Prove Identity

Investment Highlights

Company Overview

Prove Identity, also known as Prove, is a company that specializes in digital identity verification and authentication. It leverages mobile technology and data to securely and accurately verify identities, helping businesses reduce fraud and streamline user experiences.

How Prove Identity Works

Mobile-Centric Identity Verification:

• Prove uses mobile phone numbers as the primary key for identity verification. Mobile numbers are unique, persistent, and widely used, making them an effective tool for verifying identity.
• The company utilizes data from mobile carriers and other sources to verify that a phone number is valid and belongs to the person claiming it.

Multi-Factor Authentication (MFA):

• Prove provides MFA solutions that use the mobile device and phone number as additional factors for authentication.
• This enhances security by requiring multiple forms of verification, reducing the risk of fraud.

Behavioral Biometrics:

• Prove analyzes user behavior patterns, such as typing speed and device usage, to further verify identity.
• These behavioral biometrics provide an additional layer of security, making it more difficult for fraudsters to impersonate legitimate users.

Data Integration and Analytics:

• Prove integrates data from various sources, including mobile carriers, financial institutions, and public records, to build a comprehensive identity profile.
• Advanced analytics and machine learning algorithms are used to assess the risk and authenticity of each identity verification.

Compliance and Privacy:

• Prove ensures compliance with regulatory requirements, such as GDPR and CCPA, by employing robust data protection and privacy measures.
• The company provides transparency and control to users over their personal data.

Products

Prove Pre-Fill:

• Automatically populates online forms with verified information based on the user's mobile number.
• Enhances user experience by reducing the need for manual data entry and improves the accuracy of collected data.

Prove Mobile Auth:

• Provides seamless multi-factor authentication using the mobile device and phone number.
• Users can authenticate with a single tap, reducing friction while maintaining high security.

Prove Smart Auth:

• Combines device intelligence, behavioral biometrics, and network data to provide adaptive authentication.
• Adjusts the level of authentication required based on the risk level, ensuring a balance between security and user convenience.

Prove Identity (formerly Payfone Identity):

• Verifies the identity of users by analyzing mobile phone data and other attributes.
• Used for account opening, onboarding, and ongoing user verification to prevent fraud.

Prove Trust Score:

• Generates a trust score for each user based on their mobile phone number and associated data.
• Helps businesses assess the risk of fraud and make informed decisions about transactions and user access.

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