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AU10TIX Reports Record Demand in The Cryptocurrency (Bitcoin) Market for 2nd Generation ID Authentication & Onboarding Automation

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Cryptocurrency (digital currency, Bitcoin) exchanges are signing for AU10TIX 2nd generation ID authentication and onboarding automation at an unprecedented rate in order to capitalize on mushrooming market demand while optimizing operating efficiency and regulatory compliance. AU10TIX has increased cloud capacity to meet the surge in volume while maintaining fastest processing speed to date.

AU10TIX sees demand for customer ID authentication and onboarding automation coming at a daily rate. Demand spans across the entire range of players from the Cryptocurrency majors, through SMEs and up to startups. According AU10TIX analysis the demand for effective onboarding and KYC automation is fueled by mushrooming consumer demand in response to the ongoing growth in Bitcoin value. AU10TIX analysts point out that cryptocurrency companies are putting onboarding automation at top priority. They are doing so not just in order to gain a competitive edge thanks to ease of onboarding and rapid response but also in order to maximize operating efficiency and enable robuster KYC compliance. These are enabled by 2nd generation technology that offers 100% human-free onboarding, forensic level forgery and counterfeiting detection and up to 300% higher conversion rates of borderline cases.

AU10TIX is lucky to have the only operational 2nd generation technology in such a bull market”, says Ron Atzmon, Managing Director of AU10TIX: But besides the obvious business benefits this monumental growth in demand brings, one cannot underestimate the acknowledgement that regulations need to be complied with and customer journey needs to be simple and welcoming”œ.

“Make no mistake, 2nd generation ID authentication and onboarding automation is not a luxury but a must”, says Ofer Friedman, VP Marketing of AU10TIX: “Yes, Cryptos obviously need to mitigate fraud risks and comply with KYC regulations. But Yes, players with even minimal milage in the financial services market know that you better do that is an efficient and cost-effective way. It is now apparent that proper automation can determine no less that survival and profitability. AU10TIX is now benefitting from pioneering 2nd generation technology where automation is fullest and fraud protection is deepest. We also benefit from being able to offer all critical elements of customer onboarding in KYC-regulated markets augmenting ID authentication with biometric face matching, data services and more”.

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About AU10TIX

AU10TIX Limited, a fully owned subsidiary of ICTS International N.V, deals with the authentication and digitization of identifying documents including Passports, identity cards, driving licenses and other complementary identifying documents. The company specializes in implementing hardware & software based applications used for scanning, identifying, content retrieval, authentication and validation of identifying documents. AU10TIX is a pioneer of all-channel (front-end and online) ID authentication and processing solutions. The company’s products drastically reduce identifying document-based fraud, reducing the costs associated with client processing and enabling effective regulatory compliance, while making the sales and support operations speedier and considerably more efficient.

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company’s business strategy and future plans of operations.ֲ  Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release.ֲ  These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company’s actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements.ֲ  The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company’s expectations or future events.


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