The IDHunt platform provided by 4iQ aggregates identity information from public websites, social media and the dark web, and the company claims to posses 45 billion records with more than a trillion total attributes to help companies prevent fraud, money laundering, terrorism financing, insider threats, cybercrime and identity theft. The round was led by ForgePoint Capital, with participation from Benhamou Global Ventures, C5 Capital, and Adara Ventures, and brings 4iQ to more than $63 million raised in total. Identity intelligence company 4iQ has raised $30 million in a Series C funding round to invest in go-to-market efforts and appointed former Waterline Data boss Kailash Ambwani to its Chief Executive role, VentureBeat reports.

The launch of INSTINCT earlier this year, with its data correlation capabilities, provides safe, anonymous fraud information from each participant in the network to all others, which AU10TIX says both keeps businesses safer and yields ways to reduce friction in the user experience.Ĭompanies using AU10TIX’ 2020 integration of advanced neural networks and other engineering innovations are experiencing gains like a 30 percent increase in effectiveness over previous identity verification techniques, 8 percent more business automation, decreasing operating costs, and an 85 percent increase in the ability to differentiate non-IDs from IDs, the company says.ĪU10TIX also claims its customers are finding an improvement of 400 times in detecting low-quality images which are still sufficient to carry out the identity-proofing process.ĤiQ raises $30M to bring fraud intelligence solution to market The rise in synthetic identity fraud makes forgery detection particularly important, and AU10TIX claims to have made major progress by building and training bespoke neural networks for a variety of sophisticated techniques. ID fraud techniques such as text and images copied and pasted with methods undetectable to the human eye and legacy algorithms can now be detected by the company, it says in the announcement. Machine-learning capabilities are now embedded in the company’s core backend and frontend, as well as ID processing and ID capturing, AU10TIX says. AU10TIX has focussed on increasing and improving the quality of data it takes into its systems with neural networks. These improvements come in part from better readability for more automation and stronger fraud detection. Combining its identity document verification and biometrics with neural networks to detect fraud indictors like photo and text replacement forgeries is resulting in dramatic results for AU10TIX customers, the company says in an announcement.

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