Prove Identity and Experian Partner to Advance Global Financial Inclusion Through Next-Generation Identity Verification Technology
The digital identity leaders are joining forces
to enable more consumers across the globe, including underbanked
populations, to access safer, faster, and easier customer
experiences while also mitigating fraud
Experian, the leading global information services company, and
Prove Identity, Inc. (“Prove”), the leader in digital identity,
today announced a global partnership to further financial inclusion
across the globe through advanced identity verification technology.
The partnership, which is now live, has two goals:
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- To enable companies to extend their financial services to more
consumers, including traditionally underbanked populations such as
consumers who might not already have a credit file or substantive
data history, while also mitigating digital fraud such as synthetic
- To create wider access to faster, easier and more secure
experiences for more consumers. Traditionally, underbanked
populations have had to default to “slow lane” digital experiences.
Prove and Experian’s new partnership will extend “fast lane”
digital experiences to more consumers.
“At Prove, we believe that all consumers should have access to
the digital economy, regardless of whether you already have a
credit file or not,” said Rodger Desai, Co-Founder and Chief
Executive Officer at Prove. “We’re proud to be partnering with
Experian, which shares our vision for a more financially inclusive
digital world. Together, we are giving more companies across the
globe access to advanced identity technology, such as cryptographic
authentication, that they can use to verify more consumers in a
quick and secure manner.”
Prove is able to verify the identities of traditionally
underbanked populations such as those with “thin” or no credit
files. Prove’s identity verification and authentication solutions
leverage something nearly every adult consumer has – a mobile phone
– which helps businesses give more consumers access to services
regardless of whether or not they have an existing financial
history, further reducing consumer friction and bias.
As part of the partnership, Prove will integrate the following
solutions (can vary by region) into Experian CrossCore, a digital
identity and fraud risk mitigation platform that enables clients to
connect, access, and orchestrate customer decisions and actions
that leverage multiple data sources, verification and
authentication capabilities, and advanced analytics.
- Prove Pre-Fill®: Enables companies to onboard consumers in as
few as 10 seconds by auto-filling application forms with verified
data from authoritative sources, and authenticating consumer
identities to thwart account opening fraud. Global sanctions, PEPs,
adverse media, and monitoring included at no cost. Users will
benefit from a faster, easier, and more secure sign-up process,
where information is only auto-filled with their consent.
- Prove Identity™: Validates consumer-provided personal identity
information and confirms phone number ownership using authoritative
data, including device and phone number data, while maintaining
privacy for all customers.
- Trust Score™: A real-time measure of phone number reputation
that can be leveraged for identity verification and authentication
purposes. Trust Score analyzes behavioral and cryptographic
authentication signals from authoritative sources at the time of a
potential transaction to mitigate fraud such as SIM swap and other
account takeover schemes.
- Mobile Auth™: Provides a real-time authentication of the status
of a consumer on a mobile network by silently authenticating that
consumer while requiring no action on their part.
The partnership will give Experian CrossCore customers access to
these solutions, which may be integrated with Experian’s regional
fraud and identity offerings.
“The rapid surge in demand for digital services and the growth
of online accounts has accelerated the need for robust, real-time
identity verification solutions with the broadest coverage and
greatest inclusion,” said Marika Vilen, SVP of Global Identity
& Fraud at Experian. “Integrating Prove’s industry-leading
identity solutions with CrossCore and offering them as part of the
CrossCore partner program strengthens our state-of-the-art cloud
platform, identity verification, and fraud defense while also
enabling our customers to verify more consumers.”
About Prove Identity, Inc. (“Prove”)
As the world moves to a mobile-first economy, businesses need to
modernize how they acquire, engage with and enable consumers.
Prove’s phone-centric identity tokenization and passive
cryptographic authentication solutions reduce friction, enhance
security and privacy across all digital channels, and accelerate
revenues while reducing operating expenses and fraud losses. Over
1,000 enterprise customers use Prove’s platform to process 20
billion customer requests annually across industries, including
banking, lending, healthcare, gaming, crypto, e-commerce,
marketplaces, and payments. For the latest updates from Prove,
follow us on LinkedIn.
Experian is the world’s leading global information services
company. During life’s big moments – from buying a home or a car,
to sending a child to college, to growing a business by connecting
with new customers – we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organizations to prevent identity fraud and crime.
We have 20,600 people operating across 43 countries and every
day we’re investing in new technologies, talented people, and
innovation to help all our clients maximize every opportunity. We
are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content
hub at our global news blog for the latest news and insights from
version on businesswire.com: https://www.businesswire.com/news/home/20221025005357/en/
Prove PR Contact: firstname.lastname@example.org
Experian PR Contact: Scott Anderson
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