10TIX BOS flagged UK passport submitted online is indeed a sophisticated forgery... submitted for a sizable lending application

Zopa has been using AU10TIX BOS since the second half of 2014, with the intention of strengthening fraud protection for its clients and itself, while streamlining customer onboarding and service. The recent catch is indicative of the increasing quality of forgeries in online submitted ID document images. Manual detection of this particular type of forgery would require considerable attention, experience and time. AU10TIX BOS carries out both forgery detection and content extraction in an average of 5-8 seconds. AU10TIX BOS incorporates next-generation machine-learning enhanced image processing and fraud analytics algorithms that single it out as the leading technology on the market today.

“This is a good example of why we use world class technology to boost customer ID authentication and onboarding”, says Paul Martin, Credit Risk Director of Zopa: “Verifying the identity of Zopa borrowers is a critical element in our loan application process and the Au10tix platform provides an additional layer of confidence. It also achieves this in seconds."

“It feels great to receive another validation to the effectiveness of this standard setting technology”, says Ron Atzmon, Managing Director of AU10TIX: “This is the proof of the pudding, and in real “battle conditions”. What’s even nicer is that this sole case already made the investment worthwhile for our client. And this is only the direct ROI. Add to this fast response time, less back office load and you quickly realize that what might look like better fraud protection is actually also a business booster.”

“First, congratulations on the nice catch. One more fraudster goes empty handed”, says Ofer Friedman, VP Marketing of AU10TIX: “It is very much thanks to a technology that’s different from conventional template-matching based solutions. AU10TIX BOS works differently. This is next generation, machine-learning enhanced technology that is best equipped to deal with the variable levels of quality that characterizes online customer-submitted images. It is also designed to perform better at high volumes and automate 100% the entire process. This is the future of Secure Customer Onboarding“

About Zopa
Zopa is the UK’s largest peer-to-peer lending company - bypassing banks and their high charges to put more back into the pockets of the UK’s lenders and borrowers. Zopa matches smart borrowers looking for lower-rate loans with lenders looking for higher interest. Since Zopa was founded in 2005, it has arranged more than £745 million in peer-to-peer loans and has been voted ‘Most Trusted Personal Loan Provider’ in the Moneywise Customer Service Awards for the past five years and Consumer Moneyfacts best overall customer service in 2014 and 2015.
For more information, visit http://www.zopa.com.

About AU10TIX
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.

Contact:

Zopa
PR Manager
Email: mat.gazeley(at)zopa(dot)com
Tel.: +44 - 2037511743

AU10TIX
Ofer Friedman, VP Marketing
Email: ofer.friedman(at)au10tix(dot)com
Tel.: +357 (22) 007698

ICTS International NV
Alon Raich
Email: mail(at)ictsinternational(dot)com
Tel.: +31-20-716 3421

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Ofer Friedman
AU10TIX
+972 504717150
Email >
Visit website