Face, behavioral biometrics well represented on AIFinTech100
Biometrics providers are prominent on the 2021 AIFinTech100, with Jumio’s use of artificial intelligence in its ID document and selfie biometric checks earning it a spot on market research firm FinTech Global’s annual list.
A panel of fintech experts and analysts reviewed over 1,000 companies to compose the list, based on the innovative use of technology to solve a significant problem, improve efficiency or reduce costs within the industry.
“AI is built into the core of what we do,” comments Labhesh Patel, Jumio CTO and chief scientist. “Being included in the AIFinTech100 list validates our efforts to provide secure, AI-powered solutions for financial services providers to safely onboard customers, confirm user identity and stop fraud in its tracks.”
The adoption rate for AI in fraud detection, personal finance, customer communications and insurance, among other areas, has been boosted by the pandemic, FinTech Global says in its announcement of the list.
Biometrics are increasingly popular among fintechs for remote customer onboarding compliant with KYC and AML regulations.