Early Warning Services, LLC and seven of the largest banks in the U.S. today introduce Authentify®, a new identity verification service for consumers and businesses. While on a participating business’ website or app, consumers can choose to be redirected to log into their online or mobile banking experience. The consumer can then share their bank-trusted data with that company, helping them streamline their identity verification process.
“A trusted identity is the key to safe, online transactions,” said Al Ko, CEO at Early Warning. “Authentify® gives companies and consumers the ability to leverage bank-trusted data to help provide even greater levels of identity assurance. Businesses are able to enhance their customers’ experience, while helping reduce friction, abandonment rates and operational costs.”
By offering Authentify®, companies can have greater confidence in their interactions with individuals online because the information is shared through a financial institution with the consumer’s consent, which creates benefits for all stakeholders:
- Businesses – Businesses using Authentify® may reduce abandonment and fraud rates, all while streamlining both mobile and desktop experiences.
- Financial Institutions – Authentify® engages banking customers with their brand while providing added value for their services outside of the banking experience.
- Consumers – Authentify® creates a secure way for consumers to share their trusted financial institution information while reducing errors when filling out forms. Consumers’ banking credentials are never shared with Authentify® or other companies.
DocuSign is the first of a growing list of companies that are turning to Authentify® for identity verification. Customers of DocuSign Identify, DocuSign’s identity framework for eSignature, will have the option to use Authentify® so signers can verify their identities by simply logging into their financial institution. The result is a fast, familiar experience for consumers, and an additional level of assurance for businesses.
“DocuSign is known for trust and ease of use. When a technology emerges that helps us further deliver on those qualities, we’re all over it,” said Jerome Levadoux, SVP of Sign, DocuSign. “We are proud to be the first to offer Authentify®. It’s a great new way for our U.S. customers to identify their signers and streamline their processes.”
For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News
