Most online services use password-based authentication. Passwords and SMS-based one-time-passcodes (OTPs) are the two most popular methods of digital authentication. Compromised passwords, however, are responsible for 80% of data breaches.
Forgotten passwords not only increase operational overheads but also lead to cart abandonment, resulting in lost revenue. Although OTPs solve some of these problems, they are highly vulnerable to the rising number of man-in-the-middle attacks and SIM swaps.
Leading US banks and FinTechs are driving millions in new revenue by leveraging multi-factor authentication and auto-filling onboardingforms securely with Prove Pre-fill™. Book a free demo today to learn more.
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