Money Transfer
- Peer to peer and other networks are common platforms for fraud
- Established accounts get taken over and used for money laundering and fraudulent payments
- authID ensures that only legitimate users can access their accounts for transactions
The average fraud last year cost business $4.4M. Biometric authentication would help protect against it.
In our increasingly cashless society, even peer-to-peer transactions, small and large, are performed digitally through money transfer apps. Users establish and fund digital wallets that they use to transfer cash electronically, often to friends and family, putting themselves at risk.
Biometric Solution for Money Transfers
Those wallets are functions of the user accounts, which in turn are protected by user identities. And these identities can be spoofed by criminals who then raid those wallets. But authID can lock down that access by requiring biometric verification with each access request. Legitimate users provide their selfies through our frictionless interface to verify their true selves, locking out any imposters.
Money transfer platforms are increasingly common for small payments in a cashless society, but their ubiquitous nature makes them even more common targets for fraud.
Fintech
Banking - Consumer
Financial Services
Speed & Accuracy
Biometrics and liveness detection are irrefutable in determining proof of life, and when correlated with a physical ID, can authenticate users remotely and securely.
vs. 7 Seconds — 10x Faster Authentication Time
1 in 1 Billion
False Match Rate Accuracy
Zero
Biometrics Stored — Supports Global Compliance With Our New No-Biometric Storage Solution
Test Our Money Transfer With True Biometric Identity Proofing
Step 1
Set up a quick biometric demo or free trial in minutes.
Step 2
Test API calls, user experience, and the admin portal in the cloud or on-premise.
Step 3
Finalize your testing and agreement to go live.
authID Has Verified Over 1 Million Identities
The authID biometric verification stack is used by millions of users at some of the top fintech, financial services, medical and hospitality companies.
At ABM we are focused at elevating the client and team member experience through technology and data. We selected authID for its combination of security, seamless user experience, shared device support, and cost-effective delivery. Their innovative biometric authentication solutions offer the ultimate in passwordless security, accuracy, and speed.
Stephanie Franklin-Thomas, CISO
According to IBM Cost of a Data Breach Report - 2023
The average data breach in the US last year cost business $4.4M. Biometric verification would have helped stop it.
Set up a free 30-day trial today to help prevent a data breach!
According to IBM Cost of a Data Breach Report - 2023