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Posted on March 15, 2018 by staff

GBG buys digital image fraud specialist

Identity data intelligence specialist GBG has acquired Verifeyed, whose award-winning technology can detect images that have been photoshopped or manipulated.

As part of the deal, Verifeyed founder Dr Babak Mahdian, a world-leading researcher in machine-based image analysis and artificial intelligence, is joining the Chester-based business.

With the increasing prevalence of digital image editing software, it’s easier than ever for criminals to falsify insurance claims or create fraudulent lending applications. Most commonly, images are digitally tampered with to make an insured asset appear damaged, or to alter information on an identity document.

Verifeyed was founded in 2004 to address this challenge, and has since helped some of the world’s largest insurance and financial companies prevent fraud, automate claims handling and significantly cut costs.

The company’s technology works by scanning and processing images pixel by pixel, using a range of techniques including looking at image noise to determine where images and video have been manipulated.

“I am delighted to welcome Dr Babak Mahdian to GBG,” said CEO Chris Clark. “Bringing together Verifeyed’s digital image tampering detection capabilities with our existing data and technology will bring huge benefit to our customers.

“Babak is a world-leading researcher in the field of machine-based image analysis and Artificial Intelligence and a very important addition to our global technology team.”

Dr Babak Mahdian added: “It is exciting to become part of a global technology leader like GBG. Our combination brings together two innovative, customer-focused businesses with deep knowledge and expertise in identity.”