Incognia has launched Incognia ID, a solution that merges device intelligence with location behavior for better fraud prevention. CEO André Ferraz emphasizes the need for evolution in detection methods, considering how sophisticated fraudsters have become. The product promises exceptional accuracy and impressive ROI for users, aiming to reach half a billion globally.
Incognia has just rolled out a product called Incognia ID that looks to modernize the way we think about fraud prevention. By combining traditional device intelligence and behavior analysis based on location, it’s aiming to tackle the increasing sophistication of fraudsters. The company argues that traditional device fingerprinting just isn’t cutting it anymore, as fraudsters adapt and learn to navigate across several devices, often resetting them to avoid detection.
André Ferraz, CEO at Incognia, expressed a strong sentiment about the shift needed in fraud detection methods: “The era of device fingerprinting is over. Fraudsters are more sophisticated and detection needs to evolve.” He points out that companies like Grubhub and Delivery Hero, which are among Incognia’s clients, need reliable solutions that are flexible and efficient. This innovation, he insists, represents a milestone in the fight against fraud, drawing a parallel to how DNA has evolved from traditional fingerprinting methods in forensics.
The technology at the core of Incognia ID merges device fingerprinting with precise location intelligence to create a flexible risk signal that’s a bit more holistic. It’s been getting a fair amount of investment, and the company aims to reach about half a billion users globally. That’s no small feat, especially considering the competitive landscape of identity verification and fraud prevention.
In terms of performance, Incognia claims that its ID product outshines some leading facial recognition systems by a whopping 17 times. This means platforms can identify users with much more accuracy across various devices and accounts, providing a robust defense against identity fraud. It utilizes background device location analysis to keep things secure and identifies clusters of devices that may signal fraudulent activity, like repeated resets or device farms.
Incognia’s release highlights a staggering identification accuracy rate of 99.999999 percent, alongside a significant average return on investment of 6X for its clients. This effectively positions the company as a formidable player in the identity verification realm, promising a more secure digital landscape than what has been available thus far.
In summary, Incognia ID marks an important shift in fraud prevention, moving beyond outdated device fingerprinting methods. With its innovative technology that integrates device intelligence and location behavior, it claims a far superior performance in identifying users across multiple devices. The ambitious goal of reaching half a billion users, combined with impressive accuracy rates and significant ROI, suggests that Incognia is setting a new standard in the industry.
Original Source: www.biometricupdate.com
