Veriff Recognized in Chartis RiskTech Quadrant
In a significant achievement, Veriff, a renowned identity verification and authentication platform, has been declared a Category Leader by Chartis in its esteemed RiskTech Quadrant for Enterprise Fraud Solutions. Along with this accolade, Veriff also received the Best in Class designation for its capabilities in addressing Application Fraud and Identity Risk in the same RiskTech Quadrant for 2024.
CEO Commentary on Recognition
Kaarel Kotkas, the CEO and founder of Veriff, expressed immense pride in this external recognition. He noted, “We are delighted to have this external recognition in Chartis RiskTech Quadrant for Enterprise Fraud Solutions 2024. As the identity fraud landscape fueled by AI rapidly evolves, we continue to invest in our technological capabilities to combat fraud and offer best-in-class solutions to protect our global customers.” Kotkas’ statement underscores Veriff’s relentless commitment to innovation and quality.
Importance of Identity Verification Tools
According to the insights provided by Chartis, identity verification (IDV) and various other risk management tools are essential throughout the customer lifecycle. These tools can deliver crucial fraud signals at the early stages of customer interaction, acting as a crucial defense mechanism. By verifying user identities, they help combat synthetic ID fraud and ensure compliance with regulatory standards, ultimately protecting businesses and their customers.
The Growing Challenge of Fraudulent Activities
Veriff has observed troubling trends in online fraudulent activities, including a remarkable 20% increase in such incidents last year alone. This surge in fraud has had a significant financial impact, reportedly costing American businesses approximately 9% of their annual revenue. To address these growing concerns, Veriff plans to release its annual Identity Fraud Report 2025 in December. This comprehensive report will delve into the recent fraud trends and empower businesses with the knowledge they need to remain vigilant and proactive against fraudsters.
About Veriff
Veriff distinguishes itself as a preferred partner for identity verification and authentication solutions among some of the most innovative growth-driven organizations globally. Its client base spans several industries, including financial services, cryptocurrency, online marketplaces, gaming, and mobility. Veriff leverages advanced technology that harmonizes AI-powered automation with reinforced learning from human feedback, providing valuable insights and expertise. With its robust offerings, Veriff is the go-to partner for organizations seeking to swiftly and securely verify users worldwide.
Frequently Asked Questions
What recognition did Veriff receive?
Veriff was named a Category Leader in the Chartis RiskTech Quadrant for Enterprise Fraud Solutions.
What does Veriff specialize in?
Veriff specializes in identity verification and authentication, helping businesses combat identity fraud.
How does Veriff help against identity fraud?
Veriff's tools provide verification processes that safeguard against unauthorized access and fraudulent transactions.
When will Veriff's Identity Fraud Report be published?
Veriff’s annual Identity Fraud Report 2025 is set to be released in December.
What industries does Veriff serve?
Veriff serves various sectors, including financial services, gaming, online marketplaces, and more by providing essential identity verification solutions.
