Exclusively from Veratad, Smart 2FA℠ finally introduces two-factor authentication to customer onboarding. By combining the best of identity verification and two-factor, Smart 2FA delivers the highest level of surety that your customers are who they say they are.
Two-Factor Authentication for Customer Onboarding
There are any number of 2FA, 3FA and MFA solutions on the market. But these solutions all have one limitation in common: You can’t use them to onboard customers.
Smart 2FA is a new solution that introduces 2FA to the customer onboarding process by combining two-factor authentication with identity verification. This provides confidence that the person on the other end of the screen is who they say they are, with exactly the right amount of friction.
Smart 2FA in Action
Traditional authentication technology uses a number of different factors:
WHAT YOU KNOW
WHAT YOU HAVE
WHAT YOU ARE
WHERE YOU ARE
Unfortunately, none of these factors ensure that your customers really are who they say they are. Smart 2FA from Veratad solves this problem with two new authentication factors:
WHO YOU ARE
WHAT YOU OWN
Why Smart 2FA Works
Identity data and phone ownership records are incredibly difficult to impersonate. When used together, they help you establish trust with your customers and secure your systems in a way other solutions can’t match.
How Smart 2FA Works
Smart 2FA begins an authentication by conducting an identity check of the user using trusted identity databases and information supplied during onboarding. This allows you to verify identity, identify risk of criminal activities and run the name against government sanctions list.
Then the solution provider uses this data to verify that the phone number of the device belongs to the user.
From there, the technology runs the user through the standard 2FA process, sending a notification to complete the authentication on another device. The combination of these factors allows you to verify and authenticate a user at the highest confidence levels. With 2FA, you can be sure that:
THE PERSON EXISTS
THE PHONE NUMBER IS REAL
THE PHONE NUMBER IS REGISTERED TO THE PERSON
THE PERSON HAS POSSESSION OF THE DEVICE
Drive ‘Smart Friction’ into the User Experience
Smart 2FA provides a unique combination of user experience and surety. It delivers secure and confident authentications without requiring additional action from the user. It’s also easy to deploy with one API and one vendor. This raises the bar of system security without bothering the user with unnecessary friction.