CypherFace provides an AI-driven facial biometric authentication system that enables financial institutions to prevent identity and payment fraud during transactions. Additionally, it offers an alternative payment rail that reduces processing fees by 40% and payment fraud by 60% for small and medium businesses.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions and businesses face increasing challenges in preventing identity and payment fraud during online transactions. Traditional authentication methods are often vulnerable to phishing, spoofing, and other fraudulent activities, leading to financial losses and reputational damage. High processing fees associated with existing payment rails further erode profitability for small and medium-sized businesses.
Solution
CypherFace offers an AI-powered facial biometric authentication system designed to mitigate identity and payment fraud. The platform provides an alternative payment rail that leverages ACH to reduce processing fees. CypherFace's technology authenticates users by verifying their identity with liveness detection and anti-spoofing measures. Businesses can integrate CypherFace's APIs into their existing infrastructure or use the mobile app for payments.
Target Audience
CypherFace targets financial institutions seeking to enhance security and prevent fraud, as well as small and medium-sized businesses looking to reduce payment processing fees and fraud risk.
Features
- AI-driven facial biometric authentication for user verification
- Liveness detection and anti-spoofing technology to prevent fraudulent activities
- Alternative payment rail using ACH to reduce processing fees
- Real-time balance checks for secure transactions
- Integration options via APIs or mobile application
- PCI compliant payment gateway
- Generative AI for enhanced security