Prove (formerly Payfone) Acquires Mobile Authentication Lines of Business from Early Warning Services
The acquisition will enable more than 1,000 financial institutions to access a broad range of consumer identity and authentication solutions directly from Prove
The acquisition will enable more than 1,000 financial institutions to access a broad range of consumer identity and authentication solutions directly from Prove
New York, NY, (July 29, 2020) – Prove (formerly Payfone), the modern platform for continuous identity authentication, today announced the acquisition of mobile authentication lines of business from Early Warning Services, LLC, a consortium owned by seven of the country’s largest banks. The acquisition includes Early Warning’s mobile authentication business, Early Warning’s multi-factor authentication and orchestration solutions, and the Authentify® line of business.
Prove and Early Warning have partnered since 2013 to deliver authentication solutions to the U.S. financial services industry. With this transaction, Prove has assumed direct support for the customers sourced through this partnership, bringing the total number of top 10 U.S. banks served directly by Prove to seven. Geoff Miller, former SVP of Global Fraud and Identity Solutions at TransUnion, and former Payfone board member, has joined Prove as SVP and General Manager of the newly acquired multi-factor authentication business.
“When you are trusted and relied upon by the world’s leading financial institutions, other industries notice and want the same protections for their customers,” said Rodger Desai, CEO of Prove. “This acquisition will further accelerate our rapid growth and penetration into financial institutions around the globe, positioning Prove as the global standard for customer identity and authentication.”
Prove’s cloud solutions and mobile intelligence-driven APIs can be easily orchestrated to increase Approve Rates to 90%+, enabling companies to authenticate customer identities accurately, effortlessly and privately, while preventing fraud caused by false positives. Prove serves the financial, healthcare, insurance, retail, technology, and telecommunications industries with solutions that are available in 195 countries.
For more information, visit prove.com.
About Prove
Prove is the modern platform for continuous identity authentication and is used by over 1,000 enterprises and 500 financial institutions including 7 of the top 10 U.S. banks. Prove’s cloud solutions and mobile intelligence-driven APIs can be easily orchestrated to increase Approve Rates to over 90%, enabling companies to authenticate customer identities accurately, effortlessly, and privately, while mitigating fraud. Prove’s solutions are available in 195 countries. For the latest updates from Prove, follow us on LinkedIn.
Press Contact
Emily Riley
pr@prove.com
914-330-1128
The modern
way of proving identity
Trusted by 2,000+ leading companies to reduce fraud and improve consumer
Keep reading
Read the article: Still Using SMS OTP? See What It’s Really Costing Your BusinessSee what SMS OTP is really costing your business. Prove’s Beyond OTP Assessment measures cost, customer friction, fraud exposure, and OTP dependency, and provides a practical path toward Unified Authentication.
Read the article: Prove Extends SIM-Based Silent Authentication to Wi-Fi and Mobile WeProve has extended its SIM-based silent authentication technology to Wi-Fi connections and mobile web sessions, allowing supported authentication flows to verify possession of a mobile device without requiring a direct cellular data connection or an SMS one-time passcode.
Read the article: CLARITY Act could allow 11 crypto activities for US banksThe Congressional Research Service has identified 11 categories of crypto activities that the Senate-reported CLARITY Act would permit for U.S. banking organizations and credit unions, including digital asset underwriting and dealing.
