AuthenticID’s fully automated platform recognized in growing Identity Verification market

AuthenticID, a global leader in identity proofing and fraud prevention solutions, has been named by Chartis Research as ‘Best of Breed’ in their new Identity Verification (IDV) Solutions 2023 report. The report analyzes the current IDV solutions landscape and examines market trends, regulatory drivers, and vendor strategies shaping it.

Chartis evaluated companies from across the globe in ten categories, including use case, biometrics, digital identity/footprint, other types of identity verification (IDV), speed and accuracy, data management framework, solution integration, and packaging and analytics.

Companies are then assessed for placement in various quadrants in its Chartis RiskTech Quadrant®. Chartis defines best-of-breed providers:

Best-of-breed providers have best-in-class point solutions and the ability to capture significant market share in their chosen markets. They are often distinguished by a growing client base, superior sales and marketing execution, and a clear strategy for sustainable, profitable growth. High performers also have a demonstrable track record of R&D investment, together with specific product or ‘go-to-market’ capabilities needed to deliver a competitive advantage. Focused functionality will often see best-of breed providers packaged together as part of a comprehensive enterprise risk technology architecture, co-existing with other solutions.

Businesses face increasing challenges in mitigating their risk, complying with regulations, and providing outstanding customer experience. In addition, fraud is rapidly becoming more sophisticated. Comprehensive, powerful identity verification solutions play a crucial role in early fraud detection as well as addressing security vulnerabilities that bad actors capitalize on including document manipulation, synthetic fraud, and incompatible data.

“We’re proud to be recognized as a Best-of-Breed Identity Verification provider,” commented Reed Taussig, AuthenticID CEO. “AuthenticID’s fully-automated, AI-driven solution is developed and continuously tested and improved to deliver businesses a solution that verifies identities in seconds with 99%+ accuracy in counterfeit detection. As fraud and regulations shift, AuthenticID’s platform will continue to not just meet the challenges, but exceed expectations.”

Learn more about how AuthenticID’s secure, 100% machine learning and computer vision-based solutions that help companies mitigate their fraud risk and offer seamless identity authentication for users by visiting www.authenticid.com.

About AuthenticID

AuthenticID is a pioneer in the Identity Proofing and Fraud Detection space. AuthenticID’s fully- automated solution protects identities and mitigates fraud without sacrificing user experience. Founded in 2001, AuthenticID has deep domain expertise in verifying government-issued identification documents with the market’s most powerful, next-generation, automated AI platform for fraud detection and identity verification. AuthenticID’s patented platform is used by the world’s leading financial services firms, wireless carriers, and identity verification platforms.

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