Mark Nelsen, senior vice president of risk and authentication products, Visa: “Partnering with AU10TIX will provide industry-leading document authentication to prevent fraud as clients assess new account applications.”
NICOSIA, Cyprus (PRWEB) October 19, 2017
Visa has chosen AU10TIX BOS 2nd generation technology as ID authentication and onboarding automation service of record of its "Visa ID Intelligence" platform after extensive evaluation of the ID document authentication solution space. Unlike conventional 1st generation solutions, AU10TIX 2nd generation solution is 100% data-entry and menu free, totally human examination free, and can handle ID documents even without dependence on barcodes. BOS is ca. +300% better in handling borderline quality ID images, and is the only platform capable of forensic-level forgery and counterfeiting detection. Thanks to advanced parallel processing and utilization of machine-learning and deep-learning algorithms AU10TIX BOS performs faster and delivers data-rich actionable outputs.
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“Visa is constantly searching for companies to work with that provide clients innovative technologies for securing accounts,” said Mark Nelsen, senior vice president of risk and authentication products, Visa. “Partnering with AU10TIX will provide industry-leading document authentication to prevent fraud as clients assess new account applications.”
“We welcome Visa to our family as clients and partners," says Ron Atzmon, Managing Director of AU10TIX: “Visa active implementation of the vision of safe and efficient customer onboarding ecosystem is impressive. AU10TIX 2nd generation ID authentication and onboarding initiation technology can have a significant contribution to Visa issuers at both levels: Fraud prevention and KYC compliance on one hand, but also operating efficiency and customer conversion rates on the other. We congratulate our R&D team for winning the confidence of yet another financial services industry big name. We look forward to working closely with the Visa team and contribute to Visa's success and growth.”
"AU10TIX is the only company in this field whose roots are in solutions for airport security and border control," says Ofer Friedman, VP Marketing of AU10TIX: “Behind us are decades of experience in deep authentication and risk detection. But this technology is about better conversion and operating efficiency as much as it is about fraud and risk prevention. Visa, as all of our clients want both and that's how we designed 2nd generation technology."
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