The collaboration aims to protect consumers and enterprises from fraud and is set to see Authsignal incorporate iProov’s Biometric Solution Suite into its Orchestration Platform to further improve its user authentication services and security protocols.
As the online ecosystem has been gaining traction, the announcement details that it is believed that approximately 70% of the value created in the economy over the next decade will have a basis on digitally enabled business models. Due to this, organisations are on a constant lookout for ways to simplify processes and expedite customer onboarding and maintain a hassle-free user experience, while ensuring increased protection against the evolving threat landscape is in place.
Creating digital trust is key to enabling success, however past reliable verification technologies of the likes of one-time passcodes no longer offer the identity assurance that organisations require for high-risk use. Face verification technologies look to be a secure and convenient alternative for individuals to verify their identity when onboarding/enrolling or to re-authenticate via their user-facing camera on their smartphone, laptop, or tablet devices.
Through this partnership, Authsignal will have iProov’s patented Biometric Solution Suite incorporated into its fraud prevention orchestration platform to improve its authentication services and security protocols. As per the information provided in the press release, iProov helps deliver an ‘effortless’ user experience with increased levels of biometric security to assist in preventing fraud, identity theft, and other cybercrime during online onboarding, authentication, and identity verification.
Andrew Bud, founder, and CEO of iProov advised that balancing end-user experience and security is a constant challenge for organisations, adding that iProov’s technology enables the two to be combined into a solution that is easy to deploy and has a focus on user security and privacy. The company is looking forward to collaborating with Authsignal and delivering the service to provide companies and consumers alike with increased protection from online fraud.
With a focus on addressing customer problems in mid-market and enterprise space, Authsignal enables customers across the airline, financial services, fintech and marketplace sectors to protect user accounts by allowing them to implement technology solutions in an expedited and easy manner. Teams can visualise fraud risk in near-real time and adjust their risk management via a no-code-rules engine.
Commenting on the announcement, Justin Soong, CEO, Authsignal said that the company focuses on enabling customers to secure their user journeys and provide improved customer experiences, which drives them to be on the lookout for ways in which they can let them enhance this further. Per their statement, the integration with iProov is set to provide an additional layer of assurance and protection within Authsignal’s one-click marketplace and protect customers against the increasingly complex threat landscape.
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