BM Technologies introduces AI-powered BMTX Identity Verification™ to reduce student enrollment fraud in higher education.

BM Technologies (BMTX) has introduced BMTX Identity Verification™ (IDV), a service aimed at reducing student enrollment fraud in higher education. With enrollment costs rising by 32% from 2020 to 2022, BMTX IDV utilizes AI and machine learning to decrease fraud rates by up to 85% and third-party fraud by 95%. The service enhances efficiency for students and administrators, saving institutions 15-20 hours per week on manual reviews. It is already in use at multiple colleges.

October 16, 2024
4 Articles