Enables organization to provide layered digital multi-factor authentication through one integrated platform. Early Warning, a trusted leader in fraud prevention and risk management, announced today that it has signed a definitive agreement to acquire Authentify Inc. 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.
With Early Warning’s announced acquisition of Authentify and its 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. This 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.
“As organizations strive to provide consumers with an online experience that is both seamless and secure, managing authentication factors and methods is crucial,” said Paul Finch, CEO of Early Warning. “With the acquisition of Authentify, Early Warning is well on its way to realizing its vision of providing both the powerful multi-faceted authentication needed today plus the advanced authentication needs of the future.”
Peter Tapling, CEO of Authentify, commented, “Guarding businesses and consumers from fraud is becoming more critical each day, and this acquisition represents two companies with a common objective uniting to reinforce that goal. Our customers have come to trust Authentify to better secure their online environments, and we are pleased to see their ability to authenticate with ease and accuracy only strengthened.”
About Early Warning
Early Warning provides risk management solutions to a diverse network of 2,300 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. For more than 20 years, the company has worked with organizations of all sizes to advance collaborative risk management and fraud prevention. For more information please visit www.EarlyWarning.com.
Authentify provides intuitive and consistent multi-factor authentication services for protecting user accounts or key information from unauthorized access. Where many authentication techniques are powerless when valid credentials are wielded by hackers and imposters, Authentify offers certainty, and certainty is power.
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. For more information, visit www.Authentify.com.