7. Validate user identity to
protect users and prevent fraud
The fraud detection and prevention market is expected to grow to $75
billion USD by 2028 at a 16 percent CAGR
4
in an increasingly digital world
where organizations have to invest billions of dollars to reduce and prevent
fraud. While identity verification can be used to prevent fraud, correctly
identifying user identity in real time is technically complex and
resource-consuming and can add friction to the customer experience.
Verifying identity to combat fraudulent activities makes for a good AI and ML
use case for three primary reasons. First, ready-to-use AI solutions, services,
and ML models enable developers to quickly deploy identity verification
processes. Second, fully managed APIs can help train and implement custom
models with less effort and data. Third, customers can leverage existing
development resources with solutions and services that require no previous
expertise, making AI and ML readily available across the organization at a
lower cost.
Amazon Rekognition Identity Verification offers pretrained facial
recognition and analysis capabilities that organizations can quickly
integrate to authenticate their users' identities. Through a streamlined
verification process and the ability to detect fraudulent and duplicate
accounts in seconds, onboarding legitimate customers becomes simple
without affecting your customer experience. Leveraging automation
and AI with ready-to-use services, your organization can effectively
reduce implementation and operational costs.
Learn more ›
INTER
"Three years ago, we opened 200 accounts a day.
Today there are 29,000 accounts opened daily, and
we would not have the agility to do this without
Amazon Rekognition."
Bruno Picchioni, Squad Lead, Credit Platform
AELLA CREDIT
"Using Amazon Rekognition for identity
verification on our mobile application has reduced
verification errors significantly and given us the
ability to scale. We can now detect and verify
an individual's identity in real time without any
human intervention, thereby allowing faster
access to our products. We tried various well-
advertised solutions, but none of the popular
alternatives could accurately map out various skin
tones. Amazon Rekognition helped us effectively
recognize faces of our customers in our markets. It
also helped us with KYC in discovering overlapping
profiles and duplicate datasets."
Wale Akanbi, CTO & Co-Founder
IDEAL FOR
Finance, Education, Ecommerce, Retail, Gig Economy
4
"Fraud Detection and Prevention Market Size Worth $75,139.66 Million, Globally,
by 2028 at 16% CAGR - Exclusive Report by The," Bloomberg, 2022
10
