TMT Analysis launches Authenticate
March 2, 2023
TMT Analysis, a mobile identity company, has launched its new solution – Authenticate – to offer enhanced device validation, more stringent anti-fraud measures and an improved customer journey.
The solution works by using checks made in real time by the Mobile Network Operator, authenticating the device using data encoded securely on the device’s SIM card. This confirms that the phone number on the end of an internet connection with an organisation’s site is the same number as that organisation would expect it to be. This requires no user intervention and is a more secure and accurate method of device authentication.
This new product is part of the emerging trend of ‘silent authentication’, which offers enhanced security and protection without requiring a customer to wait or leave an organisation’s website or app or enter an SMS One Time Password (OTP).
The key benefits for companies using Authenticate include:
- Enhanced anti-fraud processes – According to data, over half (51%*) of organisations experienced fraud in the past two years. Authenticate combats fraud by swiftly confirming an individual’s mobile device that they’re using in around half the time it takes using an OTP, which can also often be prone to fraud, phishing attacks and impersonation. Authenticate offers greatly increased security as it checks the device identity using the mobile operator’s digital certificate on the user’s SIM card (that no outside parties can access) and the authentication message goes directly to TMT Analysis, rather than the device itself so it is not susceptible to ‘man in the middle’ attacks, such as OTP interception.
- Accurate device confirmation–Streamlining the login process ensuring that devices are checked more accurately within a matter of seconds. Authenticate ensures it is not possible to fake which device a user is accessing an app or website from.
- Improved customer journey – Without the need to implement OTPs or leave an app or website, Authenticate improves the user experience. This provides commercial advantages, as a company can then design their customer journeys to attract and retain customers by reducing cart or sign-up abandonment rates (which currently average 70%).
Fergal Parkinson, Director at TMT Analysis said: “As global security threats evolve, it’s vital that organisations implement the most effective anti-fraud measures possible. Authenticate provides companies with the holy trinity of security tools – faster and more secure authentication, eliminating fraud whilst simultaneously boosting user experience. This offers organisations across multiple industries a commercial edge in hugely competitive landscapes. Authenticate requires zero customer input, keeping customers on an organisation’s website or app. By reducing this friction, organisations increase the chance of gaining and retaining a customer as there is no customer requirement to remember a password, wait for an SMS OTP, or download anything. This approach transforms the user experience but, just as importantly, also reduces the risk of customer abandonment, ultimately boosting sales.”