#USA #Teaneck #Veratad Technologies #VeratadAI℠ #AI Data Extraction

Veratad Technologies Unveils Revolutionary VeratadAI℠

On November 26, 2024, Veratad Technologies, a leading entity in identity verification solutions, announced the debut of its new platform, VeratadAI℠. This innovative technology aims to redefine how identity verification is conducted, boasting sophisticated AI-powered services that facilitate data extraction and bolster fraud detection.

Innovative Features of VeratadAI℠

VeratadAI℠ comprises two main services: VeratadAI+Extract℠ and VeratadAI+Protect℠. These offerings are designed to integrate seamlessly with renowned document verification vendors through Veratad's VX orchestration platform, streamlining the verification process for businesses.

VeratadAI+Extract℠: A Leap Forward in Data Extraction

Transforming data extraction capabilities, VeratadAI+Extract℠ utilizes Large Language Models (LLMs) to replace outdated Optical Character Recognition (OCR) methods. This advanced system is capable of interpreting and extracting information from identification documents with an accuracy previously unattainable. Unlike traditional methods, which often lack contextual understanding, this solution mimics human comprehension, thereby enhancing reliability and precision in data-handling.

John E. Ahrens, CEO of Veratad Technologies, emphasized the significance of this innovation, stating, “VeratadAI+Extract is a transformative leap in data extraction.” The platform not only enhances the accuracy of the data captured but also ensures it meets compliance requirements by retaining vital information for detailed analytics.

VeratadAI+Protect℠: Securing Against Fraud

In response to the rise of fraud in account creation, VeratadAI+Protect℠ plays a crucial role in safeguarding verification processes. This service employs advanced AI techniques to meticulously analyze identity documents and facial characteristics, effectively identifying and preventing fraudulent activities such as duplicate accounts.

Thomas Canfarotta, Vice President of Product at Veratad, highlighted the importance of this solution in current market conditions. He noted, “With the rise of account creation fraud and promotion abuse, VeratadAI+Protect is essential.” By minimizing fraudulent account setups, VeratadAI+Protect not only protects businesses but also optimizes operational costs associated with unnecessary verification tasks, ensuring a smooth experience for legitimate customers.

A Commitment to Innovation

VeratadAI℠ reflects Veratad Technologies' unwavering dedication to innovation within the identity verification landscape. By merging cutting-edge AI technology with leading verification frameworks, Veratad empowers businesses to tackle the complexities of identity verification with confidence and accuracy.

For additional insights into VeratadAI, including its Extract and Protect services, you can visit www.Veratad.com. With such innovations, Veratad Technologies continues to set new benchmarks in the realm of online identity verification, compliance, and fraud prevention.

About Veratad Technologies

Veratad Technologies, LLC specializes in providing robust online identity verification, age verification, compliance, and fraud prevention services. The integration with top verification vendors via the Veratad VX orchestration platform allows businesses to deliver secure services, protecting customers while adhering to regulatory demands.