Seattle, WA – In the ever-evolving landscape of identity verification and fraud prevention solutions, AuthenticID, a renowned global leader, has introduced the latest version of Smart ReAuth™. This innovative reauthentication solution, initially launched in 2021, now offers lightning-fast verifications in under one second, with seamless deployment capabilities.
The biometric-based approach of Smart ReAuth™ guarantees swift, precise, and secure identity verification processes. Upon enrollment, users undergo a comprehensive identity verification process to establish themselves as genuine, authenticated customers. Subsequently, users can effortlessly validate their identity for various purposes such as high-risk transactions, password resets, or simple login procedures. This flexibility enables businesses to validate customers or employees at any stage of their interaction, while thwarting potential fraudsters and account takeovers.
Businesses can leverage Smart ReAuth™ through various deployment options, with rapid integration via web services or seamless embedding into the client’s existing web or mobile workflows. The user-friendly merchant manager includes an intuitive admin console, providing a streamlined experience for both administrators and end-users. Moreover, Smart ReAuth™ is customizable based on specific risk thresholds and use cases, ensuring adaptability across different scenarios.
Emphasizing paramount importance on security and privacy, the Smart ReAuth™ platform incorporates cutting-edge features to counteract sophisticated fraud and spoofing attempts. By employing liveness detection and anti-fraud checks, Smart ReAuth™ verifies the presence of the individual and validates their claimed identity. Additionally, the platform ensures secure encryption storage, safeguarding user information within a separate, encrypted database in the AWS cluster, with personalized data retention policies promoting instant data deletion.
As evidenced in the 2024 State of Identity Fraud Report and the 2024 Mid-Year Identity Fraud Review, instances of identity fraud and data breaches have surged to unprecedented levels, impacting consumers and businesses alike. With cybercriminals continuously exploiting security vulnerabilities to gain unauthorized access to systems and sensitive information, concrete measures like Smart ReAuth™ are imperative for businesses to mitigate fraud losses, particularly against bad actors attempting multiple unauthorized entries.
Reflecting on this pressing need for heightened security, Alex Wong, AuthenticID’s VP of Product Management, underscores the pivotal role of biometrics in combating increasingly sophisticated identity fraud threats. He asserts that Smart ReAuth™ not only serves as a powerful anti-fraud tool but also enhances the customer experience, instilling confidence in fraud-wary users while eliminating cumbersome processes like Knowledge-Based Authentication (KBA) or passwords.
Smart ReAuth™ underscores AuthenticID’s commitment to advancing technology to proactively address evolving fraud tactics and regulatory compliance standards, all while delivering top-tier customer experiences. By offering fully automated verifications boasting over 99% counterfeit ID detection accuracy and 98% initial pass rates, Smart ReAuth™ caters to a wide array of consumer and workforce applications, including account takeover protection, workforce access management, and the integration of a Zero Trust Model.
To learn more about AuthenticID’s Smart ReAuth™ platform and request a demo, visit www.authenticid.com/products/smart-reauth. As a pioneering force in the Identity Verification and Fraud Detection realm, AuthenticID continues to revolutionize these domains with its cutting-edge, AI-powered solutions that uphold the highest standards of security, accuracy, and user experience. Founded in 2001, AuthenticID’s unparalleled expertise and patented technology have positioned it as a trusted partner for leading financial institutions, telecommunication companies, and identity verification platforms worldwide.