Outcome
Type I & II
SOC Compliance
01
Overview
- Nexrage Studios has developed a cutting-edge KYC solution
- integrating AI models with biometric verification to revolutionize fraud prevention strategies
02
Challenge
- Financial institutions lose billions annually to fraud, with existing solutions only detecting fraud after it occurs.
- The challenge was to create a system that prevents fraud before transactions are completed while maintaining a frictionless user experience.
03
Solution
- Key Features & Solutions include: Pre-Transaction Fraud Prevention with patented technology that associates biometric data with payment accounts
- requiring biometric confirmation for every transaction
04
Build
- The deployment of VULT Security's solution leverages Microsoft Azure to ensure high availability and scalability.
- VULT Security can dynamically adjust resources to meet demand without manual intervention
05
Technical
- The platform is designed with accessibility in mind
- ensuring that users from various demographic backgrounds can easily interact with the system without facing technological barriers
06
Results
- VULT Security has committed to the highest standards of compliance and security.
- The platform has undergone rigorous SOC 1 and SOC 2 Type I and Type II audits, conducted by independent auditors.
07
Next
- VULT Security's innovative approach not only sets a new benchmark in the security industry but also provides clients with a robust tool to enhance their fraud prevention strategies.
- Their technology empowers businesses to safeguard their operations and build trust with their customers
Figures
- SOC Compliance
- Type I & II
- SDK Options
- No Code/Low Code
- Patents
- Granted
- Interchange Savings
- Card-Present Rates
Stack
Python, Machine Learning, Biometric Authentication, AI Document Verification, DMV Database Integration, OFAC Screening, Microsoft Azure, No Code/Low Code SDKs
Enterprise Platform/January 10, 2025