BANDAR SUNWAY – WISE AI was accepted into the National Technology and Innovation Sandbox (NTIS) by the Ministry of Science, Technology and Innovation (MOSTI) for its proprietary biometric multi-factor authentication (MFA) technology, also known as Liveness Detection.
The company is receiving funding from NTIS, on top of technology validation, market validation as well as regulatory support, detailed by the Malaysian Technology Development Corporation (MTDC).
The acceptance of Liveness Detection is timely as identity fraud scams saw a drastic increase during the pandemic. Most of the time, scam victims were not aware their identities were stolen. However, upon deeper thought and reflection, they were able to identify the exact moment they interacted with the scammer, either via email, phone or text.
According to Javelin Strategy & Research’s study, 2021 Identity Fraud Study, total combined fraud losses climbed to US$56 billion in 2020, and identity fraud scams accounted for US$43 billion of that cost. Traditional identity fraud losses totaled $13 billion.
Statistics surrounding hacks and breaches from Verizon Data Breach Investigations Report 2021:
WISE AI’s Liveness Detection employs “Passive Liveness” to verify users remotely, a more advanced method of detecting presentation attacks, as they do not require the user to carry out any actions in order to allow the algorithm to calculate their liveness score.
Passive liveness uses vision recognition deep learning techniques to tell a real face from an image or digital screen. The training set contains many different spoof vectors: printed photographs, printed masks, 3D masks and screenshots from a mobile or PC screen. Evidence shows that Passive Liveness saw an increase to first-time user completion rate from 63% (using Active Liveness) to 99%.
“This is a game changer in user experience and AI technology as users are not required to perform any actions, it’s better and faster, and this AI deep learning technology is adaptable to any type of spoofing, as compared to other outdated models, where users are requested to blink their eyes or turn their head around,” says WISE AI co-founder David Lim.
WISE AI is on track to become the first technology company in Southeast Asia in 2022 to own global biometric authentication certifications, specifically ISO30107, FIDO Certification and National Institute of Standards and Technology (NIST) certified from the US. These certifications validate the company’s technology solutions on a global platform. The company is also expanding its product and services to other countries in the region.
If you would like to learn more about WISE AI’s Liveness Detection technology, book your free trial today.
About WISE AI
WISE AI is an award-winning Artificial Intelligence company specialising in digital identity technologies. We develop world-class emerging deep tech that is adopted by the government and multiple industries. Our AI-powered solutions include EKYC, digital ID, digital signature, and blockchain. Our technology is optimised for the recognition of ASEAN faces.