authID Selected by U.S. Payment Platform to Prevent Identity Fraud
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
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Should l Buy AUID?
authID announced that a U.S. point-of-sale lending and payment financing platform has selected authID to protect its merchant onboarding, consumer origination, and account access workflows from escalating identity fraud. The selection of authID underscores growing momentum for biometric identity assurance in consumer finance, as fintech platforms confront rising identity fraud, organized fraud rings, and account takeover attacks that traditional verification tools fail to stop. "This client represents the next generation of fintech platforms that recognize identity as the foundation of trust," said Rhon Daguro, CEO of authID. "By integrating biometric verification and authentication directly into their origination workflows, they are eliminating assumptions about who is behind the device, while delivering a fast, frictionless experience that works for every customer."
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About AUID
authID Inc. is a provider of biometric identity verification and authentication solutions. The Company enables enterprises Know Who’s Behind the Device for every customer or employee login and transaction. Through its integrated, patented, biometric identity platform, the Company verifies a user’s identity, eliminating any assumption of who is behind a device and preventing cybercriminals from taking over accounts. The Company combines digital onboarding, biometric passwordless authentication and account recovery, with a fast, accurate, user-friendly experience delivering identity verification in 700ms. Its cloud-based platform offers services such as Biometric Identity Verification-Proof, Biometric Identity Authentication-Verified, PrivacyKey Privacy Preserving Biometrics, and Account/Access Recovery. Biometric identity verification establishes the trusted identity of users based on a variety of ground truth sources, including government-issued identity documents.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
authID Secures Global Retailer Contract for Identity Verification
- Customer Contract Win: authID has secured a partnership with a global personal care retailer generating over $6 billion in annual sales, leveraging its biometric identity verification technology alongside MajorKey's identity security solutions to enhance employee and contractor identity verification and secure corporate IT systems.
- Combating Hiring Fraud: Amid the rise of AI-generated fake identities, authID's solution significantly mitigates the risk of hiring fraud by real-time blocking of impersonation attacks, combining selfie and document verification to protect sensitive system access.
- Efficient User Experience: The solution delivers fast and accurate identity verification, optimizing user experience and ensuring enterprises can efficiently verify remote candidates during hiring and onboarding processes, thereby reducing exposure to impersonation and AI-driven hiring fraud.
- Market Expansion Potential: With the global digital authentication market projected to exceed $20 billion by 2032, authID further solidifies its market position in the retail sector through this partnership, demonstrating its critical role in modern hiring and access workflows.
See More
authID Secures Global Retailer Contract for Identity Verification Solutions
- Customer Contract Win: authID has secured a partnership with a global personal care retailer generating over $6 billion in annual sales, leveraging its biometric identity verification technology to ensure the security of employee and contractor identities, thereby enhancing corporate IT system security and compliance.
- Fraud Prevention: In light of the increasing prevalence of AI-generated impostors, authID's solution significantly mitigates potential losses from hiring fraud, with U.S. businesses estimated to lose up to $600 billion annually due to resume fraud, showcasing the critical need for robust identity verification.
- Integration Advantages: The retailer will implement the combined authID and MajorKey solution, ensuring seamless integration with existing Microsoft Entra and CyberArk platforms, which enhances user experience and optimizes the identity verification process for efficient remote candidate verification.
- Expanding Market Potential: As reliance on remote resources increases in the post-COVID era, authID is broadening its market presence in the retail sector, with the global digital authentication market projected to grow from $20 billion to even higher levels by 2032, further solidifying its leadership in the identity verification space.
See More
AuthID Inc. Integrates with ServiceNow to Enhance Secure Caller Verification
- Integration for Verification: AuthID's integration with ServiceNow enables secure identity verification and authentication for contact centers, helping to protect accounts, reduce fraud, and enhance trust across consumer and workforce identity use cases.
- Product Connectivity: The integration allows AuthID's Proof, Verified, and PrivacyKey products to connect with ServiceNow through UI Actions, enabling contact center agents to send SMS or email prompts for identity verification before making account changes or completing high-risk transactions.
- Global Availability: This integration is available to ServiceNow-powered contact centers globally, highlighting AuthID's strategic significance as a Build Partner in the ServiceNow Partner Program, aimed at enhancing market competitiveness.
- Price Volatility Analysis: Although AuthID's shares are trading 52.9% above the 20-day simple moving average, the stock has decreased by 71.26% over the past 12 months, currently priced at $1.40, indicating long-term momentum struggles and potential market volatility risks.
