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Fraud Prevention System Was Launched In Banks
November 25, 2016 00:11


The system of fraud prevention on the basis of biometric verification and identification of individuals allowed the Russian banks to save more than four billion rubles in 2015. It was developed by a resident of a cluster of Information Technology Fund "Skolkovo", company VisionLabs. This was reported to "" by the press service of the Fund.

FPS.Bio fraud prevention system has been established and put into commercial operation three years ago. During this period nearly 70 million biometric portraits of customers by 30 million individuals was gathered in the system, representing 40 per cent of the active population. The savings of banks is calculated as the sum of loans not issued, when applying for which there have been identified fraudulent schemes, for example, the use of stolen or forged documents.

Currently, the heart of the system is a neural network, created by VisionLabs Company with the support of BCI "Equifax" using the latest image processing techniques that allow a minor error. The product proposed to the market is capable for a few seconds to generate a biometric portrait of the client, to compare it with millions of similar portraits and to provide the financial institution with the necessary information for making credit decisions.


Author: Anna Dorozhkina


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