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NewProduct

Speed onboarding, • KYC checks: Provides precise, data-driven ap-
proaches to KYC compliance at no additional cost to
thwart fraud companies while maintaining a frictionless customer
experience.

with advanced ID • Device agnostic: Works across mobile and digital
channels and a broad array of devices and applica-
tions for a true omnichannel experience.

• Trust score: Assesses current behavioral risk, while
preserving an individual's identity and their histori-
cal reputation.
• Fraud prevention: Weeds out bad actors and thwarts
common fraud methods, including synthetic identity
and true-name fraud.
rove Identity Inc., a global digital identity solu-
tion provider, created Prove Pre-Fill, stating it is
an innovative technology designed to accelerate In addition, Prove Pre-Fill won an Aite-Novarica Fraud &
P the onboarding process and minimize abandon- AML Impact Innovation Award in 2021 and was shortlisted
ment rates. The company added that the solution employs in 2023 for the Banking Tech Awards in the technology-of-
the-future category.
Prove's "PRO" methodology, which stands for:
Revenue-driven partnerships
• Possession: Confirms the customer has the phone in
their possession during a transaction. Prove representatives noted that ISOs can integrate Prove
digital onboarding and identity verification solutions into
• Reputation: Scans for anomalous behavior and other existing offerings to provide customers with a comprehen-
suspicious activity. sive solution that accelerates and improves the customer ex-

• Ownership: Links the phone number with the cor- perience while helping to dramatically reduce fraud.
rect individual.
The company noted that agents and sales channel part-
Tim Brown, global identity officer at Prove, mentioned that ners benefit from Prove's platform by offering their clients
Prove Pre-Fill can help B2B companies deliver fast, easy a reliable and secure way to verify identities and prevent
and secure verification. The solution, he noted, is designed fraudulent activities, and the platform leverages advanced
to enhance and streamline the overall integrity of business technologies such as biometric authentication, document
onboarding and verification. verification and identity verification data to accurately ver-
ify identities and detect fraudulent activities in real-time.
"Prove Pre-Fill addresses the internet's inherent lack of
identity infrastructure, using innovative mobile-phone Prove mentioned that its solutions help businesses reduce
technology to facilitate frictionless, secure identity verifica- fraud-related losses by minimizing manual review pro-
tion and authentication," he said. cesses and improving the customer experience, adding that
the Prove platform is scalable and customizable, which al-
Advanced, multilayered technology lows businesses to tailor the solution to their specific needs
and compliance requirements.
Brown also stated that Prove offers a holistic approach to
digital identity that has helped companies address "leaky Prove also noted that it provides comprehensive support
funnels" where customers are lost during the onboarding and training services to ISOs, merchant level salespeople
process, enabling partners to win back over $1.84 billion in and other sales channel partners to ensure seamless inte-
net new revenue. gration. The company invites payments industry profes-
sionals to partner with Prove Identity Inc. to strengthen
By auto-filling forms with verified consumer data, Prove their security posture, increase trust with customers and
Pre-Fill can reduce onboarding time by 79 percent and stay ahead of evolving fraud threats in the digital land-
abandonment rates by 35 percent, he pointed out, citing the scape.
following attributes of the platform:

• Digital identity tokens: Privacy-enhancing tokens Company: Prove Identity Inc.
can only be accessed after customers authenticate via Product: Prove Pre-Fill
encrypted SIM cards.
Website: https://prove.com/
• PRO methodology: Confirms customer possession, Contact: https://prove.com/contact
reputation and ownership.

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