Intellicheck Collaborates with Ipsidy to Offer Comprehensive Solution To Spiraling Account Takeover Fraud
Intellicheck announced a collaborative agreement with Ipsidy to offer an enhanced suite of comprehensive real-time facial biometric identity proofing and multi-factor authentication solutions for the North American market.
Under the new agreement, the companies can now offer expanded authentication with greater than 99% accuracy for any person-not-present transaction, whether on the web or in a mobile application. By combining Intellicheck’s industry leading remote ID authentication with Ipsidy’s best in class facial liveness and biometric matching services, clients will confidently know whether or not the person they are remotely dealing with is who they say they are.
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Intellicheck CEO Bryan Lewis said, “Account takeover incidents jumped 74 percent in 2019 at a significant cost to consumers and merchants. The need to prevent identity theft and fraud will continue to grow and intensify. This new product offering is an effective and efficient answer to the surging incidents of account takeovers throughout North America.”
Lewis noted that, “Authentication and verification must be top of mind across the lifetime of an account. To protect the business and consumer, you must first establish that the consumer opening an account has a valid form of government issued ID and then through facial biometric matching confirm that the consumer is in control of that ID. But account opening ID authentication is just the first step. There is an ongoing need to protect the business and the legitimate account holder from fraudulent account takeovers. Every request that could signal account takeover must be authenticated to prevent fraudsters from inflicting costly damage. This partnership provides multiple tools to do so.”
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Ipsidy CEO Phillip Kumnick said, “Everything starts with trusted identity. Our identity platform delivers a suite of services that help our customers quickly and accurately establish this foundation of trust. Intellicheck is well known for their leadership in providing real-time ID authentication. This agreement brings together both service offerings to effectively deter identity fraud and account takeover in today’s digital world.”
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