Revolutionary eKYC Solution: Finacus Teams with pi-labs.ai to Combat Deepfake Fraud

Finacus Solutions and pi-labs.ai have entered a strategic partnership to launch the world’s first deepfake-proof eKYC solution. This collaboration integrates AI-driven deepfake detection technology with Finacus’ existing eKYC framework, enhancing security and reducing operational costs for the financial sector as it battles rising AI-driven deepfake scams.

In a groundbreaking move, Finacus Solutions has partnered with pi-labs.ai to unveil the world's first deepfake-proof eKYC solution, signaling a significant advancement in the fight against AI-driven fraud. This new system integrates state-of-the-art deepfake detection technology into Finacus' existing eKYC framework, fortifying identity verification processes.

This collaboration is timely, given the financial sector's current struggle with a surge in deepfake scams. The Reserve Bank of India has mandated live video for KYC procedures, adding further security measures to counteract the threat. Incorporating pi-labs.ai's technology creates a hybrid system that combines human expertise with AI-driven insights, ensuring top-tier security.

Financial services are keen to avoid reverting to costlier, traditional KYC methods. Last year alone, 63 billion eKYC transactions took place globally, highlighting the need for robust, automated solutions. By integrating AI tools, this partnership aims to safeguard financial institutions from fraudulent activities, maintaining the integrity and reducing the costs of the eKYC process.

(With inputs from agencies.)