IDVerse’s FraudHub Remembers Fraudsters’ Faces and Details

IDVerse has launched FraudHub, a solution for businesses that flags repeat fraud attempts by recognizing when the same faces and identity information come up across different transactions. Once such attempts are detected, administrators can add the fraudsters to block lists, helping to ensure that fraud attacks are winnowed down over time.

In announcing FraudHub, IDVerse CTO Matt Adams compared it to Interpol’s “Face Recognition System”, a biometric tool that the international law enforcement organizations uses to help police agencies around the world to track down and arrest serious criminals.

“INTERPOL has IFRS, but FraudHub is possibly the IFRS for the rest of us, empowering businesses large or small with cutting-edge, ethical face recognition security solutions that protect privacy,” Adams said.

IDVerse is pitching FraudHub as a complementary solution to its existing platform, which includes support for face biometrics and document reading to enable selfie-based identity verification. The breadth of IDVerse’s technological offerings is a major reason behind the company’s rebrand last year from its previous moniker, “OCR Labs”, which stemmed from its earlier work in Optical Character Recognition.

Since then, IDVerse has enjoyed growing recognition as a provider of sophisticated AI and biometric tools. OneID looked to IDVerse technology to enhance its digital identity verification platform last summer, and IDVerse was welcomed into the “Mastercard Engage” partner program in the fall, lending its support to Mastercard customers seeking to develop and deploy identity verification solutions at scale.

More recently, IDVerse teamed up with GeoComply, in a partnership focused on combining the latter’s geolocation compliance technology with IDVerse’s selfie-based IDV in the online gaming space.

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March 5, 2024 – by Alex Perala