Signzy, Oz Forensics, Chooch, Innov8tif earn industry awards
Signzy, Oz Forensics, Chooch, and Innov8tif have each won recognitions for their applications in biometrics and digital identity.
Signzy wins IFSCA fintech hackathon
New York-based Signzy is announced as one of the winners of the Sprint03:InsureTech Hackathon for its digital ID solutions in life or health products.
Signzy won the prize for development of technologies for increasing penetration, better underwriting, or claims management of life or health products. The company offers digital ID, and biometric onboarding and authentication for the financial services industry and banking.
Signzy will be allowed a direct entry into the applicable International Financial Services Centres Authority (IFSCA) Regulatory or Innovation Sandbox as a reward, and receive further regulatory guidance and handholding. Upon completion of the sandbox, Signzy will have the opportunity to set up business at Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC)
Ankit Ratan, co-founder of Signzy, says, “Winning this global Hackathon has further burnished Signzy’s credentials for world-class innovation in the insuretech and fintech space. Going forward, we are equally excited to participate in the IFSCA Regulatory/Innovation Sandbox, as we look forward to new opportunities to make a meaningful difference to the growth and evolution of the global fintech industry.”
Oz Forensics wins biometrics award at Finnovex Qatar
Facial recognition firm Oz Forensics took the top prize for biometric solutions at Finnovex Qatar.
The biometric company headquartered in Sheridan, Wyoming won the Excellence in Biometric Solution Award presented by Finnovex Qatar, a summit on financial services and fintech. Its face biometric software has passed level 2 liveness detection trials from iBeta and was chosen by Freedom Finance Bank to protect customers from spoofing attacks.
“We are glad to receive this important award, especially in a vibrant context like the Finnovex. It represents our effort to provide our clients with the best and easiest solution to defeat biometric attacks and verify and onboard customers securely and seamlessly,” comments Svetlana Efimova, COO of Oz Forensics.
Chooch wins AI excellence award
Chooch AI was selected as a winner of the Artificial Intelligence Excellence Awards given by the Business Intelligence Group for its computer vision and biometric solution.
The Chooch Enterprise Computer Vision Platform trains cameras and computers to comprehend visual data through AI to predict and understand what is in their sights. Applications include preventing workplace accidents, mask detection and social distancing compliance, safety equipment assurance, preventive maintenance of remote equipment, engaged buyer alerts, defect detection, facial authentication, and image quality control, according to Chooch.
The San Francisco-based company raised $20 million in November 2020 to continue development of edge biometrics and visual AI.
Emrah Gultekin, the CEO and co-founder of Chooch, says about the award, “We’re gratified by this award from the Business Intelligence Group and their first Artificial Intelligence Excellence Awards program. Computer vision is a fundamental part of our digital future. AI technology will be a key technology for future competitive advantages and the Business Intelligence Group recognized how the Chooch AI computer vision platform is delivering significant business value to a wide range of industries, including manufacturing, healthcare, retail, industrial, oil and gas, media, as well as safety and security.”
Innov8tif recognized by Financial Times
A press release says Innov8tif made the list based on its compound annual growth rate (CAGR) of 48 percent since 2017. The High-Growth Companies Asia-Pacific 2022 list ranks Asia-Pacific companies by their CAGR in revenue from 2017 to 2020. Innovt8if is placed 259th.
The company offers eKYC services that utilize computer vision AI to detect microprints on Malaysian identity cards and facial biometrics as an alternative to SMS one-time passwords. Innov8tif claims its eKYC solution gained approximately 100,000 transactions within its first year in 2018 and saw close to 1 million transactions being processed the following year.
Joe Seah, Innov8tif’s CCO, says he believes there is “untapped potential within the B2B space” in Malaysia and the demand for verification services will continue to rise. Seah says the company plans to further its expansion in the ASEAN region with more partnerships.