Building on the Onfido acquisition, Entrust can now combine AI-powered biometrics and global Identity Verification with Identity & Access Management in an integrated solution
Entrust, a global leader in trusted payments, identities, and data security, announced a single-vendor enhanced authentication solution that integrates identity verification (IDV) and identity and access management (IAM) to fight deepfakes, phishing, account takeover (ATO) attacks and other threats.
“By 2027, integration with identity verification for onboarding, credentialing & recovery will be a standard feature of access management tools, potentially reducing account takeover attacks against these processes by 75%.”
By enhancing Entrust Identity as a Service (IDaaS) platform with Onfido’s AI-powered document and biometric verification, customers will be able to deploy next-level identity authentication before allowing a privileged action or making a high-value transaction. This equips the IDaaS platform with a new layer of hardened security that resists identity fraud and phishing, secures digital interactions, and safeguards sensitive information.
Entrust was recognized in the 2023 Gartner Magic Quadrant for Access Management. In that report, Gartner predicted “By 2027, integration with identity verification for onboarding, credentialing & recovery will be a standard feature of access management tools, potentially reducing account takeover attacks against these processes by 75%.”
Browse more about Fintech Insights: Brand Safety and Mutual Trust: The Key to Building Financial Services Partnerships
“As physical and digital credentials merge, identity has become central to security. AI-driven threats, deepfakes, synthetic identities and ransomware gangs are driving a rising need for confidence in the identities of the people seeking to connect, access, and transact,” said Bhagwat Swaroop, President of Digital Security at Entrust. “That’s why identity-centric security is essential to making Zero Trust work. Entrust is the only provider that can integrate world-class IDV and IAM to enhance fraud prevention, reduce manual intervention, and improve the user experience.”
With the combined power of these solutions, organizations can:
- Securely and efficiently authenticate users and validate their identities in real-time to protect against fraud, phishing and other account takeover attacks – last year Onfido saw a 3000% increase in deepfake attempts, speaking to the critical need for identity verification.
- Seamlessly deploy IDV with ID and biometric checks as step-up authentication for employees or customers attempting a privileged action, such as a high value transaction, or being issued a passkey or phishing-resistant token.
- Help prevent lateral movement in the event of a breach by incorporating AI-driven facial biometrics and the IDV process enabled by risk-based adaptive authentication to enforce a higher level of assurance.
- Stay ahead of evolving deepfakes and cheapfakes.
The integrated solution is expected to be rolled out to customers in the coming months and will be demoed at the upcoming RSA Conference in San Francisco from 6 – 9 May 2024.
Entrust at RSAC 2024
As well as demoing the newly integrated IDaaS platform at its booth (#5361N), Entrust will also run a series of demos and presentations including:
- Fight Phishing: With credential compromise on the rise and involved in more than half of breaches, organizations need to implement an identity-centric security strategy
- Neutralize Deepfakes: As the advancements of deepfakes create a critical challenge to businesses in their onboarding process, learn how the strategic deployment of AI techniques can detect deepfakes, ensure accuracy, and enhance client verification
- Helping Ensure Compliance: Whether meeting regulatory standards, implementing Zero Trust, or preparing for post-quantum – make sure you’re on the right side of compliance
- Safeguard Your Data: As we explore the benefits of AI and confront the looming threat of post-quantum, digital security strategies should center around data now more than ever
This news comes as updated data from Onfido’s 2024 Identity Fraud Report reveals that in the last six months digital forgeries accounted for 34.8% of document fraud the company caught – nearly double the 16.7% seen in 2023 (and roughly 12 times the amount of digital forgeries seen in 2021). This data and more will be released in a new special edition of the Fraud Report for RSAC.
Latest Fintech Insights : Parametric Insurance: Revolutionizing Traditional Insurance Models
[To share your insights with us, please write to psen@martechseries.com ]
