Veratad Launches Smart 2FA
Veratad Technologies, a provider of age and identity solutions, has released Smart 2FA, joining identity verification and two-factor authentication (ownership of device and phone records/data) to ensure that customers are who they say they are.
"Organizations that do business online needed a revolutionary way to secure account access and establish trust with users," said John Ahrens, CEO of Veratad, in a statement. "But traditional 2FA doesn't verify identity. It just provides knowledge of a password and possession of a device. In comparison, Smart 2FA introduces two new authentication factors -- ownership of the device and verification of identity through phone records and data."
Smart 2FA begins a customer authentication by conducting an identity check using trusted identity databases and information supplied during onboarding. This allows companies to verify identity, identify risk of criminal activities, and run the name against government sanctions lists. Then, Smart 2FA uses this data to verify that the phone number of the device belongs to the user.
With Smart 2FA, organizations can be sure of the following conditions :
- The person exists;
- The phone number is real;
- The phone number is registered to that person; and
- The person has possession of the device.