Prestigious International Awards program recognizes outstanding financial technology products and companies
DENVER, May 4, 2023 (GLOBE NEWSWIRE) — authID [Nasdaq: AUID]a leading provider of biometric authentication solutions for secure identity, today announced that for the second year in a row the company has been selected as “Best ID Management Platform” in the annual FinTech Breakthrough Awards program conducted by FinTech breakthroughs, an independent market intelligence organization that recognizes the best companies, technologies and products in the global Fintech market today.
Once again recognized for its innovation in biometric identity authentication, the AuthID Verified™ platform continues to drive market adoption across the Fintech ecosystem with emerging banks, credit unions and Fintech SaaS providers. Verified seamlessly secures the Fintech user journey by establishing a trusted digital identity during onboarding, then binding the identity to provisioned FIDO2 keys for a phishing-resistant, frictionless solution. Verified eliminates account takeover and password compromise, authenticating users with a simple biometric selfie taken in seconds, in the browser of any smartphone, tablet or PC. With fast, passwordless authentication and anti-spoofing “liveness” verification, Verified protects the digital Fintech ecosystem from identity fraud.
“Cyberthieves continue to find phishing, credential stuffing attacks and account takeovers in Fintech very lucrative. In fact, a recent report found that 84% of financial institutions experienced account takeover, at a cost of up to 8% of revenue, says James Johnson, CEO, FinTech Breakthrough. “By replacing the risk, cost and hassle of passwords with authentication that cannot be phished, converging a trusted digital identity with device authentication, Verified authID is in a class of its own among identity providers. Congratulations to authID on a second consecutive award for “Best ID Management Platform”!”
Attracting more than 4,000 nominations, the FinTech Breakthrough Awards is the premier awards program founded to recognize Fintech innovators, leaders and visionaries from around the world.
“We are very happy to receive ‘Best ID Management Platform’ award for the second time from FinTech Breakthrough. Cyber attacks, identity fraud and account takeover drain Fintech resources and stagnate innovation, says Rhon Daguro, CEO of authID. “Verified mitigates the risk of rising fraud with faster, frictionless and accurate user identity solutions so Fintech organizations can focus on designing for the future.”
Over the past year, authID also secured several independent assessments of its technology, including the issuance of a US patent protecting Verified’s methodology that delivers a non-reputable biometric audit trail, a resource critical to combating fraud. The Verified platform also achieved ISO 27001:2013 Information Security Management System (ISMS) certification, and a perfect score in compliance with ISO 30107-3 level 2 for presentation attack detection, offering strong protection against spoofing attacks that have plagued other identity providers .
About authID® Inc.
At authID (Nasdaq: AUID), We Are Digital Identity®. authID provides secure identity verification and authentication through Verified™, an easy-to-integrate strong authentication platform. Verified combines document-based identity verification with strong FIDO2 passwordless device authentication and cloud biometrics to deliver cybersecurity for both workforce and consumer applications. Powered by sophisticated biometric and artificial intelligence technologies, authID establishes trusted digital identities, binds an identity to provisioned devices and eliminates the risk of passwords to deliver the faster, frictionless and accurate user identity solutions demanded by today’s digital ecosystem. For more information, visit www.authid.ai.
About FinTech Breakthrough
Portion of Technical breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership worldwide, the FinTech Breakthrough Awards program is dedicated to honoring excellence in financial technologies and services, companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including payments, personal finance, wealth management, fraud protection, banking, lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
authID media contact
Graham Arad
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