Next-gen Authentication Solutions
to Combat FinTech Security Challenges

The rising sophistication of cybercrime has made FinTechs more vulnerable to potentially-costly 2FA attacks, scams, and breach threats. This spike in threats has compelled FinTech leaders to replace their weak and vulnerable legacy authentication solutions with more robust verification systems that mitigate fraud risks without eroding the platform’s user experience.

authID replaces the conventional, clunky authentication systems with biometric-enabled, password-less and frictionless verification solutions, effectively helping FinTechs ward off threats posed by credential theft, phishing, and human error.

With built-in security and privacy-by-design approach, our authentication and verification solutions help you secure access to your FinTech platform’s sensitive information and applications without damaging the user experience you have worked so hard to build.

Our solutions are developed to integrate seamlessly with your existing stack and seal-off fraud entry points from your entire transaction process.

Rising Security Concerns in the FinTech Industry

The FinTech industry is one of the top targets of cybercriminals. The security breaches in this industry often result in devastating monetary and reputational losses for the victimized companies.

Relying on dated authentication systems is no longer an option. It has now become critical that your security solutions evolve with time and gain the sophistication that puts you ahead of your criminal adversaries. 

According to our research, 84% of FinTech and Banking leaders are likely to invest in IT security, including ID authentication in the future to replace their legacy authentication infrastructure that can no longer battle the challenges that modern FinTech comes up against. 

Top Security Challenges Facing the FinTech Industry

FinTech industries face an array of challenges that can hinder their growth and damage their revenue. These challenges include:

  • Users’ identity verification
  • Fraud
  • Data security. FinTechs have access to large volumes of personally identifiable information, and with weak security systems. Protecting this information is a tough challenge
  • Integration of tech-backed authentication solutions without adding friction to the user journey
  • Managing and minimizing the cost and incidence of fraud

authID’s FinTech Solutions

At authID, we have developed cutting-edge, frictionless authentication solutions to reinforce your defense against FinTech’s most common challenges.

  • Deploying Verified™, authID offers powerful biometric and AI-enabled solutions that eliminate frustrating passwords and vulnerable 2FAs while reinforcing your security. 
  • authID’s biometric facial recognition combines with futuristic liveness detection technology and provides unparalleled anti-spoofing and ID verification solutions. 
  • Our AI-powered algorithms run in the background, verifying, and authorizing your users’ identity silently, without adding friction to their journey. 
  • authID’s privacy-by-design solutions allow FinTech leaders to adopt a proactive approach to security. 
  • Using advanced biometric solutions, authID helps run detailed yet unintrusive ID checks during the onboarding/registration phase, ensuring fool-proof security at a point where FinTech platforms and applications are generally the most vulnerable.

authID’s FinTech Solutions Help You with:

  • Verification and prevention of account takeovers,
  • Prevention of unauthorized access to sensitive information,
  • Controlling cost and occurrence of fraudulent activities,
  • Replacement of inconvenient legacy authentication systems with modern, seamless verification solutions.

authID Industry Benefits

Powerful Authentication,
Seamless Experience

authID deploys cutting-edge technology that combines multi-modal biometrics with device verification and offers a seamless multifactor authentication experience that builds a secure environment while adhering to the PSD2 SCA requirements.

Your Shield Against
Imminent FinTech Threats

FinTech is surrounded by financial fraud and criminal threats. By eliminating passwords and other vulnerable authentication steps, authID offers solid and frictionless protection against the impending FinTech risks, such as phishing, account takeover, and credential stuffing.

Privacy-by-design Solutions

authID offers privacy-first solutions and proactively defends your systems from data breaches and information leaks. 

One-time Onboarding,
Smooth Journey

authID enables you to build a secure and smooth onboarding process and a frictionless customer journey. Using authID, users register just once through biometric authentication and then continue to access their digital accounts securely and easily from their trusted devices.

The authID Features

Top-notch Assurance

We offer technologically-advanced and secure biometric customer identification solutions, ensuring that you have peace of mind knowing each user is truly your trusted and authorized customer.

Prompt Integration

authID’s mobile SDK is built to integrate seamlessly with all major IAM providers, allowing you to deploy password-less authentication solutions within minutes.

Self-serve Account Recovery

Being an authID user, you don’t need to repeat KYC processes or call for additional support to reclaim your accounts. authID enables self-serve recovery that saves time and gives you more control over your systems.

Seamless Experiences
Across All Devices

authID features unparalleled consistency offering the same authentication experience across different devices, no matter what hardware or operating system the device manufacturer deploys—with no download requirements. Our solution is device agnostic and cloud-based.