Cashfree Payments, renowned for its digital payments and API banking solutions, unveiled its new Secure ID platform at the Global Fintech Fest in Mumbai. Secure ID is an advanced solution designed for identity verification, risk assessment, and fraud prevention.With over 100 crore verifications completed and INR 50 crore in fraud prevented for businesses, Cashfree Payments highlights its commitment to secure and efficient transaction processes.
Akash Sinha, CEO and Co-Founder of Cashfree Payments, highlighted Secure ID’s importance, stating, “Our mission is to offer secure and scalable solutions. Secure ID combines advanced technology with strong verification and risk management to help merchants meet regulations and prevent fraud.”
It addresses diverse industry needs with unmatched efficiency.”
Secure ID employs AI and large language models to seamlessly integrate into existing business workflows. Consequently, it significantly enhances the user experience during onboarding, data verification, and fraud detection.
The AI-driven solution excels in detecting suspicious activities and anomalies, offering reliable fraud prevention through advanced data-driven risk scoring.
Ramkumar Venkatesan, CTO of Cashfree Payments, praised Secures ID for using advanced technologies like NLP-based OCR and selfie verification.
Consequently, it significantly enhances the user experience during onboarding, data verification, and fraud detection. Moreover, this improvement leads to a smoother and more efficient process overall.
By integrating identity verification, risk assessment, and fraud prevention, Secures ID exemplifies our innovative approach.”
Secures ID consolidates Cashfree Payments’ services into one suite, including Aadhaar, PAN, driver’s license, voter ID, passport, face matching, and more.