Finovox launches a solution that generates a unique digital signature for each analyzed document. This allows organizations to detect when the same document reappears in reimbursement, damage, or compensation files.
The French startup Finovox, specializing in document fraud detection, adds a digital fingerprint feature to its platform for document fraud detection. The new feature aims to make it easier to recognize identical fraudulent documents, both within a single organization and between different companies, without storing personal data.
Unique signature
The digital fingerprint is based on an encryption process that produces a unique signature for each document. This applies to various document types, such as identity cards, invoices, receipts, medical documents, quote files, or boarding passes. Two identical documents yield the same fingerprint.
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According to Finovox, this fingerprint contains no personal data and it is not possible to reconstruct the original document. The technology specifically targets patterns in documents, not the content.
With this approach, the company aims to detect repeated fraud. This occurs when a fraudster submits the same document multiple times to receive different benefits or compensations. The feature can also indicate that a document is circulating among multiple companies, for example, within the same sector.
Fourth module
The analysis of the digital fingerprint is an extension of three existing modules of the Finovox platform: Document Processing, Fraud Analysis, and Case Investigation. By adding recognition of identical documents, Finovox aims to cover the entire lifecycle of evidence, from receipt and initial check to further case investigation.
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Additionally, the feature introduces a form of shared signaling between organizations. Finovox shares fingerprints of analyzed documents with more than 70 clients. This way, recurring documents can become visible more quickly at the sector level. Fraud that would go unnoticed at one organization can be detected once the same document appears elsewhere.