Behavioral biometrics specialist UnifyID has entered into an agreement to be acquired by Prove, the provider of a “Phone-Centric Identity” platform designed to let organizations confirm the identities of their end users via their phone numbers.
An early pioneer of mobile-based behavioral biometrics technology, UnifyID has developed a highly accurate, passive authentication system that assesses a number of metrics including those related to the end user’s gait. In announcing the acquisition, Prove said that UnifyID’s system “is the only solution on the market that can definitively authenticate a person with a 1:1 match using a person’s behavior and movement,” adding that its technology will enable Prove to enhance its 2FA and MFA authentication strategies, and to reduce its reliance on One-Time Passcodes.
“High friction, low security authentication techniques like SMS OTPs will make way for secure, frictionless behavior-based and push-based authentication techniques,” explained Michael Lynch, Prove’s Chief Strategy Officer.
Prove’s leadership expect the integration of UnifyID’s technology will make their platform more appealing to customers in the financial services sector, where the company counts nine of America’s top 10 issuing banks as clients. The company also indicated that it expects the technology to help accelerate growth in the global technology and e-commerce industries.
Beyond the security and convenience of the UnifyID technology, Prove also highlighted its privacy benefits, noting that it does not rely on third-party data from vendors such as mobile network operators.
“UnifyID’s technology harnesses powerful behavioral and biometric signals from mobile phones which, coupled with Prove’s solutions, can enable a frictionless authentication experience that is simultaneously secure and convenient,” asserted Prove CEO Rodger Desai. “Businesses don’t need to compromise between the two anymore.”
The companies expect the acquisition to close early this month.
June 1, 2021 – by Alex Perala