LAS VEGAS, October 24, 2022 – Prove Identity, Inc. (“Prove”), the leader in digital identity, today announced the launch of Prove Auth™, a next-generation solution for passwordless login and omnichannel authentication.
Prove Auth enables enterprises to reduce reliance on passwords and one-time passcodes (OTPs) and empowers consumers to frictionlessly authenticate in all channels including phones, desktops and call centers with a solution that is simple, cost-effective, and secure. Prove Auth protects consumers from fraud including account takeovers.
Prove Auth is powered by Pinnacle™, Prove’s identity platform which manages identity tokens for 90% of the US adult population and is rapidly expanding globally. Prove’s identity tokens enable passive authentication with unparalleled accuracy versus legacy methods that are probabilistic and cumbersome.
With the launch of Prove Auth, Prove can now effectively provide its clients a frictionless and secure end-to-end digital customer journey when paired with Prove’s industry-leading identity verification and identity management solutions.
“Multi-factor authentication desperately needs to evolve, as one-time passcodes and passwords are cumbersome and vulnerable to social engineering and other fraud vectors. These legacy methods are costly to businesses and also create friction that negatively impacts the consumer experience. We are excited to add Prove Auth to our solution portfolio as our clients can now use Prove to establish and maintain high trust throughout the digital customer journey- from new account opening, to passwordless authentication and account servicing,” said Rodger Desai, Co-Founder and Chief Executive Officer at Prove.
A recent survey conducted by OnePoll on behalf of Prove discovered that 79% of US consumers have six or fewer go-to passwords across all of their online accounts, while 62% would abandon trying to log into an account after just three failed password attempts. The poll also found that 22% of respondents have been a victim of identity fraud, while an additional 36% knew someone who was a victim, further illustrating the need for passwordless identity authentication.
Prove’s solutions are used by more than 1,000 businesses globally across diversified industries, including 8 of the top 10 banks, 3 of the top 5 retailers, 2 of the top 3 cryptocurrency exchanges, 2 of the top 3 healthcare companies, and 6 of the top 10 insurance companies in the U.S.