CashEdge integrates Verid authentication technology

Source: Verid

Verid announced today its selection by CashEdge to integrate Knowledge Based Authentication (KBA) technology into CashEdge's online account opening and funding solutions.

The pioneer behind account opening and funding online, CashEdge will enhance the depth and quality of its risk management capabilities using Verid's industry-leading KBA process, already in use at eight of the top ten financial institutions.

"As the largest provider of online funds transfers and online account opening and funding, CashEdge is committed to providing a complete suite of risk management tools and delivering the most thorough functionality available in the market," explained Amir Sunderji, vice president of risk management at CashEdge. "We recognize the importance of KBA in verifying identities online, and view Verid's technology as a valuable addition to our risk management offering."

Verid's KBA technology presents consumers with a series of personalized questions based on deep background data derived from a variety of public information sources. The technology conducts sophisticated analytics to build a comprehensive knowledge profile and guides the consumer through an intuitive and interactive process until identity is confirmed. Verid's newest innovation is IdentityEvent, a significant new capability that will spot suspicious identity activity and ratchet up authentication security in real-time, before an identity theft actually takes place.

"Verid and CashEdge have a strong common interest and that is helping financial institutions do more with the online channel," said Kevin Watson, CEO of Verid. "Making our solutions work seamlessly together makes sense because it adds the option of KBA security to instant account opening and funding."

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