Risk management and fraud prevention company Early Warning has announced that it is buying Authentify, Inc. The companies have signed a definitive agreement to that end, and the deal is set to close in the immediate future.
Early Warning is expecting the acquisition to have a major payoff in enhancing its platform of digital channel authentication methods, which have also recently been helped along by the company’s partnership with Payfone.
Speaking in a press release, Early Warning CEO Paul Finch also emphasized the benefits this will bring to customers, who want “an online experience that is both seamless and secure,” adding that the acquisition puts the company “well on its way to realizing its vision of providing both the powerful multi-faceted authentication needed today plus the advanced authentication needs of the future.”
For its part, Authentify sees the deal as an opportunity to strengthen its products and services; Peter Tapling, the company’s CEO, commented that “this acquisition represents two companies with a common objective uniting to reinforce that goal.”
While it is undoubtedly a good deal for both companies, the acquisition should be a major boon to Early Warning in particular. Authentify currently supports over 1200 e-commerce and financial organizations around the world with its phone-based multi-factor solutions. It recently teamed up with LifeMed ID, a healthcare ID management solutions provider, to develop a new patient identification system; and it also recently launched its new Authentify xFA SecureCallCenter, an SDK aimed at financial services companies for integration into their apps. Given the growing popularity of biometric authentication technology in both of these sectors, Authentify’s solutions should prove valuable components of Early Warning’s arsenal.