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Avaya Invests in Journey, a Leading Zero Knowledge and Digital Identity Platform Provider
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Avaya Holdings Corp. (NYSE: AVYA) has announced a strategic investment in Journey.Ai, which specializes in a digital trusted identity platform enhancing privacy, security, and customer experience. Journey's technology utilizes multi-modal biometric authentication, achieving 99.9999% accuracy for identity verification in under two seconds. Integrated with Avaya OneCloud CCaaS, this innovation aims to improve customer interactions while ensuring data safety. The transaction, completed this month, is not expected to materially impact Avaya's financials for the current quarter.
Positive
Strategic investment in Journey.Ai enhances Avaya's security capabilities.
Journey's technology offers high accuracy in identity verification (99.9999%).
Integration with Avaya OneCloud CCaaS promises improved customer experience.
Negative
Transaction terms undisclosed, which may raise concerns about transparency.
Investment not expected to have a material impact on current quarter's financials.
RALEIGH-DURHAM, N.C.--(BUSINESS WIRE)--
Avaya Holdings Corp. (NYSE: AVYA) today announced it has made a strategic investment in Journey.Ai, Inc., developer of a digital trusted identity platform focusing on enhancing privacy, security, and customer experience. Based in Denver, Colorado, Journey is a part of the Avaya DevConnect partner ecosystem. The Journey digital trusted identity platform, integrated with Avaya OneCloud™ CCaaS (Contact Center as a Service) offerings, enables enterprises to interact and transact with customers in a secure and simple manner.
With its use of multi-modal biometric technologies, including facial and voice authentication, Journey can confirm customer identity with 99.9999% accuracy in less than two seconds. Journey’s patented Zero Knowledge™ Network gives Avaya OneCloud CCaaS customers the unique ability to digitally request information from their customers, from Personal Identifiable Information (PII) to payments to electronic signatures. This patented technique routes the information to back-office systems to be verified and acted on before returning the results back to the contact center agents or specific applications and revealing only the need-to-know details.
“Journey’s innovation in Zero Knowledge, coupled with core Avaya Contact Center offerings address critical components of the customer experience along with the privacy and security requirements faced by contact centers,” said David Austin, Avaya GVP of Corporate Development. “This strategic investment in an ecosystem partner enhances key security capabilities for our global customers, and is bringing additional industry-leading innovation into the Avaya OneCloud platform.”
“To combat the increase in data breaches and identity theft, the Avaya OneCloud Platform provides an ideal solution to leverage and orchestrate trusted identity throughout the customer journey across blended channels and devices to improve the customer experience,” said Brett Shockley, Co-Founder and CEO of Journey. “By verifying a customer through flexible biometrics, rather than relying on passwords like their favorite pizza topping or high school mascot, we have an opportunity to simultaneously fight fraud and customer friction in the contact center.”
The terms of the transaction were not disclosed. The transaction closed this month and is not expected to have a material financial impact for the current quarter.
About Avaya
Businesses are built by the experiences they provide, and everyday millions of those experiences are delivered by Avaya Holdings Corp. (NYSE: AVYA). Avaya is shaping what's next for the future of work, with innovation and partnerships that deliver game-changing business benefits. Our cloud communications solutions and multi-cloud application ecosystem power personalized, intelligent, and effortless customer and employee experiences to help achieve strategic ambitions and desired outcomes. Together, we are committed to help grow your business by delivering Experiences that Matter. Learn more at http://www.avaya.com.
About Journey
Journey’s award-winning Trusted Identity Platform simplifies the development of digital relationships between businesses and their customers. Based on patented Zero Knowledge™ Network technology, contact center agents, bots and other self-service applications can request, collect, verify and route customer data from a variety of biometrics to eSignatures, payments and other sensitive information without exposing customer data. The Identity Platform blends customer journeys across channels, eliminating the traditional tradeoff between fraud and friction while simultaneously solving for security, privacy and extraordinary customer experiences. Journey is led by well-known veterans from the contact center, security and networking industries. Learn more at www.journeyid.com
This document contains certain “forward-looking statements.” All statements other than statements of historical fact are “forward-looking” statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," “our vision,” "plan," "potential," "preliminary," "predict," "should," "will," or “would” or the negative thereof or other variations thereof or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. The factors are discussed in the Company’s Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) available at www.sec.gov, and may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The Company cautions you that the list of important factors included in the Company’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
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