authID partners with Berify to enhance biometric identity solutions for user onboarding and authentication in the Asia Pacific market.
Quiver AI Summary
authID, a provider of biometric identity verification solutions, has announced a partnership with Berify, which will use authID's ProofTM and VerifiedTM technology for user onboarding and authentication. This collaboration will help Berify secure its global user base while leveraging authID’s biometric solutions to address various enterprise needs in the Asia Pacific region. Berify's platform integrates blockchain and cybersecurity to enhance consumer engagement and streamline user experiences, creating a reusable identity across multiple vendors. Berify's CTO praised authID for its ability to provide strong identity assurance and prevent fraud. authID's CEO expressed excitement for the partnership, highlighting its market competitiveness and potential for increased bookings in the upcoming year.
Potential Positives
- authID has secured a significant multi-year agreement with Berify, enhancing its customer base and global reach, particularly in the Asia Pacific market.
- Berify's selection of authID for its biometric identity platform highlights authID's competitive edge and technological superiority in the identity verification space.
- The partnership will integrate authID’s cutting-edge biometric solutions into Berify’s platform, indicating a strategic move towards expanding authID's market presence and service offerings.
- This announcement reflects authID's commitment to increasing bookings and driving growth, showcasing a positive outlook for the company's future performance.
Potential Negatives
- The announcement of a partnership with Berify may highlight a need for authID to seek more substantial collaborations, indicating dependence on a single partnership for growth in a competitive market.
- The release does not provide concrete financial terms or projections related to the multi-year agreement, potentially raising concerns about the expected revenue impact and long-term sustainability of the partnership.
- The mention of competing companies suggests that authID is still in a competitive struggle, which may imply uncertainty about its market position and effectiveness against rivals.
FAQ
What solutions will Berify use from authID?
Berify will utilize authID's ProofTM and VerifiedTM solutions for user onboarding and authentication.
How does Berify's platform enhance consumer experiences?
Berify’s platform combines blockchain, cybersecurity, and intuitive dashboards to create engaging product experiences and interactions.
What was a key reason Berify chose authID?
Berify selected authID for its biometric identity platform's ability to securely onboard and authenticate users while preventing identity fraud.
What is the benefit of authID's technology for Berify's customers?
AuthID's technology offers enhanced secure experiences for Berify's customers, ensuring trust and safety in their digital interactions.
How quickly does authID verify user identities?
AuthID delivers biometric identity processing in just 700 milliseconds, ensuring rapid verification and user experience.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AUID Insider Trading Activity
$AUID insiders have traded $AUID stock on the open market 15 times in the past 6 months. Of those trades, 2 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $AUID stock by insiders over the last 6 months:
- THOMAS ROBERT SZOKE (Chief Technology Officer) has traded it 13 times. They made 0 purchases and 13 sales, selling 26,607 shares.
- MICHAEL CHARLES THOMPSON purchased 12,254 shares.
- STEPHEN JEFFREY GARCHIK purchased 150,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$AUID Hedge Fund Activity
We have seen 10 institutional investors add shares of $AUID stock to their portfolio, and 6 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GEODE CAPITAL MANAGEMENT, LLC added 29,810 shares (+43.8%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC removed 22,728 shares (-100.0%) from their portfolio in Q3 2024
- JOHNSON FINANCIAL GROUP, INC. removed 20,305 shares (-50.0%) from their portfolio in Q3 2024
- VANGUARD GROUP INC added 15,308 shares (+8.1%) to their portfolio in Q3 2024
- BLACKROCK, INC. added 10,545 shares (+73.5%) to their portfolio in Q3 2024
- SONIC GP LLC removed 10,000 shares (-8.0%) from their portfolio in Q3 2024
- COMERICA BANK added 9,670 shares (+835.8%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DENVER, Dec. 02, 2024 (GLOBE NEWSWIRE) -- authID ® (Nasdaq: AUID) (“authID”), a leading provider of biometric identity verification and authentication solutions, today announced Berify , an authentication, consumer experience & signal harnessing organization, as a customer and OEM partner. Berify will secure its global user base with authID’s Proof T M and Verified TM solutions for onboarding and authenticating, and will OEM authID’s biometric solutions as a part of its platform to solve multiple enterprise use cases in the Asia Pacific market.
Berify’s integrated platform combines blockchain, cybersecurity, consumer engagement and intuitive dashboards that allow its partner brands to create limitless product experiences, and social interactions for their consumers that generate valuable zero-party data for the client..
“authID stood out among several other potential partners because of their biometric identity platform’s ability to both securely onboard and seamlessly authenticate our global user base with the highest levels of identity assurance,” said Thomas Chen, Berify CTO. “authID’s biometric platform perfectly complements our vision to provide a verifiable, reusable identity that functions across any number of platforms, and their ability to recognize duplicate identities is a critical feature in our commitment to prevent identity fraud. Adding authID’s technology to our platform is a huge win for our customers who want to secure their platforms, and their users who want enhanced, secure experiences wherever their digital journey takes them.”
Through its integrated platform Berify provides a single, reusable identity that can be used across vendors. The identity includes a digital address that can be bound to an authorized device to streamline user experiences and secure the account recovery process in the event of a lost device or account compromise.
“We are excited that Berify selected authID to provide the highest levels of identity trust with market leading speed, precision and accuracy, while deepening user trust with frictionless identity experiences, and our customer success team looks forward to getting them live quickly on our platform,” said Rhon Daguro, authID CEO. “This win demonstrates our ability to outperform several industry competitors, and the signing of this latest multi-year agreement is not only a testament to the strength of our offering but represents substantial progress in our efforts to increase bookings throughout the coming year.”
For more information on authID’s offerings as well as its library of educational material related to biometrics and deepfakes, visit www.authid.ai .
About authID
authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem.
Contact us
to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.
About Berify
Berify is a cutting-edge platform specializing in connecting physical products to the digital world for consumer experience and brand protection. With a suite of patented technologies, Berify offers a blend of security, interoperability and engagement in the consumer-brand relationship. Berify brands can protect their reputation, know their consumer, own their data, gain valuable consumer insights, incentivize desired behaviors, harnessing valuable signals and differentiate themselves in the competitive market. For more information, visit
www.berify.io
.
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