To prove, which offers an innovative way to prove its identity by requiring only a phone number, reveals to have integrated TransUnion‘s TruValidate identity verification solution in its product offering so that it can offer a new instant digital identity service in Hong Kong.
The launch of the new Numeric identity product in this new market is part of Prove’s continued business expansion – which includes its Telephone identity network. The company reports that its identity verification solutions are offered in 60 different countries.
Prove’s latest solution is expected to enable companies with an international presence to further expand their digital KYC, identity verification and authentication services to residents of Hong Kong. With such a level of mobile phone penetration, the city will be a strategic addition to Prove’s phone identity network, enabling customers to engage with an intuitive and more secure identity verification solution.
The integration of TransUnion’s TruValidate identity verification feature into Prove’s Hong Kong product offering should help businesses confidently create new accounts with customers in a digital environment.
The new solution can help businesses better secure customer journeys and help stop or prevent fraudulent activity before it actually takes place. With advanced machine learning algorithms, Prove aims to offer the right technology to ensure that the data is highly accurate and reliable.
Customers will also have the option to access Prove’s Possession, Reputation and Ownership (PRO) -based identity authentication features such as One-Time Access Codes, Secure Links, Trust Score â¢, behavioral biometrics and push authentication, to orchestrate end-to-end identity and fraud solutions leveraging Phone-Centric Identity â¢.
The expansion will also aim to complement Prove’s multi-factor authentication capabilities, currently supported in 195 different countries.
Prove’s Identity Verification and PRO â¢ solutions can help customers in finance, insurance, e-commerce and retail, healthcare, gaming and cryptocurrency with verification. ‘identity.
Some of the main use cases for the product include:
- Selection of account openings and customer integration
- Secure sensitive transactions with enhanced authentication measures
- Verify customer identity while reducing customer experience friction
- Meet PSD2 SCA, KYC, anti-money laundering (AML) and other regulatory requirements
Geoff miller, To prove‘s Global GM, said:
âAs the world becomes more and more digital, at Prove we are constantly thinking about how we can better serve our customers on a global scale. Our new offering in Hong Kong, which incorporates TransUnion’s identity verification capability, is another facet that underpins our overall strategy, and we are delighted to continuously innovate and bring the best solutions to our customers. – on a large scale, all over the world.
Jerry ying, Product Manager for TransUnion APAC, noted:
âIn an increasingly digital world, consumers expect businesses to be able to protect them and their transactions while maintaining practical experiences. By guaranteeing the identity of the customer, companies can build lasting relationships based on mutual trust.
Ravi Bijlani, SVP, International at Prove, noted:
âOur unique identity approach is creating a wave of enthusiasm, leading to new collaborations with major brands, where we have a positive impact on both fraud reduction and customer friction. This has led to 4x year-over-year growth and we look forward to inspiring not only financial services, but the gaming, crypto and retail markets as well. ”