US: InAuth, Early Warning form strategic alliance for secure mobile payments

secure_mobileInAuth, the device authentication and intelligence experts for a mobile-first world, and Early Warning, a company working in real-time payments, authentication and risk mitigation, have formed a strategic alliance that will greatly enhance the security of real-time payment services within the mobile channel by leveraging the advanced device intelligence capabilities of InAuth’s InMobile™ solution.

Early Warning just announced Zelle, a new, faster payments network that will revolutionize how U.S. consumers and businesses send and receive money on October 24th at Money 20/20 in Las Vegas. Zelle is an inclusive network that is open to all banks and credit unions in the U.S. Zelle 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. Their 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.

“The movement of money and the demand for immediate availability in today’s mobile-first environment means mobile security must be iron-clad,” said InAuth CEO Lisa Stanton. “Early Warning has a longstanding reputation in the industry for developing and leveraging best-in-class technologies to protect organizations from fraud. We are very proud they chose to work with InAuth to provide a state-of-the-art mobile device security solution that combines mobile network and mobile device intelligence that drives trust in this channel. InMobile enables clients to make confident decisions about the riskiness of every device transaction. We look forward to being an integral part of Zelle and supporting Early Warning’s mission to create and deliver innovative payment and risk solutions.”

Early Warning’s Authentify® Platform, an industry leading mobile security suite, also offers organizations 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 that is unprecedented in the market. 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 finally be transferred when the mobile subscriber changes devices.

“As an organization firmly committed to providing next-generation technology to advance and protect the financial system and ensure all transactions are trusted, forming a strategic alliance with InAuth is a core component of delivering safety and soundness to real-time digital payments,” said Eric Woodward, group president of Risk Solutions for Early Warning. “Combining the Early Warning Mobile Authentifier with InAuth’s InMobile solution will enable us to more effectively identify billions of dollars in high-risk transactions each year. We look forward to working with InAuth in the months ahead.”

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Categories: Secure Transactions

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