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Innovating Security: How FinVolution is Taking Next-Generation Technologies to Fight Deepfake-Driven Financial Crimes

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SHANGHAI, July 2, 2024 /PRNewswire/ — Deepfake technology, an artificial intelligence tool capable of generating convincingly fake audio and video, is increasingly being used to perpetrate financial crimes worldwide, raising serious concerns about sophisticated fraud.

In a notable incident reported by CNN earlier this year, a finance worker was tricked into transferring $25 million during a video call with an individual posing as the company’s chief financial officer (CFO), who was actually a deepfake. Such an incident has intensified fears about the vulnerability of financial systems to advanced fraud techniques.

Furthermore, global fintech platforms are confronting a rising wave of AI-driven criminal activities. FinVolution, a leading fintech company, has reported an increase in AI-generated attacks on its platforms, and has significantly invested in deepfake detection technologies to combat this threat.

Growing concerns

The increasing prevalence of deepfake technology in financial crimes has been underscored by a report from Sumsub, an identity verification provider. Its latest annual report revealed that identity fraud cases involving deepfakes have increased tenfold from 2022 to 2023. The situation in the Philippines is particularly concerning, with a staggering 4500% increase in attempted fraud schemes utilizing deepfake technology.

In China, identity fraud involving voice manipulation has outpaced facial deepfakes, with FinVolution intercepting over 1,000 such incidents in just a few months last year. Meanwhile, Southeast Asia is experiencing a surge in AI visual deception techniques, such as facial swaps, which pose new challenges to the security of digital financial services.

Lei Chen, vice president of FinVolution and head of its big data and AI division, emphasized the urgency of the situation. “Globally, the technology to detect fake voices is not keeping pace with the technology used to create them. We are pushing for advancements in AI that can detect these fakes, aiming to align these defenses with the capabilities of large-scale model applications,” Chen said. “Such efforts are vital for effectively safeguarding the security of public information and individual rights.”

Addressing the challenges

In an effort to combat these threats, FinVolution Group has heavily invested in developing voiceprint recognition anti-fraud solutions tailored for financial scenarios. 

The company has taken a proactive approach by introducing their proprietary voiceprint recognition algorithmic model, which has been commercially utilized two years before external open-source models. The model has gained recognition within a mere four seconds across millions of transactions. Moreover, it supports multiple languages, including Indonesian, Chinese, Spanish, and more, and holds a particularly strong position in Indonesian and Spanish markets.

FinVolution is also at the forefront of combating fraud in global financial markets with its tailor-made AI anti-fraud technologies. These cutting-edge services include advanced facial and document forgery detection and voice synthesis algorithms, which are integrated into apps of leading international brands.

By leveraging facial recognition and voice verification, these AI-driven tools play a crucial role in preventing illegal impersonation and bolstering the effectiveness of risk management strategies. Notably, in Southeast Asian markets, FinVolution’s technologies stand out by accurately identifying and intercepting financial fraud activities with generative AI, achieving a detection accuracy rate of over 98%.

Advocating for industry collaboration

In another proactive move to advance AI deepfake detection development, FinVolution is leading the charge in fostering industry collaboration. This includes hosting competitions and supporting academic research. For example, the company’s latest initiative — the 9th FinVolution Global Data Science Competition — zeroes in on deepfake speech detection and challenges global participants to leverage deep learning and AI adversarial techniques.

This competition targets the accurate identification of falsified speech generated by the latest large-scale models, with increasing difficulty levels reflecting evolving threats. Notably, this year’s competition has been featured as part of the International Joint Conference on Artificial Intelligence (IJCAI) 2024 challenges.

Looking ahead, FinVolution remains steadfast in its commitment to advancing deepfake recognition technologies, prioritizing user safety, and fostering a secure financial environment on a global scale.

About FinVolution Group

FinVolution Group (NYSE: FINV) is a leading fintech company that connects millions of consumers as well as small-sized enterprises with financial institutions.

