Fraud prevention and risk management specialist Early Warning has signed a definitive agreement to acquire Authentify. Coupled with Early Warning’s 2013 equity investment and exclusive agreement with Payfone, the company has created a differentiated digital channels authentication solution suite that augments its identity and payments solutions.
Founded in 1999, Authentify is a worldwide leader in phone-based, multi-factor authentication solutions. It currently serves more than 1,200 financial institutions and e-commerce companies.
Upon closing, 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.
Early Warning’s digital channels authentication solution suite offers the following benefits:
• Improves mobile security and reduces consumer friction by leveraging innovation in biometric and behavioral authentication;
• Strengthens authentication events, unlike usernames and passwords;
• Supports the integration, delivery, prioritization and management of current and future digital authentication technologies enabled by a Software Development Kit (SDK); and
• Offers a true, persistent identifier that is authenticated in real time, via Mobile Network Operators.
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 introduced the global security community to its phone-based user authentication services in 2001. 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. Authentify xFA mobile multi-factor authentication technology, which employs app endpoints on smart devices, was introduced in 2013.
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