Brazilian anti-fraud platform, CredDefense, now provides another cutting-edge solution for its customers. It offers liveness check by Innovatrics, one of the world’s leading biometric technology companies.
According to CredDefense CEO, José Luis Volpini, the integration of Innovatrics technology highlights the importance of the solution to avoid common fraud schemes in relation to proof of life, such as using an image instead of a real person. “With proof of life technology, we guarantee that the captured photos are of real people – preventing a fraudster from using third party photos, whether printed on paper or images from a cell phone, tablet, or video.”
Volpini emphasizes the robustness and accuracy of Innovatrics technology: “Innovatrics is one of the few in the world to have iBeta and ISO 30107-3A certification. In Brazil, there is still no locally developed proof of life technology with these certifications.”
“There is a very high demand for anti-fraud solutions, and we have to offer the most secure ones to our customers. This proof of life works as a vaccine against fraudsters’ actions, especially with the current growth in online transactions,” he concludes.
According to Trevor Jones of Innovatrics, biometrics technology in Latin America is expected to grow by more than 20% annually by 2027, driven by both government and private spending. This growth is the result of a market that is consolidating itself due to the adoption of new technologies. In this regard, Brazil stands out. “How to build trust in the digital age? Trust between people to enter different countries, to vote, to lend money… That’s what this is about, our solution builds that trust,” he says.
“If there is one thing the world can learn from Latin America, it is how the banking industry has designed biometric safeguards to prevent fraud. Having implemented biometrics from the start has put them many years ahead compared to other countries. And we are part of this movement ,” adds Jones.
CredDefense is a Brazilian platform of anti-fraud solutions, employing facial biometrics and other technologies, with a client portfolio of banks, financial companies, fintechs, retailers, car rental companies, and companies in the logistics industry.