See More
authID Inc. Partners with ServiceNow to Enhance Identity Verification Across 8,400 Contact Centers
- Collaboration Background: authID's partnership with ServiceNow aims to enhance identity verification across 8,400 contact centers, covering 85% of Fortune 500 companies, significantly improving security against rising fraud risks.
- Technology Integration: As a ServiceNow Build Partner, authID connects its biometric tools with ServiceNow's contact center platform, enabling agents to verify callers via SMS or email prompts, thereby reducing account takeover risks.
- Audit Capability: The integration can log authentication outcomes in ServiceNow, providing audit evidence that confirms any account access or modification was initiated by a legitimate user, thus enhancing operational transparency and security.
- Accelerating Business Transformation: authID CEO Rhon Daguro stated that enhanced digital identity verification not only protects user accounts but also improves customer experience, helping organizations mitigate operational risks amid frequent fraud attacks.
See More
Goldman Sachs Reports Q4 Earnings of $14.01 Per Share, Beating Estimates
- Goldman Sachs Earnings Highlight: The Goldman Sachs Group, Inc. (NYSE:GS) reported Q4 earnings of $14.01 per share, exceeding analyst expectations of $11.65, indicating strong profitability despite quarterly sales of $13.454 billion missing the $13.791 billion forecast, reflecting market demand fluctuations.
- Market Performance Recovery: The Dow Jones index rose approximately 200 points, up 0.41%, while the NASDAQ surged 0.78% and the S&P 500 gained 0.55%, indicating investor optimism about market prospects, particularly following Goldman Sachs' earnings report, which may further boost market confidence.
- Strong Tech Sector Performance: Information technology stocks gained 1.4% on Thursday, highlighting the sector's significance in the economic recovery and potentially attracting more investor attention towards the long-term growth potential of tech stocks.
- Initial Jobless Claims Decline: U.S. initial jobless claims fell by 9,000 to 198,000, below market expectations of 215,000, demonstrating labor market resilience that could support economic growth and further enhance investor confidence in the stock market.
See More
authID Partners with TurboCheck to Enhance Hiring Security Against Fraud
- Client Partnership Expansion: authID's collaboration with one of the world's largest workforce solutions providers, utilizing TurboCheck technology to safeguard hiring and daily operations, underscores authID's leadership in workforce verification and is expected to significantly reduce hiring fraud risks.
- Growing Market Demand: According to Gartner, by 2028, one in four job candidates will be fake, and authID's solutions will help companies address this escalating threat, thereby protecting sensitive data and corporate reputation.
- Innovative Technology Application: TurboCheck's fraud detection tools, combined with authID's biometric verification, provide real-time candidate validation and identity confirmation, ensuring the security of the hiring process and enhancing corporate recruitment efficiency and trust.
- Increased Industry Impact: As remote work becomes widespread, authID's technological solutions will offer stronger security assurances for the hiring industry, helping companies maintain a competitive edge and reduce legal risks in the face of AI-generated false identities.
See More
authID Secures Global Retailer Contract for Identity Verification
- Customer Contract Win: authID has secured a partnership with a global personal care retailer generating over $6 billion in annual sales, leveraging its biometric identity verification technology alongside MajorKey's identity security solutions to enhance employee and contractor identity verification and secure corporate IT systems.
- Combating Hiring Fraud: Amid the rise of AI-generated fake identities, authID's solution significantly mitigates the risk of hiring fraud by real-time blocking of impersonation attacks, combining selfie and document verification to protect sensitive system access.
- Efficient User Experience: The solution delivers fast and accurate identity verification, optimizing user experience and ensuring enterprises can efficiently verify remote candidates during hiring and onboarding processes, thereby reducing exposure to impersonation and AI-driven hiring fraud.
- Market Expansion Potential: With the global digital authentication market projected to exceed $20 billion by 2032, authID further solidifies its market position in the retail sector through this partnership, demonstrating its critical role in modern hiring and access workflows.
See More
authID Secures Global Retailer Contract for Identity Verification Solutions
- Customer Contract Win: authID has secured a partnership with a global personal care retailer generating over $6 billion in annual sales, leveraging its biometric identity verification technology to ensure the security of employee and contractor identities, thereby enhancing corporate IT system security and compliance.
- Fraud Prevention: In light of the increasing prevalence of AI-generated impostors, authID's solution significantly mitigates potential losses from hiring fraud, with U.S. businesses estimated to lose up to $600 billion annually due to resume fraud, showcasing the critical need for robust identity verification.
