Identifid offers a plug-and-play fraud prevention solution that utilizes AI-enabled biometric face recognition to link individuals to their transactions, effectively reducing fraudulent activities at the point of sale. By eliminating the need to store sensitive transactional and biometric data, Identifid ensures privacy protection while enhancing security for businesses across various sectors.
Funding
$1.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses face increasing fraud risks across various sectors, leading to financial losses, reputational damage, and erosion of consumer trust. Traditional fraud prevention methods often rely on storing sensitive transactional and biometric data, creating vulnerabilities to data breaches and privacy concerns.
Solution
Identifid offers a plug-and-play fraud prevention solution that utilizes AI-powered biometric face recognition to link individuals to their transactions, mitigating fraudulent activities at the point of sale. The system analyzes facial features to verify the individual conducting the transaction, enhancing security without storing sensitive personal or transactional data. By eliminating the need for centralized data storage, Identifid ensures privacy protection while providing businesses with a proactive tool to identify and prevent fraudulent behavior. The solution integrates seamlessly with existing systems, upgrading security and identity authentication processes.
Target Audience
Identifid targets organizations across financial services (remittance, check cashing, wire transfers), financial institutions (KYC, account opening, loan applications), and retail (account takeover, chargebacks, rental fraud) seeking to reduce fraud, prevent losses, and enhance security and privacy.
Features
- AI-enabled face recognition technology for biometric authentication
- Real-time linking of individuals to transactions
- Plug-and-play setup with AI-enabled face recognition cameras
- No storage of transactional data, biometric data, or fraudulent reports
- Integration with existing systems for enhanced security
- Proactive flagging of potentially fraudulent behavior
- Compatibility across financial services, healthcare, retail, and government sectors