Centific partners with Prove Identity

As a result of this collaboration, organisations will be able to reduce the impact of fraud tactics and protect their customers from identity theft and cyberattacks. According to company officials, the partnership enables Centific to integrate Prove Identity’s insights into their offerings, with the synergy allowing them to combat fraud at scale, frequency, and efficiency. By leveraging Prove’s identity verification solutions, Centific can deliver safer online purchasing experiences for consumers and fraud protection services for businesses.

Moreover, representatives from Prove stated that their alliance with Centific addresses common vulnerabilities and fortifies defences against fraud attempts. With the merge of Centific’s security offering with Prove’s authentication platform, its experience in digital fraud protection, and its proprietary blend of generative AI accelerates the insight-to-action timeline, enabling rapid threat signal analysis.

The integration of generative AI and fraud protection services aims to ensure that the platform is dynamic enough to adapt to threats and evolving customer requirements. This results in a sequence of AI-generated security rules and policies that overlay fraud protection features to Prove’s pre-existing digital identity solutions. Furthermore, businesses in the retail and ecommerce sectors can experience an increased improvement in their security posture. Online marketplaces can leverage the threat intelligence analytics of Centific’s platform to achieve regulatory compliance with the INFORM Consumers Act, solidifying both business identities and consumer identities, as well as addressing the issues that they currently face. 

Prove allows businesses to provide improved digital consumer experiences without compromising security, as its identity verification and authentication platform and the Prove Identity Network enable trusted digital transactions throughout the user journey. Currently, the company works with 1,000 businesses to increase their revenue, improve customer acquisition, enhance cybersecurity, mitigate fraud, and eliminate the costs of legacy identity verification solutions.

Recently, Prove Identity raised USD 40 million in a funding round led by MassMutual Ventures and Capital One Ventures. With the additional funds, Prove solidifies its position in the digital identity verification and authentication market, aiming to leverage the resources to launch new commerce enablement and fraud-fighting use cases. Moreover, the company aims to continue its global expansion and address the threats faced by public and private institutions operating in the digital landscape.