TAIPEI (Taiwan News) — HiTrust has built an AI-powered defense system to tackle payment fraud and online scams, aiming to secure its place in the global cybersecurity market.
Founded in 1998, HiTrust specializes in digital finance and information security, per CNA. From its Taipei headquarters and offices across Asia, it serves more than 16,000 industry clients worldwide.
The company formed an AI team seven years ago to combat fraud in e-commerce and banking. “We wanted to offer effective solutions to help clients deal with these problems,” CEO Kuo Cheng-i said (郭澄逸), stressing that research must be tied to real-world needs.
He likened fraud prevention to Formula 1 racing: even the best drivers need high-performance cars. As scammers deploy AI to launch faster, larger attacks, HiTrust has integrated the technology into its tools, though Kuo admitted that commercial breakthroughs only came in the past three years.
Its flagship solution, Veri-id, analyzes device fingerprints, user behavior, and customer profiles to flag anomalies instantly. Already adopted by more than 100 banks and payment institutions, it helps reduce reliance on SMS one-time passwords by tailoring security checks to risk levels.
Beyond payments, Veri-id also blocks bots from buying concert tickets or hijacking e-commerce promotions. The system has been rolled out on leading platforms in Taiwan, screening out abnormal accounts and devices linked to multiple cards.
Despite what Kuo calls its “elephant-like” pace, HiTrust has built momentum through investment. Research setbacks gave way to recognition at AI competitions and adoption by clients worldwide. “AI is a big market that has only just begun,” Kuo said.
