AuthenticID, a global leader in identity proofing and fraud prevention solutions, has been recognized as a Luminary in the Identity Verification (IDV) beam of the 2023 Biometric Digital Identity Prism.
The Biometric Digital Identity Prism, collaboration of Acuity Market Intelligence and FindBiometrics, is a market landscape framework. This research program and corresponding report aims to help influencers and decisionmakers understand, innovate, and implement digital identity technologies.
The Prism divides the biometric digital identity market into eight Beams: Identity Platform, Core Biometric Tech, Biometric ID Platform, Targeted Biometric Solutions, Identity Verification, Authentication, Web3, and Big Tech. Each beam is divided into three segments: Luminaries, Catalysts, and Pulsars.
AuthenticID and its platform were placed in the Luminary category based on factors including growth, market presence, proof points, unique positioning, strategy, proprietary technology, and the X-factor.
The report recognizes the continued challenge of digital identity fraud, noting:
In the identity industry we all know that fraud is an arms race, and recent innovations in artificial intelligence demand a proactive approach to Identity Verification. AuthenticID has integrated machine learning into its ID document verification and biometric platform to ensure it meets the challenge of today’s strongest identity threats.
As businesses continue to face greater challenges in an age of AI-enhanced identity fraud, AuthenticID’s commitment to 100% automated, machine learning-driven identity verification, accurate and fair identity across devices, and continued auditing and testing to stay ahead of bad actors have set its platform apart.
Businesses face increasing challenges in mitigating their risk, complying with regulations, and providing outstanding customer experience. In addition, fraud is rapidly becoming more sophisticated. Comprehensive, powerful identity verification solutions play a crucial role in early fraud detection as well as addressing security vulnerabilities that bad actors capitalize on including document manipulation, synthetic fraud, and incompatible data.
“We’re honored to be recognized as a Luminary in the Identity Verification beam of the Biometric Digital Identity Prism,” said Reed Taussig, AuthenticID CEO. “The Prism is a crucial, comprehensive view of an ecosystem that is constantly evolving and advancing. AuthenticID’s placement underscores our commitment to providing an innovative identity verification solution that our customers can trust to both outpace bad actors and deliver a seamless user experience.”
Learn more about how AuthenticID’s secure, 100% machine learning and computer vision-based solutions that help companies mitigate their fraud risk and offer seamless identity authentication for users by visiting www.authenticid.com.
About AuthenticID
AuthenticID is a pioneer in the Identity Proofing and Fraud Detection space. AuthenticID’s fully- automated solution protects identities and mitigates fraud without sacrificing user experience. Founded in 2001, AuthenticID has deep domain expertise in verifying government-issued identification documents with the market’s most powerful, next-generation, automated AI platform for fraud detection and identity verification. AuthenticID’s patented platform is used by the world’s leading financial services firms, wireless carriers, and identity verification platforms.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231018991580/en/
Contacts
Kristine Champion
VP of Marketing, AuthenticID
press@authenticid.com
