AuthenticID Unveils Enhanced Smart ReAuth™ for Instant Biometric Reauthentication

PRESS RELEASE

SEATTLE, WA – August 28, 2024 – AuthenticID, a global leader in identity verification and fraud prevention solutions, announced the newest release of Smart ReAuth™. Smart ReAuth™ is a reauthentication solution that leverages a selfie to re-confirm an identity. First released in 2021, this enhanced version offers verifications in less than one second, with rapid deployment.

 Smart ReAuth™’s biometric-based approach ensures fast, accurate and secure identity verification. During enrollment, users pass through a full identity verification transaction to verify them as a good, authenticated customer. Moving forward, the users can more seamlessly prove their identity for use cases like high-risk or high-dollar value transactions, to reset a password or simply log into an application. This allows businesses to confidently verify customers or employees at any point in their journey, while blocking fraudsters and account takeovers (ATO).

For businesses, Smart ReAuth™ offers flexible deployment options.  It can be rapidly deployed via a web service or seamlessly embedded into a client’s own web or mobile workflow. The intuitive merchant manager offers a user-friendly admin console and a seamless experience for users. Smart ReAuth can be customizable based on specific use cases and risk tolerance. 

Security and privacy are paramount with the Smart ReAuth™ platform. Even previously verified identities can be compromised by sophisticated fraud and spoofing attempts. With liveness detection and anti-fraud checks, Smart ReAuth™ confirms the person is present and is who they claim to be. The platform also offers secure encryption storage: once a user is reverified, their information is stored in a separate, secured, and encrypted database within the AWS cluster with custom data retention policies allowing instant data deletion.

As documented in both the 2024 State of Identity Fraud Report and the 2024 Mid-Year Identity Fraud Review, both identity fraud attempts as well as data breaches are at record highs, impacting both consumers and businesses amidst surges in fraud. Bad actors are constantly finding new security loopholes to exploit, allowing them access to systems and sensitive data. Because stopping fraud is an ongoing process, additional security measures like Smart ReAuth™ are now a necessary tool for businesses to reduce fraud loss, especially for bad actors who attempt to access systems or data on multiple attempts.

“Businesses are constantly trying to balance both security and customer experience, but with the increase in sophisticated identity fraud threats, businesses need the enhanced security that biometrics offers” noted Alex Wong, AuthenticID VP of Product Management. “Smart ReAuth™ was developed to ensure that this solution isn’t just a powerful tool to fight fraud, but also improves the customer experience, giving fraud-weary customers peace of mind while eliminating the need for cumbersome processes like KBA or passwords.”

Smart ReAuth™ is part of AuthenticID’s comprehensive identity verification technology suite that offers fully automated verifications with over 99% accuracy in detecting counterfeit IDs, and 98% first-time pass rates. Smart ReAuth™ can be used in both consumer and workforce use cases including but not limited to:

AuthenticID will continue to drive innovation forward in its technology to ensure companies can stay ahead of changing fraud techniques and regulatory requirements while delivering best-in-class customer experience.

For more information on AuthenticID’s Smart ReAuth™ platform and to request a demo, visit www.authenticid.com/products/smart-reauth. 

About AuthenticID

AuthenticID is a pioneer in the Identity Verification and Fraud Detection space. AuthenticID’s fully- automated solution protects identities and mitigates fraud without sacrificing user experience. Founded in 2001, AuthenticID has deep domain expertise in verifying government-issued identification documents with the market’s most powerful, next-generation, automated AI platform for fraud detection and identity verification. AuthenticID’s patented platform is used by the world’s leading financial services firms, wireless carriers, and identity verification platforms