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Since its launch in 2022, instinctThe company’s fraud intelligence platform, has increased synthetic fraud detections in the financial services sector by more than 60%.
Higher inflation also increases financial activity, increasing opportunities for fraud within the financial sector.
Financial services providers and financial institutions use our solutions to establish the identity and risk of new users, authenticate and continuously verify existing users, and detect suspicious transactions.
The solution seeks to combat large-scale synthetic fraud with a focus on privacy protection.
Synthetic identity fraud, fueled by an increasingly digital and mobile financial environment, is a new fraud technique undetectable to the human eye.
With the financial services ecosystem rapidly evolving, it is more important than ever for businesses to invest in identity verification technology, he said. Man modocCOO of the company.
The rise in cybercrime and digital counterfeiting requires financial services firms to do more to protect the identities and personal data of their customers.
This is a business imperative and we are committed to helping businesses and organizations provide their customers with safe and convenient access to their money and digital assets.
The company has signed 40 new global customers since the beginning of the year. microsoft It improves verifiability and helps protect employee information.
