authID Partners with DataVisor, A Leading Fraud and Risk Platform, Through Global OEM Agreement

Rhea-AI Summary

authID Inc. (Nasdaq: AUID) has partnered with DataVisor, a leading AI-powered fraud and risk prevention platform, through a global OEM agreement. This collaboration aims to integrate authID's advanced biometric identity solutions into DataVisor's platform, enhancing defenses against identity fraud and AI-driven deepfakes for global financial services and large enterprise customers.

Key highlights of the partnership include:

• Integration of authID's biometric services to combat fraud and deepfakes
• Streamlined account onboarding and enhanced security against account takeovers
• authID's 700 milliseconds biometric processing speed
• Automated identity verification for over 14,000 government-issued ID documents
• Presentation Attack Detection (PAD) Level 2 accuracy to thwart deepfakes and other attacks

This partnership is expected to accelerate customer enrollment, reduce abandonment, and enhance revenue for DataVisor's enterprise customers while providing robust security measures.

Positive

• Partnership with DataVisor expands authID's market reach in financial services sector
• Integration of authID's biometric solutions enhances DataVisor's fraud prevention capabilities
• authID's 700 milliseconds biometric processing speed offers competitive advantage
• Automated verification for over 14,000 government-issued ID documents increases efficiency
• PAD Level 2 accuracy strengthens defense against deepfakes and other sophisticated attacks

Negative

• None.

Insights

Financial Technology Analyst

The partnership between authID and DataVisor represents a significant development in the fintech security landscape. By integrating authID's biometric solutions into DataVisor's fraud prevention platform, this collaboration addresses the growing threat of AI-driven financial crimes, particularly deepfakes and account takeovers.

From an investor's perspective, this deal could potentially boost authID's market presence and revenue streams. The OEM agreement with a "world's leading" platform like DataVisor may lead to increased adoption of authID's technology among large enterprises and financial institutions. However, the financial terms of the agreement aren't disclosed, making it challenging to quantify the immediate impact on authID's bottom line.

While this partnership enhances authID's competitive position, investors should monitor how it translates into tangible financial results in the coming quarters. The success of this integration and its adoption rate among DataVisor's clients will be important indicators of the deal's long-term value.

Cybersecurity Expert

This partnership marks a significant advancement in combating sophisticated cyber threats, particularly in the financial sector. The integration of authID's biometric solutions with DataVisor's AI-powered platform creates a formidable defense against deepfakes and AI-driven attacks, which have become increasingly prevalent and challenging to detect.

authID's 700 milliseconds biometric processing speed is particularly noteworthy, as it addresses the critical balance between security and user experience. This rapid processing can significantly reduce friction in customer onboarding and authentication processes, potentially leading to higher conversion rates for financial institutions.

However, as with any biometric system, there are privacy and data security considerations that both companies and their clients must address. Investors should monitor how authID and DataVisor navigate these concerns, as they could impact adoption rates and regulatory compliance.

Market Research Analyst

This partnership taps into a rapidly growing market for advanced fraud prevention solutions in the financial services sector. With the rise of generative AI and deepfakes, there's an increasing demand for robust identity verification tools that can keep pace with evolving threats.

authID's integration into DataVisor's platform could potentially expand its reach to a broader customer base, particularly among large enterprises and financial institutions. This aligns with authID's stated go-to-market strategy and could accelerate its market penetration.

However, the competitive landscape in this space is intense, with numerous players offering AI and biometric-based security solutions. Investors should consider how this partnership differentiates authID and DataVisor from competitors and whether it can translate into sustainable market share growth. The lack of specific financial projections or contract values in the announcement makes it challenging to quantify the potential impact on authID's future earnings.

Partnership to integrate and deliver authID’s next-gen biometric identity solutions to DataVisor’s global financial services and large enterprise customers

DENVER, Aug. 08, 2024 (GLOBE NEWSWIRE) --  authID Inc. [Nasdaq: AUID], a leading provider of innovative biometric identity verification and authentication solutions, and DataVisor, the world’s leading AI-powered fraud and risk prevention platform, today announced they have signed an OEM agreement to integrate authID’s biometric services in fighting identity fraud, and malicious, generative AI-driven deepfakes.