- Integration Advantages: The retailer will implement the combined authID and MajorKey solution, ensuring seamless integration with existing Microsoft Entra and CyberArk platforms, which enhances user experience and optimizes the identity verification process for efficient remote candidate verification.
- Expanding Market Potential: As reliance on remote resources increases in the post-COVID era, authID is broadening its market presence in the retail sector, with the global digital authentication market projected to grow from $20 billion to even higher levels by 2032, further solidifying its leadership in the identity verification space.
See More
AuthID Inc. Integrates with ServiceNow to Enhance Secure Caller Verification
- Integration for Verification: AuthID's integration with ServiceNow enables secure identity verification and authentication for contact centers, helping to protect accounts, reduce fraud, and enhance trust across consumer and workforce identity use cases.
- Product Connectivity: The integration allows AuthID's Proof, Verified, and PrivacyKey products to connect with ServiceNow through UI Actions, enabling contact center agents to send SMS or email prompts for identity verification before making account changes or completing high-risk transactions.
- Global Availability: This integration is available to ServiceNow-powered contact centers globally, highlighting AuthID's strategic significance as a Build Partner in the ServiceNow Partner Program, aimed at enhancing market competitiveness.
- Price Volatility Analysis: Although AuthID's shares are trading 52.9% above the 20-day simple moving average, the stock has decreased by 71.26% over the past 12 months, currently priced at $1.40, indicating long-term momentum struggles and potential market volatility risks.
See More
authID Inc. Partners with ServiceNow to Enhance Identity Verification Across 8,400 Contact Centers
- Collaboration Background: authID's partnership with ServiceNow aims to enhance identity verification across 8,400 contact centers, covering 85% of Fortune 500 companies, significantly improving security against rising fraud risks.
- Technology Integration: As a ServiceNow Build Partner, authID connects its biometric tools with ServiceNow's contact center platform, enabling agents to verify callers via SMS or email prompts, thereby reducing account takeover risks.
- Audit Capability: The integration can log authentication outcomes in ServiceNow, providing audit evidence that confirms any account access or modification was initiated by a legitimate user, thus enhancing operational transparency and security.
- Accelerating Business Transformation: authID CEO Rhon Daguro stated that enhanced digital identity verification not only protects user accounts but also improves customer experience, helping organizations mitigate operational risks amid frequent fraud attacks.
See More
Goldman Sachs Reports Q4 Earnings of $14.01 Per Share, Beating Estimates
- Goldman Sachs Earnings Highlight: The Goldman Sachs Group, Inc. (NYSE:GS) reported Q4 earnings of $14.01 per share, exceeding analyst expectations of $11.65, indicating strong profitability despite quarterly sales of $13.454 billion missing the $13.791 billion forecast, reflecting market demand fluctuations.
- Market Performance Recovery: The Dow Jones index rose approximately 200 points, up 0.41%, while the NASDAQ surged 0.78% and the S&P 500 gained 0.55%, indicating investor optimism about market prospects, particularly following Goldman Sachs' earnings report, which may further boost market confidence.
- Strong Tech Sector Performance: Information technology stocks gained 1.4% on Thursday, highlighting the sector's significance in the economic recovery and potentially attracting more investor attention towards the long-term growth potential of tech stocks.
- Initial Jobless Claims Decline: U.S. initial jobless claims fell by 9,000 to 198,000, below market expectations of 215,000, demonstrating labor market resilience that could support economic growth and further enhance investor confidence in the stock market.
See More
authID Partners with TurboCheck to Enhance Hiring Security Against Fraud
- Client Partnership Expansion: authID's collaboration with one of the world's largest workforce solutions providers, utilizing TurboCheck technology to safeguard hiring and daily operations, underscores authID's leadership in workforce verification and is expected to significantly reduce hiring fraud risks.
- Growing Market Demand: According to Gartner, by 2028, one in four job candidates will be fake, and authID's solutions will help companies address this escalating threat, thereby protecting sensitive data and corporate reputation.
- Innovative Technology Application: TurboCheck's fraud detection tools, combined with authID's biometric verification, provide real-time candidate validation and identity confirmation, ensuring the security of the hiring process and enhancing corporate recruitment efficiency and trust.
- Increased Industry Impact: As remote work becomes widespread, authID's technological solutions will offer stronger security assurances for the hiring industry, helping companies maintain a competitive edge and reduce legal risks in the face of AI-generated false identities.
See More
