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New Facial Recognition Technology Launched by FACEBANX PDF Print E-mail
Monday, 15 April 2013

New technology company Facebanx has developed a new online facial recognition technology solution that will enable banks, payment processors and ID verification companies to dramatically reduce fraud and ID theft, and provide a key weapon in their battle with fraudsters.

Matthew Silverstone, CEO of Facebanx, said: “Our product has been specifically designed for the online payments industry and provides a unique solution for processors to share data to combat multiple acts of fraud.  We are currently in discussions with a number of processing companies, banks and merchants as well as the insurance industry about adding our software to their CRM.”

Professor Mark Button, Director of Centre for Counter Fraud Studies, said: "Counter fraud professionals are always looking for the 'holy grail' in the fight against identity fraud.  Facebanx is an exciting new development and a product which could be one step closer to such a solution."

ID theft, cybercrime, fraud and chargebacks are on the increase and are huge issues for the banking and the online payments industries as fraudsters employ ever more sophisticated techniques to swindle processors out of their money.  Facebanx provides an effective solution offering reassurance to customers in the knowledge that their ID will not be used fraudulently.  Facebanx will assists CRMs, payment processing and ID verification in order to combat ID fraud, money laundering and help restrict access to age-related purchases and gambling.

(Souce - Facebanx Press Release)  

 

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