Tag Archive for: solution

Caller Identification: India’s new in-house solution to curb fraud calls

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The Telecom Regulatory Authority of India (TRAI), the government’s telecom authority, would implement a caller identification system similar to other caller ID applications on the app store within the next three weeks. The new system will employ KYC verification to guarantee that callers’ identities are real and aren’t forged with synthetic identities.

Why KYC verification is the best suited Identity Verification

While TRAI’s new caller identity service would function similarly to other caller ID applications on the app store, the government intends to position it as a competitor to the apps, for which India has the largest market with over 220 million active users.

Other caller ID applications on the app store usually keep a database of callers based on data given by consumers and were plainly targeted. A repository that is KYC-compliant would reduce fraud and proxy calls. According to the chairwoman, the “system would permit name-appearance on a phone screen, in line with KYC performed by telecom providers in compliance with DoT standards.”

Read here to know how KYC Verification works to prevent fraud

Although the system appears to be a failsafe, it is still feasible to obtain a new mobile connection using the identity of someone else — which might be a barrier to maintaining openness under the telecom regulatory body’s planned caller identity verification system.

How KYC Verified Caller ID will help reduce fraud calls

According to the source, the anonymous caller identity technique would also have a ripple effect, causing a clean-up of data on crowdsourcing applications with the aid of KYC. Experts feel that including KYC in the caller identification system will also help reduce spam and fraudulent calls.

Learn about the benefits of KYC and why India needs digital identity verification

KYC Verification Solution from IDcentral

IDcentral’s KYC Solution employs intelligent AI and precisely trained ML algorithms to assist enterprises in providing the most trustworthy digital experience possible using Identity Verification. While conforming to KYC/AML standards, IDcentral’s eKYC verification enables seamless and exceptionally satisfying customer experiences….

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CLOUDASTRUCTURE ANNOUNCES EDGE CAMERA SOLUTION “CVR on Cam”

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MIAMI, Oct. 28, 2022 /PRNewswire/ — Today, Cloudastructure announced a new edge surveillance solution, CVR on Cam. The offering enables customers to opt for proprietary surveillance cameras that can encrypt and transfer their surveillance data to the cloud, directly from the camera. 

Cloudastructure’s CVR on Cam, combined with Cloudastructure’s end-to-end security platform enables customers to capture, analyze, and promptly respond to any threat on their premises, all without interfering with mission critical operations.

The CVR on Cam encrypts and transfers all surveillance data to Cloudastructure’s cloud-based platform, where AI and Machine Learning algorithms go to work: reviewing and indexing all the video. When a customer receives an alert from the platform, they can log in via their computer or mobile, review the footage forensically and the AI/ML analytics to confirm whether there is a threat, and in the event there is, switch to live view of the location and seamlessly “Voice Down” any perpetrator.

The CVR on Cam solution is ideal for companies that want cloud surveillance but have only a few cameras at some locations. These lower density deployments make it difficult to justify an NVR or CVR to support only a few cameras. With the CVR on Cam, no NVR or CVR is needed 

Cloudastructure CEO Rick Bentley commented, “The Security Industry Association [SIA] recently predicted that by 2026, more than 50% of companies will move their surveillance to the edge or to the cloud. Hardware should never be a barrier to that goal. With the CVR on Cam, we enable more companies that desperately need end-to-end cloud-based surveillance to have it.”

About Cloudastructure:
Headquartered in Miami, Florida, with R&D in Silicon Valley, California, Cloudastructure’s 21st century award-winning security platform utilizes a scalable cloud-based architecture that features cloud video surveillance with proprietary, state-of-the-art AI/ML analytics, a seamless remote guarding solution, IoT cybersecurity, and smart parking. The combination enables enterprise businesses to achieve proactive, end-to-end security, and pairs that platform with an attractive value proposition that eschews proprietary…

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Nearly 40% of US Internet Households Report Owning Some Security Solution

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Residential Security Tracker highlights current landscape of residential security market, including new trends and product announcements

DALLAS, Oct. 27, 2022 /PRNewswire/ — Parks Associates’ most recent update of its Residential Security Tracker assesses the residential security market, offering insights on security players’ expansion into the MDU market and the latest trends and industry news. Consumer research featured in the Residential Security Tracker reveals that in Q2 2022, nearly 40% of US internet households reported owning some security solution, such as a home security system, networked cameras, or a video doorbell. Seven percent of US internet households, approximately seven million households, own a network camera or video doorbell but no security system.

Parks Associates: Home Security System Installation
Parks Associates: Home Security System Installation

“Together, these smart home products add to the market for security solutions, as millions of households find a camera solution is ‘safe enough’ for their needs,” said Jennifer Kent, Vice President, Research, Parks Associates. “The current market for residential security solutions is a mix of devices, systems, installation methods, and attached services that offer consumers more choice than ever before.”

In the firm’s July 2022 survey, Parks Associates expanded its definition of home security services to better capture fee-based self-monitoring and video storage services. Thirty-one percent of internet households reported owning a security system, and 18% of US internet households reported subscribing to a professional monitoring service.

“Parks Associates research captures substantially more fee-based self-monitored households than prior survey findings and is in line with our current view of the market,” Kent said. “Installation trends continue to hold where self-installed systems and pro-installed systems account for a similar portion of the market.”

Security solutions have enjoyed high demand, even under the economic uncertainty of the pandemic, but it’s unclear if growth will continue with higher pricing and tighter consumer wallets. After a spike in DIY installation during COVID-19 shutdowns, professional installation rebounded to its current…

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Resistant AI and ComplyAdvantage Launch AI Transaction Monitoring Solution To Combat Fraud and Money Laundering

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Holvi, the digital banking service for small businesses, is among the initial group of customers to implement the AI-driven solution to manage their financial crime risk

LONDON, Oct. 11, 2022 /PRNewswire/ — Resistant AI, the AI and machine learning financial crime prevention specialists, and ComplyAdvantage, the financial industry’s leading source of AI-driven financial crime risk data and detection technology, today announced the general availability of their solution for fighting financial crime across the U.S. and Europe.

New Research: AI for Financial Crime Risk Detection
New Research: AI for Financial Crime Risk Detection

Financial crime is a multi-trillion-dollar problem. According to the United Nations, the estimated amount of money laundered globally in one year is 2 – 5% of global GDP, or 800 billion – 2 trillion US dollars. While the cost of fraud and money laundering to financial organizations and other businesses is significant, the cost and damage to economies and society as a whole is immeasurable.

Adding Resistant AI’s capabilities to ComplyAdvantage’s transaction risk monitoring platform extends anti-money laundering (AML) and anti-fraud protections offered to financial institutions and other businesses by:

  • Enabling them to detect previously unknown patterns of behavior and identify new risks faster.
  • Delivering alert prioritization so organizations can focus on the highest risk areas and make the best use of their investigative resources.

With these capabilities, organizations can transition to a more dynamic approach to financial crime that uncovers novel behavior as it happens.

“Effectiveness and efficacy are key to scaling,” comments Valentina Butera, Head of AML and AFC Operations at Holvi. “Integrating an AI-driven transaction monitoring solution means we can grow our customer base without growing our headcount at the same rate. With Resistant AI and ComplyAdvantage, we can manage our known risks more efficiently while also identifying and adapting to previously unknown risks.”

Martin Rehak, founder and CEO at Resistant AI, commented, “We are delighted that our joint solution is now available to drive game-changing efficiency gains. Alert prioritization, the ability to make systems more…

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