#ComputationalPower

[thxnews]

Veriff Strengthens IT Infrastructure with Amazon Web Services to Combat Identity Fraud

  SEATTLE — Veriff, the global leader in identity verification, has announced a partnership with Amazon Web Services (AWS) to reinforce its IT infrastructure. The move comes in response to the rising threat of sophisticated fraud attacks and aims to ensure secure and efficient digital services for individuals worldwide.  

Veriff's New Report

Veriff's recently released 2023 Identity Fraud Report revealed a staggering 17.9% increase in fraudulent attacks in 2022. Bad actors and fraudsters are employing emerging technologies, such as generative AI, to steal identities, launder money, and gain unauthorized access to customer accounts. Staying ahead of these threats demands that Veriff trains and deploys its identity verification technology models faster, all while maintaining the highest security standards. To achieve this, Veriff is expanding its utilization of the AWS platform. Leveraging Amazon EC2 instances with NVIDIA GPUs, Veriff gains the necessary computational power to build and enhance its solutions. Presently, Veriff's technology can validate over 11,000 government-issued IDs from more than 230 countries and territories, supporting 48 languages.  

The Place for Trust in Business

In today's digital economy, trust plays a crucial role. Businesses across sectors, from fintech and financial services to gaming operators and marketplace platforms, must swiftly and accurately verify their customers' asserted identities without compromising user experience. Veriff's market-leading solutions empower organizations to verify user identities and estimate their ages in seconds, streamlining the enrollment process, mitigating fraud, ensuring regulatory compliance, and maintaining trust. This collaboration with AWS allows Veriff to expedite the development of new identity verification solutions for sectors such as financial services, mobility, gaming, and more. Ultimately, more individuals will gain secure access to essential services, whether it's sharing a ride, renting a scooter, or applying for a loan. Veriff's machine learning models offer consumers greater choice while promoting social inclusion.  

Staying Ahead of Treats

Jaanus Kivistik, Veriff's CTO, expressed confidence in the company's role as the identity verification partner for major global brands. He stressed the need to stay ahead of evolving digital threats that endanger the smooth operation of the digital economy and online communities. Kivistik emphasized the partnership with AWS as instrumental in helping businesses navigate these challenges, ensuring a safer internet and enabling people to access the services they need securely. Marielle Lindgren, Director AWS EMEA North, underscored AWS's commitment to security and its pride in supporting Veriff's role as a cornerstone of the global digital economy. AWS's suite of advanced products and services provides an opportunity to leverage emerging technologies on a larger scale, resulting in enhanced security benefits for businesses and their customers.  

About Amazon Web Services

Amazon Web Services has been the world's most comprehensive and widely adopted cloud service since 2006. With over 200 fully featured services across various domains, including compute, storage, databases, analytics, machine learning, and IoT, AWS powers infrastructure for millions of customers globally. Trusted by startups, enterprises, and government agencies, AWS offers agility, cost-efficiency, and scalability.  

About Amazon

Amazon prides itself on customer obsession, passion for invention, operational excellence, and long-term thinking. As Earth's Most Customer-Centric Company, Best Employer, and Safest Place to Work, Amazon continues to pioneer advancements such as customer reviews, Prime, Alexa, and the Climate Pledge.  

About Veriff

Veriff is a leading identity verification partner for the world's largest digital companies, including fintech, crypto, gaming, and mobility pioneers. With advanced technology and deep insights, Veriff enables rapid and effortless verification of online users from anywhere globally. Their extensive coverage of government-issued IDs from over 230 countries and territories, coupled with an intelligent decision engine analyzing thousands of technological and behavioral variables, establishes trust from the very first interaction. With over 500 employees representing 60 nationalities and offices in the United States, United Kingdom, Spain, and Estonia, Veriff is dedicated to creating a safer and more secure world. Backed by notable investors such as Accel, Alkeon, IVP, Tiger Capital, and Y Combinator, Veriff remains committed to helping businesses and individuals build trust in the digital landscape.   Sources: THX News & Amazon. Read the full article

[cryptoknowmics]

Cryptocurrencies are often propagated as fool-proof financial tools that are decentralized, and in absence of any central point of control, it's extremely difficult to hack. Even though the crypto market is emerging as an ultimate solution for people to make things convenient and fast, there are a lot of challenges associated with the security of the blockchain network. Read full news here