AuthentifyTM Strengthens its Telephone-Based Internet Authentication Services for Safer Online Transactions
New Releases of Authentify Products Heighten Internet Security While Lowering Costs of Online Transactions
CHICAGO, IL - September 18, 2001 - Authentify, Inc.TM, a leading provider of Internet identity solutions, today announced the release of Authentify|Register 2.0TM plus the introduction of two new products, Authentify|TransactTM and Authentify|Telephone Data ServicesTM.
Authentify|Register 2.0 is an automated authentication solution that enables organizations to perform real-time, two-factor user authentication during an Internet session via a standard Web browser and telephone line. During an Internet session, Authentify|Register places an automated, outbound telephone call to the user. Once connected, Authentify synchronizes the phone session with the web session, and can capture a voice recording to strengthen the audit trail.
Authentify has introduced Authentify|Transact as an automated transaction authorization tool. Authentify|Transact is a perfect application to verify the identity of a user during a transaction such as credit card payment processing, online banking transactions, and online trading to name a few. During the transaction, Authentify|Transact places a phone call to capture an exceedingly strong audit trail of the event.
Both Authentify|Register and Authentify|Transact provide stronger audit trails than "mail a pin" processes or data entry alone. This is accomplished by demonstrating control of a valid phone number and enabling interactive, out-of-band confirmation coupled to the transaction. As an automated service, the process is completed at a significantly lower cost than a live operator attempting to verify user information and without the risks of human error or social engineering.
Authentify|Telephone Data Services, or TDS, is a complementary add-on service to Authentify|Register or Authentify|Transact. Authentify accesses a series of third party databases, including Acxiom's InfoBase TeleSource, to complete a reverse lookup on the telephone number, and provide information regarding the provisionary characteristics and geographic location of a phone. TDS enables Authentify customers to appropriately manage the risks of establishing new relationships via the Internet.
"This is a unique marriage of the old and new," said Chris Christiansen, program vice president, Internet Infrastructure and Security Software at IDC. "I believe Authentify’s services are useful for all types of online transactions, including credit card confirmations, distribution of smart cards, digital certificate activations and password resets. They are offering a low cost alternative to doing these things manually."
Authentify’s new offerings have been well received in the market. AssureBuy, a leading provider of online trust, payment processing and proof services, is using Authentify|Register 2.0 to deter credit card fraud over the Internet.
"Whenever you have goods and services changing hands over the Internet, there’s always some concern over ensuring payment and avoiding fraudulent transactions," said B. Richard Johnson, President/CEO of AssureBuy. "By using Authentify, we believe we’ve added a significant deterrent to potential fraud, primarily because the audit trail is so strong."
Peter Tapling, president and CEO of Authentify believes the timing of the product enhancements and new releases could not be better. "When the economy slows down, you need to be as cost conscious as possible. Fraud losses go directly against the bottom line and have got to be minimized. Meanwhile, the costs associated with providing increased security must also be carefully managed. Employing the telephone in an automated process offers a great ROI for these types of applications. Authentify enables our customers to reduce fraud and cost with no infrastructure investment and relatively little up front cost."
Few technologies have been as reliable as the telephone. By leveraging the widely deployed telephone network in its own products, Authentify makes a higher level of online security practical for many businesses and helps increase user confidence in internet transactions.
Authentify, Inc. provides Internet identity management products and services that enable organizations to quickly and cost-effectively provide real-time user authentication during an Internet session. By leveraging the familiarity of telephone networks, Authentify ensures that deployment of e-Security is practical for business and easy for consumers. The company's patent-pending process seamlessly integrates into existing online processes that have been developed for e-business, secure information access and the distribution of security credentials. The Authentify solution provides a trusted, real-time mechanism for the management of digital credentials and username/password systems for employees, trading partners and customers, while also ensuring the availability of a comprehensive audit trail. Authentify is privately held and based in Chicago, Illinois. Visit Authentify on the Web at http://www.authentify.com, or call 773-243-0300.