London, UK; 8th November 2024- Facia, a pioneer in AI-based biometric technology, was named Project of the Year winner at the Global FinTech Awards 2024, awarding its excellent work at the internationally acclaimed FinTech LIVE London Global Summit. This award honors the company’s novel project and its project as it promotes facets that strengthen security and improve the customer experience within the fintech sector by using pioneering biometric solutions.
Its award-winning project introduces AI-powered liveness-detection algorithms to counter sophisticated fraud tactics, including deepfake and 3D mask attacks. This novel solution enables instant identity verification in one-second results with industry-leading accuracy without a false acceptance rate (FAR) at 0% and less than a 1% false rejection rate (FRR). With a NIST certification and iBeta level 2 compliance, it would be the market’s fastest and most secure liveness verification system, creating new benchmarks for fraud prevention and user satisfaction.
“This win proves that Facia strives for innovation in the fintech industry,” said a spokesperson for Facia. “Our product enhances security and makes onboarding easier for customers, a critical factor in fintech industry growth.“
The Achievement Milestone in Fintech Security and Customer Experience
Facia’s GDPR-compliant platform continues authentication and safe data sharing across fintech benefits compliance and sales teams by identifying over 100,000 spoof attempts in 10 million verifications. Facia reduced significant fraud for their customers, improved customer retention, and improved operational efficiency.
Global FinTech Awards 2024
This year, the Global FinTech Awards debuted at FinTech LIVE London, honoring 14 themes of excellence in fintech, insurtech, digital banking, and fraud prevention. Glen White, CEO and owner of FinTech Magazine, BizClik, said:
“At a time when digital inclusion is crucial for economic growth and social equity, we are proud to recognize innovators like Facia who drive the industry forward.” The Project of the Year Award
The project of the year for fintech and insurtech projects is designed to explain the project and demonstrate transformative innovation, effective collaboration, and measurable impact. Facia was needed just because of its contribution to the advancement of the industry, ensuring alignment with regulatory requirements and, in terms of user experience, positioning it as a model for other future solutions in fintech security.
As the fintech ecosystem changes, Facia’s success marks a step further in developing trust and resilience across financial ecosystems built. It thus confirms how Facia will facilitate an immensely secure, user-friendly, and resistant to fraud future for fintech industries worldwide.
For media inquiries:
Company: Facia
Contact: +44 7828 611 651
Email: info@facia.ai
Website: https://facia.ai/
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