Early Warning, a leading player in fraud prevention and risk management, has announced that it has signed a definitive agreement to acquire Authentify Inc. Founded in 1999, Authentify is a leading player in phone-based, multi-factor authentication solutions. It currently serves more than 1,200 financial institutions and e-commerce companies.
This acquisition will enable Early Warning to offer organizations digital multi-factor authentication and the ability to integrate, manage and prioritize multiple digital channel authentication methods, via one platform, reducing fraud and risk while improving the consumer experience.
With Early Warning’s announced acquisition of Authentify, the company has created a differentiated digital channels authentication solution suite that augments its identity and payments solutions. This digital channels authentication solution suite will offer the following benefits:
> Improve mobile security and reduces consumer friction by leveraging innovation in biometric and behavioral authentication
> Strengthen authentication events, unlike usernames and passwords
> Support the integration, delivery, prioritization and management of current and future digital authentication technologies enabled by a Software Development Kit (SDK)
> Offer a true, persistent identifier that is authenticated in real time, via Mobile Network Operators
Both Early Warning and Authentify, along with Payfone (another Early Warning partner) have featured in our LTP9 “Online Fraud & Authentication” canvas report. LTP9 is the proprietary leaderboard framework from Let’s Talk Payments representing the 9 leading companies in various payments & commerce related categories. It provides a quick reference, a snapshot of companies in the category with (a) the highest impact, (b) the largest market momentum and (c) significant product focus for each of the carefully selected categories across the payments ecosystem.
In this exclusive report, we have, using our independent metrics, highlighted what makes Authentify worth Early Warning’s investment.
Early Warning provides risk management solutions to a diverse network of 1,100 financial institutions, government entities and payment companies, enabling businesses and consumers to transact securely and conveniently. Owned and governed by five of the largest banks in the U.S., Early Warning’s unique business model facilitates a data exchange system based on collaborative, shared intelligence.
Authentify provides intuitive and consistent multi-factor authentication services for protecting user accounts or key information from unauthorized access. Its original phone-based Security as a Service (SaaS) revolutionized the two-factor authentication market. Two-factor authentication (2FA), or two-step verification (2SV), has become a standard for protecting accounts of all types.