“Our partnership with DataVisor further validates authID’s superior solutions for defeating deepfake attacks and fraud, while advancing our go-to-market strategy to distribute our solutions through leading financial services technology providers,” said Rhon Daguro, CEO of authID. “Our market-leading biometric solutions ensure DataVisor’s enterprise customers ‘Knows Who’s Behind the Device™’ with speed, accuracy and precision. Our combined solutions offer a compelling risk toolset that streamlines account onboarding of good customers and stops cybercriminals from performing account takeovers and seizing assets, while delivering the fastest, frictionless, and most accurate user identity experience.” 

Today, the scale of financial crimes is rapidly growing with adversarial generative AI increasing the frequency of deepfakes, social engineering fraud and ransomware attacks on financial services and digital payments providers. Needing a leading identity assurance partner to defeat these challenges, DataVisor recognized the value of authID’s next-gen biometric identity life-cycle platform, ease of integration, and market-leading 700 milliseconds biometric processing. Under the agreement, DataVisor’s comprehensive fraud and risk management platform will now seamlessly integrate with authID’s automated biometric identity verification and biometric authentication to streamline and secure digital consumer onboarding and ongoing authentication for DataVisor’s FinServ customers.

“Our vision has always been to create a comprehensive, end-to-end platform that effectively combats all forms of financial fraud,” said Yinglian Xie, CEO and Co-Founder of DataVisor. “By partnering with authID’s trusted biometric solutions, we are enhancing our defenses against today’s AI-driven phishing scams and cyberattacks while providing the seamless and convenient experiences that today’s digital-savvy consumers demand.”

With the integration of authID’s patented identity platform, DataVisor enterprise customers can accelerate good customer enrollment, reduce abandonment, and accordingly enhance revenue, while stopping account takeovers with enhanced security and operational efficiency. With an easy, intuitive user experience delivered in any browser, authID’s document-based identity verification delivers robust, automated authentication for over 14,000 US and international government-issued ID documents, and Presentation Attack Detection (PAD) Level 2 accuracy in thwarting deepfakes and injection and presentation attacks. authID offers the ease of a quick biometric selfie that replaces the risks and hassles of legacy authentication with secure, fast and friendly account access and trusted account resets, while keeping valued assets safe from phishing and fraud.

For further information about how authID can help your organization secure your workforce or consumer applications against identity fraud, deepfakes, 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. Discover more at www.authID.ai.

About DataVisor

DataVisor is the most comprehensive fraud and financial crime prevention platform powered by sophisticated AI and modern machine learning capabilities. DataVisor empowers customers to protect against future attacks before they happen by detecting and acting on rapidly evolving fraud patterns in real time. DataVisor’s adaptable solution and data-driven approach provides businesses with unparalleled protection in an ever-evolving digital landscape.

DataVisor’s award-winning solutions and continuous innovation make them the trusted partner of choice for Fortune 500 companies and leading organizations worldwide, specializing in financial services, banking, credit unions, fintech, and payments.

authID Media Contact

Rhon Daguro
CEO
Investor-Relations@authid.ai

DataVisor Media Contact

Tara Strazdas
The Fletcher Group
DataVisor@fletchergroupllc.com

FAQ

What is the purpose of authID's partnership with DataVisor?

The partnership aims to integrate authID's biometric identity solutions into DataVisor's fraud and risk prevention platform to combat identity fraud and AI-driven deepfakes for global financial services and enterprise customers.

How fast is authID's biometric processing speed?

authID offers a market-leading biometric processing speed of 700 milliseconds.

What types of ID documents can authID's system verify?

authID's system can verify over 14,000 US and international government-issued ID documents.

What level of Presentation Attack Detection (PAD) does authID offer?

authID offers Presentation Attack Detection (PAD) Level 2 accuracy to thwart deepfakes and other types of attacks.

How will this partnership benefit DataVisor's customers?

The partnership is expected to accelerate customer enrollment, reduce abandonment, enhance revenue, and provide stronger security against account takeovers for DataVisor's enterprise customers.