InAuth, the device authentication and intelligence company, and Early Warning, the real-time payments, authentication and risk mitigation company, announced Tuesday (Nov. 1) a strategic alliance that will enhance the security of real-time payment services within the mobile channel by leveraging the advanced device intelligence capabilities of InAuth’s InMobile solution.
In a press release, the companies said Early Warning just announced Zelle, a new, faster payments network that will revolutionize how U.S. consumers and businesses send and receive money, on Oct. 24 at Money20/20 in Las Vegas. Zelle is an inclusive network that is open to all banks and credit unions in the U.S. It is one of the largest faster payments networks in the U.S., accessible to over 76 million mobile banking users nationwide. The network addresses security concerns, interoperability problems and delays in funds availability common in today’s P2P services.
InAuth’s InMobile solution is being used by some of the largest payments, banking, mobile wallets and eCommerce/mCommerce players as the contemporary way to authenticate and reduce risk in the digital world. The technology examines thousands of unique identifying attributes on mobile devices to create a permanent device ID that cannot be spoofed. Device interrogation enables InAuth to understand a device’s health and riskiness, which allows the mobile device to act as a trusted second factor of authentication in a manner that is frictionless for customers.
Early Warning’s Authentify Platform, a mobile security suite, also offers organization’s identity and device confidence that is frictionless for customers by leveraging the same SIM card-based network authentication that the mobile carriers use to secure their own services. By working with InAuth, Early Warning will be able to support a combined mobile network and mobile device intelligence solution. Cross-referencing device attributes with mobile network subscriber intelligence provides significant confidence in the trustworthiness of mobile transactions. Device attributes provide insight into how an individual uses their device, and with mobile network authentication, that usage intelligence can be transferred when the mobile subscriber changes devices.