There is no faster-moving space in finance right now than the anti-fraud space. With all the advances in Generative AI, the fraudsters are more difficult to catch than ever. But there is one place where fintechs and banks can focus that has real promise: authenticating the mobile phone.
My next guest on the Fintech One-on-One podcast is Rodger Desai, the CEO and Founder of Prove. They have developed sophisticated tools to verify identity through a mobile phone that can help banks and fintechs across a variety of touchpoints. We explain why the phone may hold the key (literally) to the future of ID verification and authentication.
In this podcast you will learn:
- What led to the founding of Prove.
- Why they decided to focus on financial services.
- The different types of services Prove offers today.
- ID verification best practices and why you need to add authentication.
- Rodger's thoughts on the ready availability of PII due to data breaches.
- What data they are returning back to their clients around authentication.
- How they work with transactions that happen on a desktop rather than a phone.
- How we should be thinking about sophisticated fraud rings today.
- How to combat Gen-AI deep fakes.
- Why key management is the answer to how you authenticate.
- The role of visual cues when it comes to verification.
- What the popular attack vectors are for criminals.
- Who is winning in the arms race between the criminals and the good guys.
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