The Anonymous Verification Network utilizes a patented protocol to generate trust scores through fully anonymized queries among network members, ensuring that sensitive data remains private. This technology enables businesses to make accurate risk-based decisions, approve more transactions, and enhance customer experiences while minimizing fraud and liability.
Funding
$51.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
EEFounders
Product
Problem
Businesses face challenges in accurately assessing risk and preventing fraud during customer onboarding and transactions due to limited visibility into user identity and behavior. Sharing sensitive data with third-party verification services introduces privacy risks and potential liabilities. Traditional fraud detection methods often result in false positives, leading to declined transactions and degraded customer experiences.
Solution
Identiq provides a private network that enables companies to validate user identities and assess risk without directly sharing sensitive data. Its patented protocol allows network members to send anonymized queries to each other, generating a trust score based on the consensus of the network. This collaborative approach leverages first-party data from a wide range of companies to improve the accuracy of risk-based decisions while maintaining data privacy. By minimizing false positives and reducing fraud, Identiq helps businesses approve more legitimate transactions, enhance customer experiences, and improve efficiency.
Target Audience
Identiq primarily serves businesses in industries such as e-commerce, fintech, travel, and online marketplaces that require robust fraud prevention and identity verification solutions.
Features
- Patented protocol for fully anonymized queries among network members, ensuring data privacy throughout the validation process.
- Generation of trust scores based on the consensus of the network, leveraging first-party data from multiple sources.
- Risk-based decision-making capabilities for accurate assessment of user legitimacy.
- Improved customer experiences through reduced false positives and streamlined transaction approvals.
- Support for various industries, including e-commerce, fintech, travel, ticketing, marketplaces, and telco.
- Solutions for sign-up validation, risk-based onboarding, and trust and safety.