Founded in 2007 and listed on the New York Stock Exchange in 2017, we have been at the forefront of the pan-Asian credit technology industry, pioneering innovative technologies in credit risk assessment, fraud detection, big data, and artificial intelligence. With a proven track record of robust growth in pan-Asian countries, we have established leading fintech platforms in China, Indonesia, and the Philippines.

View original content:https://www.prnewswire.com/news-releases/innovating-security-how-finvolution-is-taking-next-generation-technologies-to-fight-deepfake-driven-financial-crimes-302187834.html

SOURCE FinVolution Group

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Virtusa Earns 2024 Great Place to Work® Certification™ for Third Consecutive Year

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SOUTHBOROUGH, Mass., Dec. 23, 2024 /PRNewswire/ — Virtusa Corporation, a global leader in digital business strategy, digital engineering, and IT services, is proud to announce its 2024 Great Place to Work® Certification™ for the third consecutive year. This recognition spans seven countries – India, USA, Canada, UK, UAE, Australia, and Singapore – and underscores Virtusa’s dedication to fostering a High-Trust, High-Performance workplace culture globally.

The certification is based on rigorous employee feedback, with Virtusa achieving an impressive Trust Index™ score of 79% and an Employee Net Promoter Score (eNPS) of 73%. Notably, 81% of employees agreed with the statement, “Taking everything into account, I would say this is a great place to work.”

Key areas of improvement over the past year include professional development, equal treatment, making a difference, and creating a welcoming environment.

“We are incredibly honored to receive the Great Place to Work® Certification™ for the third consecutive year,” said Lori Mullane, Chief People Officer at Virtusa. “This recognition reflects our unwavering commitment to creating an inclusive and empowering workplace where employees feel valued, supported, and inspired to achieve their best. Investing in a culture of trust, collaboration, and growth enables our teams to deliver exceptional value to our clients and communities.”

Virtusa’s commitment to professional development, diversity, and well-being reflects its efforts to build a supportive and inclusive environment. With industry-leading initiatives like Engineering IQ for career progression, robust upskilling programs, and a focus on belonging and fairness, Virtusa has created a culture where employees can thrive.

The Certification is a testament to Virtusa’s leadership in workplace culture, which supports over 30,000 employees globally. As the company continues to grow, its mission remains steadfast in providing a High-Trust, High-Performance environment that drives innovation, collaboration, and employee satisfaction.

For more information about Virtusa’s workplace culture and career opportunities, visit https://www.virtusa.com/careers.

About Great Place to Work®
Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification and highly competitive Best Workplaces™ Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee, and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Virtusa
Virtusa Corporation provides digital engineering and technology services and solutions for Forbes Global 2000 companies across industries, including financial services, healthcare, telecommunications, media, manufacturing, and technology. With a foundation in digital engineering, Virtusa empowers enterprises to navigate digital transformation, driving operational efficiency and measurable outcomes. Leveraging its Engineering First approach, Virtusa partners with organizations to tackle complex challenges, delivering solutions that ensure resilience and competitive advantage.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact: 
Paul Lesinski
Edelman
(971) 226-5299 
paul.lesinski@edelman.com 

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View original content:https://www.prnewswire.co.uk/news-releases/virtusa-earns-2024-great-place-to-work-certification-for-third-consecutive-year-302337841.html

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DogeRide Unleashes a New Era of Pet-Friendly Ridesharing in Denver

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DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app in Denver, CO Metro Area.

DENVER, Dec. 23, 2024 /PRNewswire-PRWeb/ — DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app.

“We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

Designed to bring convenience and joy to pet lovers, DogeRide allows drivers to ride with their dogs as companions while welcoming riders to travel with their furry friends. With Denver being one of the most dog-friendly cities in the country, this service is set to revolutionize how residents and their dogs move around town.

