Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
iStock 1058694620 - Business Express

TMT Analysis launches Authenticate to streamline identity verification, protect from fraud, and boost customer experience

  • Mobile identity company TMT Analysis launches new product to provide added anti-fraud measures for organisations, protecting them from financial and reputational damage 
  • This product is the latest development in ‘silent authentication’, offering enhanced security and user experience without the need for users to enter One Time Passwords (OTPs) or leave apps to confirm device identity 
  • When coupled with TMT Verify, both products can effectively validate the identity of users 

TMT Analysis, one of the world’s leading mobile identity companies, has today launched its new solution – Authenticate – to offer enhanced device validation, more stringent anti-fraud measures and an improved customer journey. 

The solution works by using checks made in real time by the Mobile Network Operator, authenticating the device using data encoded securely on the device’s SIM card. This confirms that the phone number on the end of an internet connection with an organisation’s site is the same number as that organisation would expect it to be. This requires no user intervention and is a more secure and accurate method of device authentication.  

This new product is part of the emerging trend of ‘silent authentication’, which offers enhanced security and protection without requiring a customer to wait or leave an organisation’s website or app or enter an SMS One Time Password (OTP).  

The key benefits for companies using Authenticate include: 

Enhanced anti-fraud processes According to data, over half (51%*) of organisations experienced fraud in the past two years. Authenticate combats fraud by swiftly confirming an individual’s mobile device that they’re using in around half the time it takes using an OTP, which can also often be prone to fraud, phishing attacks and impersonation. Authenticate offers greatly increased security as it checks the device identity using the mobile operator’s digital certificate on the user’s SIM card (that no outside parties can access) and the authentication message goes directly to TMT Analysis, rather than the device itself so it is not susceptible to ‘man in the middle’ attacks, such as OTP interception.  

Accurate device confirmation–Streamlining the login process ensuring that devices are checked more accurately within a matter of seconds. Authenticate ensures it is not possible to fake which device a user is accessing an app or website from.  

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Improved customer journey – Without the need to implement OTPs or leave an app or website, Authenticate improves the user experience. This provides commercial advantages, as a company can then design their customer journeys to attract and retain customers by reducing cart or sign-up abandonment rates (which currently average 70%**). 

Fergal Parkinson, Director at TMT Analysis said: “As global security threats evolve, it’s vital that organisations implement the most effective anti-fraud measures possible. Authenticate provides companies with the holy trinity of security tools – faster and more secure authentication, eliminating fraud whilst simultaneously boosting user experience. This offers organisations across multiple industries a commercial edge in hugely competitive landscapes. 

“Authenticate requires zero customer input, keeping customers on an organisation’s website or app. By reducing this friction, organisations increase the chance of gaining and retaining a customer as there is no customer requirement to remember a password, wait for an SMS OTP, or download anything. This approach transforms the user experience but, just as importantly, also reduces the risk of customer abandonment, ultimately boosting sales.” 

A step by step guide to Authenticate 

Users log in online or enter an organisations’ app, and in the background, Authenticate will discover which network operator owns the account and re-direct the session to a specific URL where the operator can perform the authentication. When the device connects to the mobile network it is authenticated using encrypted data contained on the users’ SIM card. When the device is confirmed, the customer continues within the given website or app, with no disruption to the user journey. 

Authenticate builds on TMT Analysis’ current product suite – including its Verify offering – which blends several authoritative data sources, including data directly from Mobile Network Operators, to check whether a users’ number is real, active, and matches the personal information an organisation has for them, such as the name, address and date of birth.  

When coupled with TMT Verify, both products can work together and confirm an individuals’ identity. This is key in sectors such as adult content, where accurate verification is vital to adhere to regulation and protect minors, and for the gambling industry which received $127 million in fines from global regulators last year largely in relation to similar charges.

Recent Post: