AuthenticID, a global leader in identity verification and fraud prevention solutions, announced the newest release of Smart ReAuth™. Smart ReAuth™ is a reauthentication solution that leverages a selfie to re-confirm an identity. First released in 2021, this enhanced version offers verifications in less than one second, with rapid deployment.
Smart ReAuth™’s biometric-based approach ensures fast, accurate and secure identity verification. During enrollment, users pass through a full identity verification transaction to verify them as a good, authenticated customer. Moving forward, the users can more seamlessly prove their identity for use cases like high-risk or high-dollar value transactions, to reset a password or simply log into an application. This allows businesses to confidently verify customers or employees at any point in their journey, while blocking fraudsters and account takeovers (ATO).
For businesses, Smart ReAuth™ offers flexible deployment options. It can be rapidly deployed via a web service or seamlessly embedded into a client’s own web or mobile workflow. The intuitive merchant manager offers a user-friendly admin console and a seamless experience for users. Smart ReAuth can be customizable based on specific use cases and risk tolerance.
Also Read: Adaptiva Boosts Cybersecurity with OneSite & Defender \
Security and privacy are paramount with the Smart ReAuth™ platform. Even previously verified identities can be compromised by sophisticated fraud and spoofing attempts. With liveness detection and anti-fraud checks, Smart ReAuth™ confirms the person is present and is who they claim to be. The platform also offers secure encryption storage: once a user is reverified, their information is stored in a separate, secured, and encrypted database within the AWS cluster with custom data retention policies allowing instant data deletion.
As documented in both the 2024 State of Identity Fraud Report and the 2024 Mid-Year Identity Fraud Review, both identity fraud attempts as well as data breaches are at record highs, impacting both consumers and businesses amidst surges in fraud. Bad actors are constantly finding new security loopholes to exploit, allowing them access to systems and sensitive data. Because stopping fraud is an ongoing process, additional security measures like Smart ReAuth™ are now a necessary tool for businesses to reduce fraud loss, especially for bad actors who attempt to access systems or data on multiple attempts.
“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,” noted Alex Wong, AuthenticID VP of Product Management. “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.”
SOURCE: Businesswire