arrow icon
Company News

Prove Sees 300% Increase in YoY New Business Wins, Now Serves 8 of the Top 10 Financial Institutions

Post by:
February 17, 2021
Post by:
No items found.
February 17, 2021
Prove Sees 300% Increase in YoY New Business Wins, Now Serves 8 of the Top 10 Financial Institutions

Increase in digital transactions drives surge in demand for Prove’s modern identity authentication technology

New York, NY – September 22, 2020 – Prove, the modern platform for continuous identity authentication, today announced that it has seen a surge in demand for its phone intelligence technology over the past seven months, resulting in a 300% YoY increase in new business wins on a revenue basis. The dramatic growth is in the financial services, insurance, retail, and healthcare industries as companies in these sectors prioritize the modernization of their digital and remote processes to serve the spike in consumers interacting digitally as a result of Covid-19. Nine of the top ten financial institutions in the United States now work with Prove.

“Consumers overwhelmingly prefer businesses that are easy and safe to work with online,” said Rodger Desai, CEO and Founder of Prove. “With the acceleration of the digital economy, it’s even more vital to modernize business operations. Prove’s phone intelligence technology is driven by the cutting-edge data science required to displace cumbersome and weak identity authentication methods.”

Since the beginning of COVID-19, McKinsey reports a 45% to 100% increase in consumers who are willing to do most of their shopping online, while banking, health, education and entertainment have also surged in growth. The increase in online activity due to COVID-19 has driven companies to invest in more effective identity verification and authentication technology to not only prevent fraud, but also improve the customer experience by reducing time to verify and eliminating the need for cumbersome passwords and security questions.

Prove recently announced a $100 million investment round, which helped to fund its acquisition of Authentify from Early Warning Services, LLC and will drive R&D across phone intelligence innovation in the coming months. Prove now serves hundreds of financial institutions as well as major names in insurance, healthcare, and retail with a global platform that supports 195 countries.

About Prove

Prove is the modern platform for continuous identity authentication and is used by over 1,000 enterprises and 500 financial institutions including 10 of the top 10 financial institutions. Prove’s cloud solutions and phone intelligence-driven APIs are easily orchestrated to modernize every aspect of a business’s digital operations, from onboarding to servicing to payments, to deliver the highest Approve Rates 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

Create secure frictionless customer experiences using modern identity solutions

Join over 1,000 businesses that rely on Prove across multiple industries, including banking, FinTech, healthcare, insurance, and e-commerce. Contact us today.

Prove: the world’s most accurate identity verification and authentication platform

Trusted by 1,000+ leading companies to reduce fraud and improve consumer experiences. Contact us today to learn how you can frictionlessly secure your digital consumer journey — from onboarding to ongoing transactions.

Keep Reading...Read our latest white-paper on this subject!

Tap the button below to read our latest white-paper on the subject as industry leaders.

Accelerate your onboarding

Contact us to learn how leading companies are using Prove Pre-Fill to modernize the account creation process by shaving off clicks and keystrokes that kill conversion.

Create frictionless customer experiences

Get in touch to find out how we can help you identify your customers at every stage of their journey and offer them seamless and secure experiences.

Schedule a demo

Let our expert team guide you through our identity verification and authentication solutions. Select a date and time that works for you.

Schedule a demo

Find out how we can help you deliver seamless and secure customer experiences that comply with PSD2/SCA. Select a date and time that works for you.

Interested in more information about Prove Pre-Fill?

Download the Report

Download Aite-Novarica Group’s full report about Prove Pre-Fill, including a product overview, customer results, and how the product works.

Interested in more information about MFA?

Download the guide now to learn how you can improve security, cut down on fraud, and create the best possible customer experience.