UK peer-to-peer lender Zopa will use AU10TIX, a fully owned subsidiary of ICTS International N.V., to protect its lenders against fraud, verifying borrowers by checking government-issued identifications.
By using the BOS SaaS service, which includes 100% automation, 3-way authentication, quick response time and easy deployment, Zopa expects to make customer clearing and onboarding more efficient, while increasing protection against fraud. Multi-layer authentication, meanwhile, will meet increasing KYC regulations for fighting fraud.
AU10TIX's online BOS platform, which uses machine learning and multi-layer fraud detection, provides a fast and integrated process which beats traditional solutions in reaction speed and the ability to handle sub-optimal images. This makes onboarding quick and easy for Zopa, increasing conversions and capacity.
"We are glad to have a world standard technology such as the AU10TIX BOS platform serving our customers," says Paul Martin, Credit Risk Director at Zopa. "Our success has been built to a large extent on our commitment to make lending simple and quick, but yet responsible and secure. Using the same system as international passport control means that AU10TIX BOS stands out in terms of performance, speed, security, depth of authentication with the ability to handle large volumes of the applications traffic."
"The vote of confidence by Zopa means a lot to us," says AU10TIX Managing Director Ron Atzmon. "In many ways, AU10TIX and Zopa share similar understanding of the online customer, similar values and a similar commitment to stay ahead of the game using best of breed technology."
"Something is happening in the market," says Ofer Friedman, VP Marketing of AU10TIX. "The demand for robust customer authentication and onboarding technology is booming. But with it also the understanding that you cannot use traditional solutions in the online environment effectively. AU10TIX was early to identify the changing rules of the game introduce the technology that handles online ID authentication and processing more effectively, more quickly and more easy to implement. You don’t have to take my word for it. Simply ask our clients."