Early Warning, a trusted leader in fraud prevention and risk management, announced today that it has signed a definitive agreement to acquire Authentify Inc.
Founded in 1999, Authentify is a worldwide leader in phone-based, multi-factor authentication solutions. It currently serves more than 1,200 financial institutions and e-commerce companies.
Upon closing, this acquisition will enable Early Warning to offer organizations digital multi-factor authentication and the ability to integrate, manage and prioritize multiple digital channel authentication methods, via one platform, reducing fraud and risk while improving the consumer experience.
With Early Warning’s announced acquisition of Authentify and its 2013 equity investment and exclusive agreement with Payfone, the company has created a differentiated digital channels authentication solution suite that augments its identity and payments solutions. This digital channels authentication solution suite offers the following benefits:
• Improves mobile security and reduces consumer friction by leveraging innovation in biometric and behavioral authentication;
• Strengthens authentication events, unlike usernames and passwords;
• Supports the integration, delivery, prioritization and management of current and future digital authentication technologies enabled by a Software Development Kit (SDK); and
• Offers a true, persistent identifier that is authenticated in real time, via Mobile Network Operators.
“As organizations strive to provide consumers with an online experience that is both seamless and secure, managing authentication factors and methods is crucial,” said Paul Finch, CEO of Early Warning. “With the acquisition of Authentify, Early Warning is well on its way to realizing its vision of providing both the powerful multi-faceted authentication needed today plus the advanced authentication needs of the future.”
Peter Tapling, CEO of Authentify, commented, “Guarding businesses and consumers from fraud is becoming more critical each day, and this acquisition represents two companies with a common objective uniting to reinforce that goal. Our customers have come to trust Authentify to better secure their online environments, and we are pleased to see their ability to authenticate with ease and accuracy only strengthened.”