Advertisement
Advertisement
Advertisement

Car selling website combats fraud with facial recognition

Estimates put online fraud in Britain at about £10 billion annually

Published: December 29, 2018, 9:30 PM
Updated: January 4, 2019, 2:51 AM

Buying a car

Hyundai recently announced that fingerprint technology would be used in security measures for its vehicles, starting with the 2019 Santa Fe, but now a UK auto-sales website is going a step farther with facial recognition.

The "Business Manager"

BuyaCar.co.uk is introducing the advanced technology, combined with artificial intelligence (AI) to protect its customers from online fraud. The technology is already used in some software security measures.

Estimates put online fraud in Britain at about £10 billion (roughly $17.3 Canadian) annually, though BuyaCar has no cases of fraudulent transactions, thanks to an already comprehensive suite of security measures.

Business growth opens up the need to process more transactions, but that also creates the possibility for more fraud, unless the customer experience becomes more complex and by extension slower, which is counter to processing more business.

Car handover at the dealership

“We have focused so much on security against fraud that we are now often invited to advise well-known lenders on the suite of measures we have built,” says Austin Collins, Managing Director of BuyaCar.co.uk. “Our business has quadrupled in the last three years, meaning that the processing of paper-based proof of identity was becoming a real bottleneck. By automating the process, using facial recognition analysis that problem has gone away, while also adding a valuable extra layer of protection from fraudulent applications.

Trials with the state-of-the-art facial recognition and analysis tool has proven favourable in terms of quickly proving identity, processing applications more quickly and providing a positive customer experience.

Acquiring the keys

The software asks customers to access their device camera and submit face images from multiple angles, then compares them to submitted photo ID.