Monday April 15,2013 : PUTTING A FACE TO A NAME IN INTERNET GAMBLING
Facebanx debuts a potent new anti-fraud weapon
New technology company Facebanx has developed an innovative online facial recognition technology solution that will enable online gambling operators, banks, payment processors and ID verification companies to dramatically reduce fraud and ID theft, and provide a key weapon in their battle with fraudsters, claims a company spokesman.
Facebanx works by users simply adding their face to their account via the camera on their laptop, mobile phone or tablet. The software then compares the facial image against a database of faces to flag up possible fraud. Each face is recorded via a video stream and the technology compares multiple images taken throughout the recording to confirm that the person is real and not a photo.
Matthew Silverstone, CEO of Facebanx, said Monday: “Our product provides a unique solution for processors to share data to combat multiple acts of fraud. We are currently in discussions with a number of processing companies, banks and merchants about adding our software to their CRM.”
Professor Mark Button, director of the Centre for Counter Fraud Studies, said: "Counter-fraud professionals are always looking for the ‘holy grail' in the fight against identity fraud. Facebanx is an exciting new development and a product which could be one step closer to such a solution."
Facebanx is a division of OhHi Technology, and has developed the software to meet all banking security standards. The company uses cloud based technology to allow multiple users unlimited access worldwide either on a manual or automated basis.