The integration of Prove's modern identity authentication solution to Instnt's digital customer onboarding platform further improves its fully automated verification capabilities, enabling businesses to verify and onboard new customers without fraud liability exposure and friction.
NEW YORK, October 7, 2020 - Instnt, the first fully managed customer onboarding platform that warranties its services against fraud losses, today announced its partnership with Prove. Through this partnership, Instnt aims to improve its codeless managed customer onboarding service offerings with Prove's modern identity verification platform which is used by over 1,000 enterprises and 500 bank customers to modernize their business operations by removing friction with passive, strong authentication.
Instnt selected Prove as its identity authentication partner based on its modern phone intelligence-based platform, which enables companies to green light >90% of customers without subjecting them to cumbersome step-up authentication processes such as knowledge-based authentication. With more online activity than ever before, the mobile phone is one of the most valuable and reliable sources of identification for new and existing customers. Prove will enable Instnt clients to securely and privately authenticate the information entered by their users, preventing fraudulent account openings.
"We are thrilled to work with Instnt, who will be leveraging Prove's phone intelligence technology to drive more revenue for their clients. Together, Instnt and Prove are mitigating account opening fraud and reducing friction to reinvent the onboarding experience around the phone number," said Rodger Desai, CEO and Founder at Prove."
The Instnt platform enables businesses to provide their new customers frictionless sign-up and onboarding experiences, with codeless plug-and-play integration and a set-and-forget operation.
"As mobile devices have become the de-facto second-factor authentication tool, Prove's robust phone intelligence technology becomes a crucial component to enable frictionless digital acceptance and authentication of consumers on Instnt's digital customer onboarding managed service. Through this partnership, Instnt aims to bring digital inclusion and one-click federated sign-up to consumers across mobile apps and websites on the internet," said Sunil Madhu, CEO, and Founder of Instnt.