authID Deploys Verified™ Human Factor Authentication™ Service with Tax Status

Rhea-AI Summary

authID (Nasdaq: AUID) has partnered with Tax Status, a provider of IRS account monitoring, to enhance security for its enterprise partners. By implementing authID's Human Factor Authentication (HFA), Tax Status aims to protect sensitive tax data and streamline account onboarding. HFA integrates FIDO2 passwordless authentication and biometrics to prevent identity fraud. This collaboration supports compliance with IRS identity authentication mandates while ensuring a user-friendly experience. CEO Tom Thimot emphasized the importance of ethical data security in combating cybercrime.

Positive

• Partnership with Tax Status enhances security solutions for enterprise partners.
• Implementation of Human Factor Authentication (HFA) improves protection against account takeover and fraud.
• Compliance with IRS identity authentication mandates supports regulatory requirements.

Negative

• None.

Verified™ stops account takeover with unphishable authentication for Tax Status’ enterprise partners

DENVER, Jan. 09, 2023 (GLOBE NEWSWIRE) -- authID [Nasdaq: AUID], a leading provider of secure identity authentication solutions, today announced that Tax Status, a leading provider of official tax data and IRS account monitoring, has launched the full suite of authID’s identity authentication services. Tax Status implemented authID’s Human Factor Authentication services (HFA) to help its enterprise partners in wealth management, lending, accounting, and other financial service providers protect highly sensitive tax data, defend against password compromise, and seamlessly secure account onboarding of their consumers.

authID’s HFA secures customer journeys with strong identity and document authentication that weeds out fraud during online customer onboarding. HFA also eliminates the risks and costs of passwords with strong FIDO2 passwordless authentication that offers seamless login across any mobile or desktop device.  For high-risk transactions or where compliance requires an additional audit trail, HFA delivers unphishable authentication by combining passkeys and device biometrics with live cloud biometrics, thereby adding a second factor to verify the user behind the device.

“Consumers who provide highly sensitive personal data to third parties deserve an identity solution that preserves their privacy and keeps their information completely secure from fraud and theft,” said authID CEO Tom Thimot. “Our next-gen Verified platform, which prioritizes ethical, consent-based biometrics, provides Tax Status and their clients with a comprehensive fraud prevention solution and ‘unphishable’ authentication that is more secure than legacy MFA. We are proud to support Tax Status in its efforts to protect U.S. taxpayers from cybercrime, and to further empower a financial system that prioritizes data privacy and consent in identity authentication.”

authID’s combination of FIDO2 passkeys with phishing-resistant biometric identity assurance helps Tax Status prevent identity fraud and account takeover, comply with the Internal Revenue Service’s taxpayer identity authentication mandate, and deliver quick and seamless customer experiences.

“authID’s innovative biometric authentication has proven to be a cut far above other identity management solutions,” said Tax Status CEO and founder Charles Almond. “We are proud to offer the most fortified fraud prevention and enterprise security technology on the market, without compromising on convenience and user experience.”

About authID Inc.
At authID (Nasdaq: AUID), We Are Digital Identity®. authID provides secure identity authentication through Verified™, an easy-to-integrate Human Factor Authentication™ (HFA) platform. Human Factor Authentication combines unphishable, FIDO2 passwordless device authentication with cloud biometrics to authenticate the human behind the device. Powered by sophisticated biometric and artificial intelligence technologies, authID eliminates passwords to fortify enterprise security and trust between organizations, employees, and customers. For more information, go to www.authID.ai.

About Tax Status
Tax Status is a fully digital IRS account monitoring solution that provides continuous access to income and all official IRS financial data for any business or individual.  With analytics and ongoing monitoring capabilities, Tax Status delivers critical notifications and insights that lenders, businesses, and individuals can use to make more informed decisions. For more information, go to www.TaxStatus.com.
  
authID Media Contact
Aileen McNelis
NextTech Communications
amcnelis@nexttechcomms.com

FAQ

What is the partnership between authID and Tax Status?

authID has partnered with Tax Status to enhance security for enterprise partners using Human Factor Authentication.

How does Human Factor Authentication work?

Human Factor Authentication combines passwordless FIDO2 authentication with biometric verification to secure customer identities.

What are the benefits of the HFA system for Tax Status?

The HFA system improves fraud protection, streamlines customer onboarding, and ensures compliance with IRS requirements.

When was this partnership announced?

The partnership announcement was made on January 9, 2023.

What does the implementation of HFA mean for U.S. taxpayers?

It means enhanced protection against cybercrime and improved security for sensitive tax data.