The Genius and Tragedy of FaceID
Let’s face it…passwords cause problems. One Time Passwords (OTP) & Knowledge-Based Authentication (KBA) questions used for account recovery and authentication frustrate and annoy your customers. They also pose a security risk and can be easily defeated by bad actors. Password resets cost the typical enterpr
Ipsidy changes its name to authID.ai, taps cloud computing veteran Tom Thimot as new CEO
Ipsidy Inc (OTCQB:IDTY) CEO Tom Thimot tells Proactive the group has changed its name to authID.ai, whilst it undergoes a major rebrand, bringing in new executive leadership and moving its headquarters to Denver. Thimot, the former CEO of private predictive analytics firm Socure, is taking on the same role at authID.ai
Proactive Investors: authID’s biometric identity verification services to be integrated into BPSmart’s chatbot platform
authID.ai (OTCQB:IDTY) CEO Phil Kumnick tells Proactive that AI company BPSmart will deploy authID‘s biometric identity verification services to verify each customer’s identity when interacting with BPSmart’s AI-powered, chat-based Digital Assistant Platform. Kumnick says because BPSmart’s customers
Proactive Investors: authID reports slimmer 1Q loss, recaps busy quarter in financial update
authID.ai (OTCQB:IDTY), the company delivering a suite of biometric identity verification solutions, has announced its first-quarter results, revealing a net loss that narrowed 34% year-over-year. Revenue for the three months ended March 31 was $600,000, compared to $800,000 in the same period of 2020. Net loss was $2.
Digital Banking Goes Passwordless
The accelerated growth of digital financial services, especially during the COVID-19 pandemic, has challenged banks and financial technology (“fintech”) firms to provide a seamless and secure method of authenticating the identity of their customers. Fintech and banks must ensure that only legitimate clients can tra
The Need for More Secure Healthcare Worker Authentication
Electronic health record (EHR) systems have streamlined medical practice workflows, enabling clinicians and other medical staff to coordinate and facilitate healthcare processes such as prescribing medications. Through EHR systems, prescriptions can be generated and transmitted directly to the patient’s preferred pha
The Need for Trusted Age Verification For Cannabis Sales
The move to legalize cannabis in the United States has rapidly progressed in recent years. In the last year, Arizona, Montana, New Jersey, New York, and South Dakota legalized the sale of cannabis for recreational adult use, with South Dakota and Mississippi also approving medical-use initiatives. Currently, sixteen st
The Need for Identity Certainty in Travel in a Post-COVID World
The travel and shared living industries are among the hardest-hit sectors of the economy during the COVID-19 pandemic. Travel restrictions, physical distancing mandates, and social gathering limitations reduced in-person operations, forcing airlines, hotels, and room sharing providers to run at limited capacity, or clo
authID to Provide On The Fly POS With its Identify Fraud Prevention Services
authID (OTCQB:IDTY) CEO Phil Kumnick tells Proactive it will deploy passwordless login and transaction authorization for On The Fly POS, a US provider of cloud-based payment solutions. Kumnick says On The Fly POS, a subsidiary of The POS Lab, chose authID’s IDaaS platform to enhance the security and operational
Online Entertainment & Streaming Services Seek Stronger Identity Authentication
Video and audio streaming platforms have been on the rise since before the COVID-19 outbreak. They enable legal access to various media content with greater viewer convenience. Similarly, the online gaming industry has increased its user base, especially with the increasing popularity of mobile versions of computer gam
Sharing Economy & the Need for Identity Verification
Share-based businesses have grown rapidly over recent years, with many analysts expecting this market to continue booming. According to Statista, the global sharing economy’s value is forecasted to reach $335 billion by 2025, from $15 billion in 2014. Moreover, PwC estimates a similar figure, indicating a 2,133
Ready to Travel? Health Passports Will Make It Possible
The travel industry is one of the hardest-hit sectors of the economy during the COVID-19 pandemic, with air travel suffering the biggest falls. According to the US Travel Association, international travel spending in the United States decreased by 76% in 2020, while domestic travel expenses declined by 34%. Meanwhile,
