November 20, 2015
Earlier this year, the LTP team covered news on Early Warning, a leading player in fraud prevention and risk management, announcing an acquisition of Authentify Inc., a leading player in phone-based, multi-factor authentication solutions. This acquisition enables 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. Both Early Warning and Authentify, along with Payfone and BioCatch (other Early Warning strategic alliances) have been featured in our LTP9 Online Fraud & Authentication canvas report.
Early Warning and clearXchange came together to meet LTP co-founder Amit Goel at the Money20/20 conference to share their experience of collaborating together to lead the industry and speak about the trends in authentication and other hot topics like P2P payments and APIs.
Amit had the pleasure of speaking with Lou Anne Alexander, Chief Market Development Officer at Early Warning, Peter Tapling, now vice president of Authentication Solutions for Early Warning and former President and CEO of Authentify (acquired by Early Warning), and Mike Kennedy, CEO of clearXchange (announced acquisition by Early Warning).
The conversation started with Lou Anne sharing the reasoning behind the phone-based approach and the benefits that collaboration with Authentify and Payfone brought to the table.
Our mobile strategy is related to the fact that many of our customers have mobile-first strategies themselves. Some of the capabilities that you can offer on this type of device, you can't do any other place. Our alliance with Payfone provides us the exclusive ability to offer financial service organizations real-time connectivity to the Mobile Network Operators. With the acquisition of Authentify, we can now also offer a platform and flexibility as new authentication services become available. Whether those are biometric or other services...that we haven’t even thought about.
Peter joined the conversation adding an interesting example of the way the industry is shaped and moving, saying, As banks said they are moving to mobile, they needed more help doing that. If you talk to bankers they can do one or two, maybe three projects a year. And when they pick up the project it will be 18 (fastest) to 36 months before they can get something to the market. If you look at authentication, it's moving so quickly. Take fingerprint as an example. Eve ...