AuthenticID Releases Annual Telecom Impact Numbers

Identity Proofing technology stops record number of fraud attempts for telecommunication and wireless customers

SEATTLE--(BUSINESS WIRE)--AuthenticID, a global leader in identity proofing and fraud prevention solutions, published its annual telecommunications industry impact numbers. AuthenticID’s portfolio of products is utilized by most of the top U.S. telecom and wireless carriers to shut down fraud, increase customer conversion, reduce operating costs, and elevate security.

In the past year, AuthenticID's Identity Proofing and Fraud Shield technology enabled its telecom and wireless customers to both expedite identity verifications and make a notable impact on fraud prevention, resulting in the following figures:

• AuthenticID software allowed these companies to stop over 526,017 suspected counterfeit ID fraud attempts.
• As a result of halting the 526,017 suspected fraud attempts, the potential fraud loss savings is estimated at more than $260 million.

“Telecommunications companies are particularly vulnerable to fraud threats like identity theft, which can lead to high fraud losses and a loss of customer trust,” said Blair Cohen, Founder and President of AuthenticID. “Effective identity proofing means telecommunications companies can offer their customers a strong, trusted, and streamlined solution while also keeping sophisticated bad actors and fraudsters at bay.”

AuthenticID will continue to drive innovation forward in its technology to ensure telecommunications companies can stay ahead of changing fraud techniques and regulatory requirements while delivering best-in-class customer experience.

Learn how leading telecom and wireless providers are leveraging identity proofing technology to stop fraud, through friction-free customer id verifications by visiting www.authenticid.com.

About AuthenticID

AuthenticID is a pioneer in the Identity Proofing and Fraud Detection space. AuthenticID’s fully-automated solution protects identities and mitigates fraud without sacrificing user experience. Founded in 2001, AuthenticID has deep domain expertise in verifying government-issued identification documents with the market’s most powerful, next-generation, automated AI platform for fraud detection and identity verification. AuthenticID’s patented platform is used by the world’s leading financial services firms, wireless carriers, and identity verification platforms.