AU10TIX is identity management platform is the “broadest” and “most automated” in the market, according to global investment firm William Blair’s recent report, “True Identity Management: Transforming ID Verification with Biometrics and AI.” The report analyzes the identity management industry at a pivotal time for many business operations, as leaders across industries from fintech to education, human resources, micromobility, hospitality and healthcare consider the post-pandemic reality in which the safety, security and efficiency of physical and digital experiences must be tied to ever-more aspects of people’s identities.
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“We’re honored to have our world-class identity intelligence solutions recognized by William Blair,” said Ron Atzmon, deputy active chairman at AU10TIX. “We’ve spent the past decade building and expanding an ultrafast, autonomous-by-design platform to verify identities worldwide. Our computer vision and machine-learning systems support thousands of document types and all languages, so businesses and their customers can confidently connect anywhere, anytime. We’re constantly working on what’s next for identity’s role in society with a focus on resilience, safety and reliability at scale.”
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The report mentions that according to a 2019 Gallup poll, Americans are now more concerned about cyber-crime than they are about violent crimes, with 71% of consumers worried about information hacking and 67% worried about identity theft. New solutions need to provide safe and secure identification processes while also making the customer experience as frictionless as possible. William Blair’s position is that novel deep-learning verification technologies will be ushered in due to a need for more efficient customer experiences and that workflows can be streamlined through identity verification providers who have incorporated these technologies. The firm predicts: “Given a recent study showing 9 out of every 10 people ages 18 to 34 will take an action [e.g. tell friends, stop purchasing, post negative reviews] after having a bad online customer experience, we believe it is more pivotal than ever to prioritize efficiency in the customer authentication experience.”
In 2020, AU10TIX announced news with innovative brands including Uber and Prime Trust; promoted Carey O’Connor Kolaja—one of FinTech Magazine’s Top 10 Women in FinTech—to CEO; and launched INSTINCT, a first-of-its-kind collaborative solution to fight synthetic fraud, which in its first months has shown a 100% increase in ability to detect synthetic fraud.
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