A MALVERN based cyber security firm has secured considerable investment to boost its roll out of groundbreaking technology designed to combat AI-driven fraud.
FARx, based at Malvern Hills Science Park, is the world’s first company to develop fused-biometrics – combining speech, speaker and facial recognition to verify identity.
The firm has received £250,000 through the Government’s Seed Enterprise Investment Scheme (SEIS), which supports early-stage start-ups.
The cash injection will accelerate research and development as the company works to protect businesses and public services from the growing threat of AI-enabled scams such as deepfakes, voice cloning and synthetic identities.
Founded in 2022, FARx is led by a team with more than 30 years’ experience in biometrics. Its patented technology uses artificial intelligence to detect not only what is being said, but who is speaking – adapting to individual users while spotting anomalies that could indicate fraud.
Already embedded in trading platforms used by more than half of the world’s investment banks, the system also has applications across healthcare, retail, education, finance and gaming.
FARX chief executive officer, Clive Summerfield, said: “Receiving this investment is a real game-changer – an enabler that will help us roll out FARx across a wider range of applications and industries, while delivering strong returns for our investors.
“This is the future of digital ID verification, built to outsmart a new era of AI-powered threats.”
