Entrust launches AI identity tool to tackle USD $112bn fraud

Entrust has unveiled a new AI-powered identity verification service for its Identity-as-a-Service platform to help businesses combat online fraud.

As cyber threats become more advanced, businesses are under increasing pressure from financial losses. In 2024 alone, US businesses reportedly lost an estimated USD $112 billion to fraud, accounting for nearly 7% of their total revenue. The 2025 Identity Fraud Report further highlighted that digital forgeries comprise 57% of document fraud cases, marking a 244% rise from the previous year. Deepfake attempts now represent 40% of video biometric fraud incidents, occurring on average every five minutes.

In response to such evolving threats, Entrust IDaaS is now equipped with AI-enhanced biometrics, a phishing-resistant passwordless multi-factor authentication (MFA) system, adaptive risk-based authentication (RBA), and secure digital onboarding. The new system allows biometric data to be stored directly on a user's mobile device, thus catering to businesses aiming to meet specific data protection regulations that favour on-device data storage.

This capability is designed to meet the needs of businesses by allowing biometric verification directly on a user's device, rather than through cloud storage. This approach enhances situations such as securing high-value transactions, while maintaining a seamless user experience through facial biometrics as a step-up authentication method.

The AI-driven solution enables businesses to securely onboard users by capturing an encrypted biometric identifier, which is stored either on the user's device or within a secure customer database. Users can then recapture their biometric information during high-risk actions, such as account recovery or large financial transactions, for comparison against the stored biometric record. This method offers enhanced fraud prevention and protection, mitigating risks posed by traditional credentials like passwords or tokens.

Additional benefits for businesses include improved fraud prevention against sophisticated threats like deepfakes and synthetic identities, a reduction in vulnerabilities from phishing attacks through passwordless authentication, enhanced data privacy via on-device biometric data storage, and a streamlined user experience that moves away from reliance on passwords or tokens.

Bhagwat Swaroop, President of Digital Security at Entrust, commented on the development: "With fraud becoming more sophisticated, it's more important than ever that businesses establish verified identities from day one. Failure to do so allows more bad actors through a business' front door, increasing fraud risks and forcing reliance on clunky step-up authentication methods at day two and beyond. Entrust facial biometric authentication with Onfido identity verification offers an efficient, low-friction way to confirm user identities throughout the user's lifecycle, helping businesses answer the question: is this user still the same person we onboarded at day one?"

The integration follows Entrust's recognition as a Leader in the 2024 Gartner Magic Quadrant for Identity Verification and as a Challenger in the 2024 Gartner Magic Quadrant for Access Management for a second year running. Additionally, Entrust received the title of Innovation Leader in Frost & Sullivan's 2024 Frost Radar for Customer Identity and Access Management.