BENGALURU, India, May 27, 2022 (GLOBE NEWSWIRE) -- HyperVerge, a global leader in identity verification services, announced today that it ranked 7th globally on the NIST FRVT 1:1 leaderboard and 2nd globally in the Border Images Benchmark of the NIST FRVT 1:1, which is one of the most difficult benchmarks on the leaderboard due to the presence of faces with a wide range of poses and quality in images. In the NIST FRVT 1:N Investigation Track, which is used for fraud detection, HyperVerge is ranked 5th globally. HyperVerge is also ranked 8th in the FRVT 1:N Identification Leaderboard and 6th in the NIST Mugshot benchmark.
NIST, the National Institute of Standards and Technology of the US Department of Commerce, conducts Face Recognition Vendor Test (FRVT), which measures the performance of automated face recognition technologies applied to a wide range of security applications across civil, corporate, and government entities, and this includes the image checks for visas, the deduplication checks on passport photographs, and the checks during customer onboarding in crypto, FinTech apps, and so on.
HyperVerge provides identity verification and fraud check solutions to other businesses, and the high accuracy allows the company's technology to seamlessly verify identities of individuals even under challenging conditions in real-life applications. Such a comprehensive solution drives down costs incurred in manual verification significantly and cuts down on customer onboarding time. In addition to identity verification, HyperVerge's face recognition tech is also being used for face authentication use cases.
According to Vignesh Krishnakumar, Co-founder and CTO, "Accuracy and reliability of face recognition are very important to our clients, and we at HyperVerge are constantly innovating to build better algorithms. Recent rankings on the NIST leaderboard prove the robustness of our systems."
In every geography that HyperVerge operates in, it has ranked better than the competition, such as NTechLabs and Tech5 in Europe, and Paravision in the USA.
About HyperVerge
HyperVerge is a B2B SaaS company providing AI-based identity verification/ KYC solutions for companies in Fintech, BFSI, Crypto, Gaming, Marketplace, Logistics, EdTech across 195+ countries. HyperVerge has verified more than 600 million identities to date, and its AI has been trained on diverse facial variations and ID formats. It provides solutions for identity verification, customer onboarding, face authentication, document verification, reducing customer drop-offs and preventing identity fraud while being KYC/AML compliant.
HyperVerge's face recognition technology is deployed through its partners for use cases in various industries. The company has a strict ethics policy in place where the customer information and privacy is sacrosanct and complies with all local regulations across the globe.
HyperVerge is also only one of three companies in the world to have an iBeta certification for single image passive liveness detection.
Navien Ramesh
navien@hyperverge.co
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