UnifyID to acquire proof to improve multi-factor user authentication

The team at UnifierID announced that they were teaming up with To prove.

the UnifierID notes that since they started offering services, they knew or realized that they were only dealing with a relatively small part of the identity problem. They also mentioned that they knew that there are “strong network effects” in identity and that entities that operate on a larger scale may therefore have an unfair advantage over smaller market players.

According to UnifyID, they have developed a behavioral biometrics solution that is accurate or reliable enough to authenticate the individual behind the device without needing the active participation of users.

UnifyID claims to have great customers, but their business impact was limited because they only fixed part of the problem.

Customers had to put together their own identification solution from various service providers, and the UnifyID team missed out on some customer opportunities because some companies weren’t relying on a startup for needs as critical as their identity stack. . UnifyID management further noted that it did not have the resources to have the impact it intended to have.

They chose Prove on a large identity market, based on several reasons or criteria.

According to UnifyID, identification solutions must efficiently perform identity verification (IDV), proving that a user is actually linked to a real identity. This step is usually done when people create their account.

Then there’s authentication, which is making sure you’re the same person you were the last time you logged into a platform. This process is typically performed each time users sign in to a service.

UnifyID explains that they focused on making the second part (authentication) as seamless as possible, as authentication can be a source of friction for users that takes place all the time.

However, identity verification is a key part of identity, especially when onboarding users. And the current state of identity verification is terrible, according to UnifyID.

Many solution providers tend to ask questions based on public records or a customer’s credit report. They can also ask users to take a photo of their driver’s license or enter a credit card number.

Knowledge-based factors are irrelevant to identity verification as they are difficult to keep secret or hide in a digital environment where data breaches have become quite common. They are also annoying for most users.

According to UnifyID, Prove offers the “best, most transparent solution” available on the market for performing identity verification. It allows people to use their mobile phone number to verify their identity seamlessly.

Prove has made agreements with various mobile operators to access key information about users’ mobile numbers, so they can determine whether a person is the actual owner of a particular number and whether a request actually comes from his mobile phone.

Since this usually happens without the user having to do anything, it allows Prove to provide solutions like Prove Pre-fill, which can significantly reduce friction during client onboarding while making the process more secure.

Prove is used by many financial institutions around the world, including major US banks, the announcement notes.

About Clara Barnard

Clara Barnard

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