Prove has introduced tools to help customers integrate its identity verification technology into their operations.
The company on Tuesday (July 16) announced its developer self-service platform along with an identity solution known as Prove Link SDK.
“As businesses exhaust huge amounts of resources to fight fraud and mitigate risk, they’re oftentimes doing so at the expense of the consumer experience,” Prove said in a news release provided to PYMNTS.
“Today’s consumers are inundated with an endless cycle of security measures online, saddling them with the responsibility of proving their identity, and ultimately leading them to abandon sign-ups, delay arduous onboarding and more. These so-called protective measures are grinding growth to a halt.”
The developer self-service platform, prove said, combats this problem by simplifying identity verification and authentication processes for businesses, offering real-time identity management throughout the lifecycle of customer identities, allowing for the highest pass rates with the lowest fraud rates.
With the Prove Link SDK, the company says it is meeting an increased demand for identity solutions for things ranging from purchasing concert tickets to hailing a ride: “separating the bots and fraudsters from the verified consumers enables businesses to create better, trusted experiences for their customers and grow their bottom lines.”
Also Wednesday, the company announced the hiring of two new executives. Catherine Porter, a veteran of companies such as Meta, OpenTable and LinkedIn, has been named chief business officer, while Eric Lesser joins Prove as chief financial officer after spending time with companies that include Sealed, YipitData, and Payoneer.
PYMNTS spoke earlier this year with Prove CEO Rodger Desai, who said that he himself has been targeted by scammers using artificial intelligence (AI) to commit identity fraud.
“Someone sent me a website where I put in a two-second clip of my voice … and it had me singing songs,” Desai said. “The technology’s becoming democratized quickly, and it’s pretty cheap.”
He told PYMNTS CEO Karen Webster that deepfakes present an increasing threat to business, adding that the phone needs to be the cornerstone of identity verification because it is often the device used to carry out fraud. A surge in business identity fraud requires a new approach to authenticating the person sending invoices, phoning in and even texting.
“The digital front doors of most businesses are not very secure,” said Desai.
