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Should You Adopt One Time Passwords?
Sending One Time Passwords (OTPs) is often one of the first steps business take in making sure data and customers are protected from online fraud. After all, identifying who's trying to access your online services and accounts is a great way to protect your services and unmask fraudsters.
In the most basic terms: Identity verification, also referred to as identity proofing, is the process of confirming if someone is who they say they are. Authentication is the process of making sure that the person trying to log in is the same person whose identity was confirmed before.
A quick search online will give you hundreds of different OTP solutions via a myriad of channels. Pick a channel, implement it and done? Possibly. But there's one reoccurring OTP nightmare - the price per sent message.
I think we've all been there before: You try to log in to a secured environment, and the OTP message gets lost in the void. You request another. Still nothing. It may take up to 10 minutes to receive the OTP, but in today's busy world - ain't nobody got time for that. So, you request another. Then they finally show up - all OTP messages at once!
If you have experienced this before, then so have your customers. And as a business, you often pay per sent OTP message - even the ones that failed to actually be helpful during the login process. An expensive nightmare. And even if the verification succeeds with just one OTP message, there are fraudsters lurking about, coveting to abuse the per-message pricing in the form of toll fraud, SMS pumping or Artificially Inflated Traffic (AIT) fraud.
With our Verification API, your business will benefit from smart routing. That means that we'll automatically choose the best, most secure and innovative channel for your business, with relevant fallback channels, to ensure that your verification services will be successful. And perhaps the biggest benefit: You will only pay per successful verification.
Is There a Better Verification Method Available?
When securing online accounts, one time passwords are often the first thing that come to mind. But what if we told you there's a newer, better way to authenticate users? There's a solution that is more secure, faster, and provides a better user experience: Number Verify.
Also known as Mobile Identity Authentication, Silent Verification, Silent Network Authentication, or passwordless authentication, Number Verify leverages the unique characteristics of a SIM card in mobile devices to authorize and verify the user before they log into your mobile app.
The user will be asked to enter their telephone number, and nothing else, and the authentication will happen in the background via the mobile operators that supply the SIM verification. Hence it is often referred to as a 'silent' authentication method. Because the process happens without any messaging involved, criminals are not given the chance to commit fraud such as toll fraud, phishing, smishing, AIT, and many more.
Our Verification API offers Number Verify as the first line of authentication. Is Number Verify unavailable? Then our previously mentioned Smart OTP Routing will kick in and send out an OTP via the channel that is most suited for your business, audience and use case.
The All-In-One Solution for Verification
There are a plethora of solutions available to secure your business, but where to start? What is the best solution for your business? For your audience? And for your use case? Integrating solutions from different suppliers can be needlessly complex, and it can leave your business vulnerable for fraud if these systems don't work well together. Then there's the conundrum of the costs- often paid per message, even if the verification fails. And what about additional security measures besides verification? How should you choose between those?
Surely, securing your business shouldn't be that difficult! That's what we thought as well. With our Verification API, we strive to make securing a business easy, intuitive, customizable, and user-friendly. A solid and strong security solution for your business that will keep you complaint with international rulings, and possibly open up new markets for you to explore and enter. And while we're at it, lowering the total cost of ownership.
One supplier, One API, One solution
Connect to our API, benefit from our integrated safeguard features, innovative verification methods, smart routing, and only pay for successful verifications, regardless of channel and without additional channel costs!
Interested? Feel free to contact one of our experts and discuss the possibilities for your business.
