authID and Syntrove Announce OEM Partnership for authID’s Secure Biometric Identity Services
authID has partnered with Syntrove to integrate its biometric identity verification and authentication solutions into Syntrove's risk and fraud technology platform. This collaboration aims to combat AI-driven fraud, deepfakes, and cyberattacks by providing a robust identity assurance system. Syntrove will distribute authID's technology to its enterprise clients in banking, insurance, gaming, crypto, and supply chains. The joint effort promises to offer the fastest biometric processing on the market, enhancing security and user experience. AuthID's solutions will help enterprises secure digital interactions and reduce risks associated with cyber threats.
- OEM partnership with Syntrove expands market reach.
- Integration of advanced biometric identity verification.
- Targeting high-risk areas: banking, insurance, gaming, crypto, supply chain.
- Fastest biometric processing in the market at 700ms.
- PAD Level 2 accuracy for thwarting deepfakes and injection attacks.
- Supports over 13,000 US and international government-issued ID documents.
- Enhanced user experience with quick selfie authentication.
- Potential to boost customer trust and loyalty.
- OEM partnerships might lead to revenue sharing, reducing margins.
- Dependence on Syntrove's customer base for market penetration.
- Potential risks of technical integration challenges.
- No immediate financial benefit disclosed in the PR.
- Initial deployment to a single gaming industry customer.
Insights
Financial implications of authID's OEM partnership with Syntrove could be significant. The integration of authID's biometric identity solutions into Syntrove's risk and fraud technology platform opens up new revenue streams, especially across varied verticals like banking, insurance, gaming and crypto. This diversified exposure reduces risk and increases stability in revenue generation. Additionally, partnering with Syntrove means quicker and broader market penetration due to Syntrove's established customer base, a strategy that could speed up
However, investors should also consider competitive landscape. The biometric identity verification market is rapidly evolving, with several key players. The success of this partnership will depend on how well authID’s technology distinguishes itself in terms of speed, accuracy and ease of integration. Monitoring
The integration of authID’s biometric identity platform into Syntrove’s offerings is noteworthy from a technological perspective. AuthID’s ability to process biometric data in 700ms is a standout feature in the market. This rapid processing time means reduced friction for users, which is essential for adoption in high-frequency environments like gaming and banking. Additionally, the Presentation Attack Detection (PAD) Level 2 accuracy in thwarting deepfakes and injection attacks provides a robust defense against increasingly sophisticated AI-driven threats.
From a technological standpoint, the seamless integration and ease of use are critical. These factors not only enhance security but also improve user experience, making the technology more appealing to Syntrove's broad customer base. However, the challenge will be to maintain this performance as the user base scales.
The partnership between authID and Syntrove is expected to have a substantial impact on the market positioning of both companies. AuthID’s biometric solutions offer a competitive edge in combating AI-driven fraud, which is a growing concern across multiple industries. By integrating these solutions, Syntrove can enhance its value proposition to existing and potential customers, particularly in sectors like banking and gaming where security and user experience are paramount.
This collaboration also signals a broader market trend toward integrating advanced biometric solutions to enhance security measures. It positions both companies well in the ongoing shift toward more secure digital environments. Retail investors should watch for announcements of new customer acquisitions and case studies demonstrating the efficacy of these solutions, as these will be strong indicators of market acceptance and future growth prospects.
Expands reach of authID’s next-gen biometric identity platform with integration to Syntrove’s risk and fraud technology platform
Denver, June 18, 2024 (GLOBE NEWSWIRE) -- authID Inc. [Nasdaq: AUID], a leading provider of innovative biometric identity verification and authentication solutions, and Syntrove, a leading consulting and professional services firm specializing in providing risk, data, delivery and technology expertise, today announced they have signed an OEM agreement that will integrate authID’s biometric capabilities in fighting malicious, generative AI-driven fraud, deepfakes, and cyberattacks into the Syntrove offering. Syntrove, whose vision is to be at the forefront of technological and process evolution, will now distribute authID’s next-gen authentication solutions to its portfolio of leading banking, insurance, gaming, crypto and supply-chain enterprise customers to stop fraud with the strongest identity assurance available in the market.
“Our partnership with Syntrove is a force multiplier that helps accelerate the delivery of our next-gen biometric authentication solutions into a broad set of verticals. We are excited to work with Syntrove to onboard our first joint customer from the gaming industry to secure workforce identity,” said Rhon Daguro, CEO of authID. “Combining Syntrove’s stellar risk-management expertise and technology platform with authID’s trusted identity assurance, precision, and seamless user experience delivers a leading market differentiator to help stop fraud, detect deepfakes, and combat generative adversarial AI fraud.”
Digital enterprises today confront ever-increasing risk from fraudsters who leverage AI to generate fake ID’s and deepfakes that compromise digital account openings, foil current risk reviews, and accelerate account takeovers and asset seizures. Needing a trusted technology partner to defeat these challenges, Syntrove recognized the value of authID’s next-gen biometric identity life-cycle platform, ease of integration, and lightning-fast experience.
“We partnered with authID for its market-leading speed, accuracy and precision in delivering trusted identity solutions that defeat today’s adversarial AI-driven cyberattacks in record time,” said Matt Goodman, CEO and Founder of Syntrove. “Together, Syntrove and authID will deliver the strongest identity assurance available, so our enterprise customers know who is behind the device every time and can trust the presented ID is authentic, while their users enjoy a fast, seamless authentication experience.”
authID’s biometric and document-based identity verification will help Syntrove’s enterprise customers onboard new consumers and employees with trust through highly accurate and quick 700ms biometric processing—the fastest on the market. authID’s strong biometric root of trusted identity is derived through automated authentication available for over 13,000 US and international government-issued ID documents, Presentation Attack Detection (PAD) Level 2 accuracy in thwarting deepfakes, injection attacks and presentation attacks, and biometric matching of a selfie to the credential photo.
Binding a user’s proofed identity to their account, authID’s life-cycle identity platform offers users the ease of a quick selfie to secure fast and friendly access to digital resources and to perform trusted account resets. Eliminating the risks, uncertainty, and hassles of friction-filled one-time PINS, authID delivers strong, precise, and accurate, next-generation authentication that helps keep the enterprise safe from phishing and fraud.
Continued Daguro, “authID is committed to protecting the digital ecosystem by ensuring enterprises ‘Know Who Is Behind the Device’ at onboarding and throughout the user journey to prevent cybercriminals from performing account takeovers and seizing assets. Our sales and deployment teams will join forces with Syntrove to help our customers reduce risk by providing the highest levels of identity trust, coupled with frictionless identity experiences that quicken workforce adoption and deepen customer loyalty.”
For further information about how authID can help your organization secure your workforce and consumer applications against identity fraud, cyberattacks and account takeover, contact us.
About authID
authID (Nasdaq: AUID) ensures cyber-savvy enterprises “Know Who’s Behind the Device” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. For more information, go to www.authID.ai.
About Syntrove
Syntrove is a trusted leader in providing comprehensive consulting services, expert advisory, and innovative solutions to address complex business challenges. As a certified credit reporting agency, we offer advanced data management (MDM), risk management, and fraud detection solutions. Leveraging extensive expertise in Risk, Data, Delivery, and Technology, we transform ideas into actionable outcomes. With over 30 years of combined leadership experience, our team delivers results driven by integrity and excellence. As your trusted partner, we are committed to helping you achieve success through tailored solutions. Discover more at www.syntrove.com.
authID Media Contact
Rhon Daguro
CEO
Investor-Relations@authid.ai
Syntrove Media Contact
Matt Goodman
CEO
info@syntrove.com
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