AU10TIX awarded ‘Company of the Year in Artificial Intelligence in Security’ for preventing over $700 Million in fraud-related losses through cutting-edge Machine Learning and AI Technology

AU10TIX, a leading global provider of fully automated identity verification technology, announced today that The Globee® Awards, organizers of the world’s premier business awards programs and business ranking lists, awarded AU10TIX silver for Company of the Year in Artificial Intelligence in Security in the 2022 Cyber Security Global Excellence Awards®.

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“We are honored by the recognition from Globee Awards as a company of the year, which further validates our commitment to our partners and their security needs,” said Carey O’Connor Kolaja, chief executive officer of AU10TIX. “Digital identity fraud has become very global, very organized and interconnected. For businesses, there is a need for real time identity verification now more than ever and AU10TIX is committed to enabling businesses to provide safer services, promote trust and seamlessly secure everyday access to life, work and play.”

Fighting fraud in the global digital economy has become more complex and more central to enabling a thriving ecosystem since the pandemic. To combat rising synthetic fraud, AU10TIX utilized INSTINCT, its anonymous platform designed to unify the business community. The platform centers around global identity signals that can fight synthetic identity fraud by detecting criminal attempts to create multiple accounts using fraudulent ID credentials that have already penetrated the service provider’s system.

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In just the first eight months of 2021, the AU10TIX INSTINCT platform helped to prevent over $700 million in fraud-related losses. Overall, for 2021, AU10TIX saw an 11-percent increase in identity fraud detection, helping businesses to prevent 4.3 billion dollars in fraud-related losses over the course of the year.

Fueled by the immediate need for businesses to detect fraud by verifying that their customers and users are who they claim to be in a matter of seconds, AU10TIX also increased the number of identities verified by approximately 124-percent in 2021 from the same period in 2020.

These prestigious global awards recognize cyber security and information technology vendors with advanced, ground-breaking products, solutions and services that are helping set the bar higher for others in all areas of security and technologies. More than 55 judges from around the world representing a wide spectrum of industry experts participated in the judging process.

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