NEW YORK--(BUSINESS WIRE)--Deduce, the only patented technology platform designed to prevent AI-generated identity fraud, today announced it was named the winner of the Tech of the Future - Fighting Fraud category at the 2024 Banking Tech Awards USA.
“At Deduce, we aim to equalize access to vital identity data, empowering businesses of all sizes to distinguish genuine customer actions from fraudulent activities with our proprietary Trust Score. This has become even more challenging, given the recent rise of AI-generated fraud, stated Ari Jacoby, founder and CEO of Deduce. “We are grateful that the judging panel has recognized our advancements in fraud prevention. Through our Deduce Identity Network, which processes over 1.5 billion authenticated events daily, our customers can enhance their fraud detection processes, resulting in improved customer experiences and reduced identity fraud.”
Generative AI technology can create fake identities with realistic-looking documents, biometrics, credit histories, and other characteristics that can deceive traditional identity fraud solutions and analysts. Deduce provides the only solution to prevent these “SuperSynthetic” identities from signing up as new accounts and to flag those already embedded among existing customers. Deduce uses the largest activity-backed U.S. fraud and risk identity graph to conduct multi-contextual, real-time data forensics at scale, adding critical context to the decision-making process.
“The Banking Tech Awards USA judging panel has awarded the highest scores to Deduce in the Tech of the Future – Fighting Fraud category,” said Tanya Andreasyan, Editor-in-Chief at FinTech Futures, the global media platform behind the awards. “Deduce stood out because of its ability to help financial institutions solve a critical problem – preventing AI-generated identity fraud. As technology advances and new types of fraud make their way to the forefront, solutions like the one Deduce provides can help organizations stay ahead of the curve.”
For more information about the Banking Tech Awards USA, please visit: https://informaconnect.com/banking-tech-awards-usa/2024-winners/
About Deduce
Deduce detects SuperSynthetic™ customers–AI-generated identities so realistic they fool legacy fraud solutions. Deduce unmasks SuperSynthetic identities using patented technology and the largest purpose-built, activity-backed identity graph. Deduce sees over 185M unique identities more than three times every week across a broad range of authenticated online activities. Generating 1.5B+ authenticated online events per day from over 150,000 websites and apps, the Deduce Identity Graph data drives real-time multicontextual digital forensics to protect new account opening workflows and expose “sleeper” SuperSynthetics already in customer databases.
Recent Deduce awards include the #1 Security spot in Fast Company’s World’s 50 Most Innovative Companies 2022 and the 2022 CISO Choice Award for Fraud Prevention. Learn more about the SuperSynthetic threat and Deduce’s solution at deduce.com.
For more information on Deduce or to set up an interview with CEO Ari Jacoby, please contact Ashley Mann at ashley.mann@deduce.com.
