Facia, a prominent name in the field of deepfake detection and facial biometrics solutions, has been awarded the Project of the Year at the inaugural Global Fintech Awards 2024. This prestigious recognition was conferred at a ceremony held last month in London, England, and organised by Fintech Magazine. The awards aimed to honour exceptional achievements within the sectors of digital banking, payments, and sustainability, with a total of 51 nominees vying for honours across 12 categories.
Facia emerged victorious for its robust solutions designed to counter fraudulent activities that often plague the fintech industry, such as identity theft and account duplication using spoof technologies like deepfakes. These fraudulent activities result in substantial financial losses for many fintech enterprises annually. Advanced capabilities in facial biometrics and liveness detection have been identified as leading protective measures against these threats, thereby safeguarding both financial and reputational interests of companies.
In a statement regarding the award, Mujadad Naeem, CEO of Facia, remarked, "This recognition reflects our commitment to advancing the field of cybersecurity through powerful facial biometrics-based solutions. We will continue to strive for even bigger milestones, and help companies to ensure security in an ever-evolving digital threat landscape." His comments underscore the company's dedication to innovation and security in a domain increasingly challenged by sophisticated digital threats.
The event not only celebrated Facia's achievements but also included other nominees in the Project of the Year category, with one company earning a 'Highly Commended' distinction and two additional firms being 'Shortlisted'.
The Global Fintech Awards were designed to bring together key leaders from the finance and fintech industries, providing a platform for celebrating groundbreaking advancements and milestones in these rapidly evolving sectors. Fintech Magazine, the organising publication, is recognised for its comprehensive coverage of developments in financial technology, banking, digital payments, and cryptocurrency, offering insights into industry trends and profiles of influential figures.
Facia's award highlights its position as a leading provider of deepfake prevention and detection services, which are now available in over 190 countries. The company's range of services includes advanced 3D liveness detection, age estimation, and iris recognition. These innovations are aimed at ensuring enhanced security and legal compliance for businesses navigating the complex landscape of digital transactions and interactions.
Source: Noah Wire Services