November 17, 2020 | Veratad News
Veratad Advances Identity Verification Certainty with Smart Two-Factor Authentication Solution
Veratad Technologies, a worldwide provider of trusted age and identity solutions to financial, healthcare, retail and other businesses, is advancing traditional two-factor (2FA) identity verification through its new Smart 2FA℠ authentication solution. By joining the best of identity verification and two factor authentication (ownership of device and phone records/data), Veratad’s Smart 2FA solution delivers a truly high level of certainty that customers are who they say they are.
”Organizations that do business online needed a revolutionary way to secure account access and establish trust with users,” says John E. Ahrens, CEO, Veratad Technologies, LLC. “But traditional 2FA doesn’t verify identity. It just provides knowledge of a password and possession of a device. In comparison, Smart 2FA introduces two new authentication factors — ownership of the device and verification of identity through phone records and data.”
Smart 2FA begins a customer authentication by conducting an identity check using trusted identity databases and information supplied during onboarding. This allows companies to verify identity, identify risk of criminal activities and run the name against government sanctions lists. Then, Smart 2FA uses this data to verify that the phone number of the device belongs to the user.
With Smart 2FA, organizations can be sure that:
- The person exists
- The phone number is real
- The phone number is registered to that person
- The person has possession of the device
Easy to deploy with one API (application programming interface) and vendor, Smart 2FA raises the bar of account security by delivering secure and confident authentications without requiring additional action from the user.
About Veratad Technologies, LLC
Veratad Technologies, LLC is the leading provider of global age and identity solutions. Veratad makes high-end technology accessible with a full suite of trusted and highly flexible solutions. With Veratad, data, documents, out-of-wallet questions, mobile two-factor authentication and biometrics come together to solve the toughest identity problems. Privacy matters at Veratad. Our solutions verify age or identity in seconds while protecting sensitive personal data and promoting a high level of consumer privacy. Veratad’s goal is to keep our clients safe without losing focus on their goals of increasing profits, reducing costs, preventing fraud and enhancing compliance. For more information, visit https://veratad.com/.