The new AU10TIX algorithm reduces ruling errors and processing abortions due to borderline image qualities that takes a sizable share portion of online and mobile traffic.
Nicosia, Cyprus (PRWEB) May 05, 2016
Online and mobile KYC financial and regulated services are well aware of the significant share of traffic which conventional, 1st generation automation solutions fail to handle. Borderline quality images are prone to false-positive or false-negative rulings, or altogether processing abortion. Without effective technology the burden of identifying, examining and retrieving content from such ID images falls of back office operations. Human processing is notoriously slow, expensive and inconsistent and replacing it with effective technology solutions is already taking place at an accelerated pace. With the new feature in place, AU10TIX BOS, the forerunner of 2nd generation ID authentication and onboarding, further cements its superiority over conventional solutions.
“Back office operations are still here to stay, but they are destined to be much more effective and cost-efficient than ever before”, says Ron Atzmon, Managing Director of AU10TIX: “This achievement cannot be under estimated. Innovative algorithms are being researched and implemented by the AU10TIX R&D team in order to cope with the infinite variability of customer-submitted ID document photos from what they should look like. AU10TIX BOS helps ID fraud detection be a much more streamlined and cost-effective process“.
“The human eye and the human brain tend to rationalize what they see according to what we would expect to see”, says Ofer Friedman, VP Marketing of AU10TIX: “In online and mobile channels this trait often becomes a liability. Especially when handling large volumes of images under time pressure. This enhancement of AU10TIX BOS has been tested with live traffic and proven to reduce the significant volume of 'I'm not sure' cases“.
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