DogeRide aims to address a growing demand for pet-friendly transportation. Riders no longer have to worry about leaving their four-legged friends behind or struggling to find a rideshare that accommodates their pets. The DogeRide app allows seamless booking and ensures all participating drivers are comfortable with canine passengers.

To ensure a safe and pleasant ride, dogs must weigh under 80 pounds and be on a leash or in a crate during the journey.

Denver is a city that thrives on community and outdoor adventures, and dogs are a huge part of that lifestyle,” said Phil Warfield and Divine Tumenta, both Co-founders of DogeRide. “We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

The app’s user-friendly interface allows riders to indicate when they’re bringing a dog along, ensuring that drivers are prepared for their canine co-pilots. Additionally, all DogeRide drivers are trained to prioritize safety and comfort for both human and canine passengers. From trips to the vet or park to daily commutes, DogeRide is committed to making every journey tail-waggingly fun and hassle-free.

DogeRide also offers unique features tailored to the needs of dog owners and pet-loving drivers. Drivers are encouraged to bring their dogs along for companionship while working, creating a warm and welcoming atmosphere for riders. This innovative approach not only enhances the drivers’ experience but also provides riders and their dogs with a sense of familiarity and connection.

“DogeRide is the ultimate ridesharing service for dog lovers because we’ve designed it with the needs of Denver’s vibrant pet-owning community in mind,” said Chad Harris, Co-founder of DogeRide. “Whether you’re heading to the dog park, running errands, or going on an adventure, DogeRide ensures your furry friend can come along for the ride. We’re thrilled to be part of Denver’s pet-friendly ecosystem.”

DogeRide’s mission is to create a safe, reliable, and dog-inclusive transportation option that reflects the unique lifestyle of Denver residents. As part of its commitment to the community, DogeRide plans to partner with local animal shelters and pet organizations to support adoption events and promote responsible pet ownership.

DogeRide is now available for download on iOS and Android devices. For more information, visit www.dogeride.com.

Media Contact

Nick Dell, DogeRide Technologies Inc, 1 7207817533, support@dogeride.com, https://www.dogeride.com/ 

View original content:https://www.prweb.com/releases/dogeride-unleashes-a-new-era-of-pet-friendly-ridesharing-in-denver-302337029.html

SOURCE DogeRide Technologies Inc

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Omnis Investments Limited Extends Relationship with SS&C

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WINDSOR, Conn., Dec. 23, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Omnis Investments Limited has extended its transfer agency relationship with SS&C. The contract services Omnis’s range of mutual funds, which invest across several asset classes and regions.

With more than GBP10 billion of assets under management, Omnis is one of U.K.’s largest asset managers and works closely with clients of The Openwork Partnership, a network of 4,200 financial advisers across the country. Omnis also collaborates with 2plan wealth management, a leading wealth management firm in the U.K.

“SS&C is a long-term valued partner to Omnis, and we are looking forward to continuing our work together on ways to enhance the experience of our clients and achieve our goals,” said Simon Harris, Chief Operating Officer at Omnis. “Together with SS&C, we are committed to providing a high standard of service to all of our clients and evolving our digital service offering.”

“We are pleased to extend our valued long-term relationship with Omnis,” said Spencer Baum, Managing Director Head of Client Management, SS&C GIDS. “SS&C is committed to delivering exceptional omnichannel servicing and support to all customer types.”

Learn more about SS&C’s Global Investor and Distribution Solutions here.

About Omnis Investments Limited

Omnis Investments manages over GBP10 billion in assets, working as part of The Openwork Partnership, a network of 4,200 financial advisers across the country helping people look forward with confidence and optimism. Omnis has a range of funds and strategies across the full risk/return spectrum, managed by leading investment managers. The Omnis funds are only available through advisers of The Openwork Partnership and 2plan wealth management.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

View original content to download multimedia:https://www.prnewswire.com/news-releases/omnis-investments-limited-extends-relationship-with-ssc-302338222.html

SOURCE SS&C

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