AuthenticID, a leader in identity verification and fraud prevention, has recently upgraded its Smart ReAuth platform.
Initially launched in 2021, this advanced version boasts identity verifications in under one second and promises swift implementation.
The platform utilises a biometric-based system to ensure rapid, accurate, and secure identity checks. Upon initial registration, users undergo a comprehensive identity verification process, confirming them as legitimate, authenticated customers. Subsequently, they can effortlessly validate their identities for high-risk transactions, password resets, or simple application logins, enhancing security for businesses at crucial touchpoints while deterring fraudulent activities and account takeovers.
Smart ReAuth™ is designed with flexibility in mind, offering various deployment options including web services or integration into existing web and mobile frameworks. The platform features an intuitive merchant manager and customisable settings tailored to different risk levels and use cases, ensuring a user-friendly experience.
In terms of security, Smart ReAuth incorporates advanced liveness detection and anti-fraud checks to confirm user presence and authenticity. All data, once verified, is securely encrypted and stored within an AWS cluster, with provisions for immediate data deletion as per custom retention policies.
According to the 2024 State of Identity Fraud Report and the Mid-Year Identity Fraud Review, identity fraud and data breaches are escalating, making solutions like Smart ReAuth essential. These tools provide critical defense mechanisms against sophisticated fraud attempts, often involving multiple access attempts by bad actors.
Alex Wong, VP of Product Management at AuthenticID, emphasised the dual benefits of the platform: “Businesses are constantly trying to balance both security and customer experience, but with the increase in sophisticated identity fraud threats, businesses need the enhanced security that biometrics offers.
“Smart ReAuth™ was developed to ensure that this solution isn’t just a powerful tool to fight fraud, but also improves the customer experience, giving fraud-weary customers peace of mind while eliminating the need for cumbersome processes like KBA or passwords.”
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