Prove acquires Early Warning Services’ mobile authentication lines of business

From: RegTech Analyst

Identity authentication platform Prove, formerly known as Payfone, has acquired mobile authentication lines of business from Early Warning Services, a consortium owned by seven big banks.

The two companies have partnered since 2013 to deliver authentication solutions to the US financial services industry. With this transaction, Prove has assumed direct support for the customers sourced through this partnership, bringing the total number of top ten banks served directly by Prove to seven.

“When you are trusted and relied upon by the world’s leading financial institutions, other industries notice and want the same protections for their customers,” said Rodger Desai, CEO of Prove. “This acquisition will further accelerate our rapid growth and penetration into financial institutions around the globe, positioning Prove as the global standard for customer identity and authentication.”

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.