INSTINCT by AU10TIX Named Gold Winner in the 16th Annual 2021 IT World Awards®
Today, AU10TIX announced that The Globee® Awards, organizers of world’s premier business awards programs and business ranking lists, has named INSTINCT by AU10TIX a gold winner in the 16th Annual 2021 IT World Awards®. These prestigious global awards recognize information technology and cyber security vendors with advanced, ground-breaking products, solutions, and services that are helping set the bar higher for others in all areas of technology and cyber security.
About INSTINCT: Our Winning Product
The first-of-its-kind platform uses adaptive analytics and data to detect identity risk based on historical behaviors, emerging patterns and facts. The concept for INSTINCT sprang from the realization that just as fraudsters leverage networks to amplify their attacks, it is time we did the same to strengthen our defenses. Fraudsters knock on companies’ “doors” all day; occasionally, they unlock the door and hide. In these cases, if a fraudster previously slipped by one organization’s fraud rules and then is seen again, INSTINCT will flag the event and alert the organizations on the participating network via a secured dashboard, stopping further fraud with that identity.
In addition to being a proactive service catching fraudsters at the proverbial front door, INSTINCT serves as a collaborative alert system. INSTINCT has made it possible to leverage signals from one organization to detect similar patterns across all other organizations on the network.
What Is the Impact of INSTINCT?
Once subscribed as an AU10TIX customer, an organization can immediately benefit from the platform’s service. Since launch, INSTINCT is significantly increasing synthetic fraud detection rates for AU10TIX customers, in some cases increasing synthetic fraud detection by more than 100% and increasing overall forged document detection (e.g. synthetic, text replacement, photo replacement) on an average of 8%+ depending on factors like business industry and geographic footprint.
As for our expectations moving forward, INSTINCT will be busy. Up to 95% of synthetic fraud currently goes undetected by regular fraud models (according to the Federal Reserve), as these actors behave, act and look like regular customers that neither the human eye nor highly complex computer vision methods can see. By bringing together the global business community to fight synthetic identity fraud, we anticipate that companies using INSTINCT will experience the benefits of capturing 100% more synthetic fraud attempts.
“We are proud to be recognized as an industry player whose been named the gold winner by the Globee Awards”, says AU10TIX CEO Carey O’Connor Kolaja. “Behind this distinguished success is our product innovations and relentless drive to stay customer focused. We believe this recognition from Globee Awards further validates our commitment to our customers and their security needs.”
More than 65 judges from around the world representing a wide spectrum of industry experts participated in the judging process. The IT World Awards are open to all Information Technology and Cyber Security organizations from all over the world and their end-users of products and services. See the complete list of 2021 winners here.
“The information technology industry continues to show its resilience,” said San Madan, co-President of Globee Awards. “The tech sector is robust and innovative. And the pandemic has changed the way people live, work, shop, and socialize thereby accelerating demand for newer technologies and innovations everywhere.”
About the Globee Awards
Globee Awards are conferred in eleven programs and competition: the CEO World Awards®, the Consumer World Awards®, The Customer Sales & Service World Awards®, the Globee® International Best in Business Awards, the Golden Bridge Awards®, the Cyber Security Global Excellence Awards® and Security World Awards, the IT World Awards®, One Planet® American Best in Business Awards, the Globee® Employer Excellence Awards®, the Globee® Corporate Communications & Marketing World Awards, and the Women World Awards®. Honoring organizations of all types and sizes and the people behind their success, the Globee Awards recognize outstanding achievements and performances in businesses worldwide. Learn more about the Globee Awards at https://globeeawards.com
AU10TIX, an identity management company headquartered in Israel, is on a mission to obliterate fraud and further a more secure and inclusive world. The company provides critical, modular solutions to verify and link physical and digital identities so businesses and their customers can confidently connect. Over the past decade, AU10TIX has become the preferred partner of major global brands for customer onboarding and customer verification automation—and continues to work on the edge of what’s next for identity’s role in society. AU10TIX’s proprietary technology provides results in less than 8 seconds, enabling businesses to onboard customers faster while preventing fraud, meeting compliance mandates and, importantly, promoting trust and safety. AU10TIX’s most recent investment is $80M from TPG and Oak HC/FT to fuel growth and innovation. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF).