"While the financial sector is progressive in embracing new technologies to stop fraudsters cold, other industry sectors - such as the health insurance industry - need to seriously re-evaluate," said AuthenticID CEO Blair Cohen.
Atlanta, GA (PRWEB) February 17, 2015
AuthenticID, a leading technology company specializing in identity authentication solutions, today announced they have been named a winner in the 2015 DEMOvation Challenge. The competition, a component of Bank Innovation 2015, invites FinTech startups to submit entries and winners are chosen by a select panel of industry judges. A winner is deemed to possess unique intellectual property, business models or is differentiated from other FinTech startups. AuthenticID will demo in front of an audience of banking professionals at Bank Innovation 2015 on March 2 in Seattle.
“We are extremely pleased to be named a winner in the 2015 DEMOvation Challenge and we’re excited to present to innovative bankers and FinTech enthusiasts at the Seattle event on March 2,” said AuthenticID CEO Blair Cohen. “A better way is needed in banking, and other industry sectors, to prove identity using factors of authentication that a hacker can’t acquire. While the financial sector is progressive in embracing new technologies to stop fraudsters cold, other industry sectors - such as the health insurance industry - need to seriously re-evaluate. The recent cyber attack on health insurer Anthem – the largest ever in the healthcare industry – shows the process is broken. If other industries were to follow the lead of the banking and financial services industry - and add an additional biometric such as our facial recognition technology - any stolen data would be completely useless,” concluded Cohen.
AuthenticID’s technology is used by brick and mortar and online businesses around the world. They are a proven identity proofing market leader utilizing tools which provide superior accuracy, improve processes, customer service and regulatory compliance for financial institutions, telecoms or any other business that is required to develop a Know Your Customer/Customer Identification Program (KYC/CIP). AuthenticID provides the only 100% accurate identity proofing tools.
The company’s newest product, CatfishAIR, includes AFDA technology that forensically examines identity documents and reliably detects counterfeit and tampered with ID’s in an automated fashion. CatfishAIR’s fast and accurate facial recognition engine closes the loop by comparing the headshot on the ID with a selfie with built-in liveness detection of the customer behind the transaction. AuthenticID’s online service provides two factor assurances to their clients, making them the fastest and most accurate identity authentication service in the world today.
Visit http://authenticid.co/ for more information or call 855-825-4343, ext. 101 to request a demo.
Ria Romano, Partner
RPR Public Relations, Inc.