5 U.S. based Digital Identity platform providers in the Financial ecosystem

By Pavithra R

As we continue to endure the prolonged effects of the pandemic, it should come as no surprise that millions of people are online more than ever. A digital identity is the body of information about an individual, organization or electronic device that exists online. In today’s digital ecosystem, every one and every thing has a digital identity.

The revolution of managing identity is here. Digital Identity is changing the way financial institutions interact with customers. The article list 5 digital identity platform providers in the Financial ecosystem.

Civic Technologies

Civic believes that everyone should have more control, access and privacy when it comes to their personal data. Its mission is to help protect customers’ digital identity with simple, elegant solutions that unlock their world, from accessing cryptocurrency easily to connecting with friends to making transactions that require authorization.

Civic Wallet is a non-custodial, multisig digital wallet that provides a safer, easier way for consumers to transact. It combines identity and payment in one. Its technology platform creates trust with blockchain-powered identity verification, privacy-focused health status, and better peer-to-peer Bitcoin transfers. The firm offers the ability to transition flexibly between traditional currencies and crypto, manage money and identity more easily with a friendlier user interface, and meet security requirements with our compliance wrapper for partners.

Acuant

Acuant is a leading global provider of identity verification, regulatory compliance (AML/KYC) and digital identity solutions. It’s Trusted Identity Platform is powered by AI and human-assisted machine learning and provides AI-powered identity verification, regulatory compliance (AML/KYC) and digital identity solutions that deliver unparalleled accuracy and efficiency.

Acuant’s solutions balance security with customer experience while fighting fraud across the physical and digital world. The company is said to have over 30 digital identity and IDV patents currently. Beyond identity proofing, Acuant Compliance (formerly IdentityMind) offers online risk management and automation for AML, KYC, transaction monitoring, and sanctions screening. The firm has leading partners in every industry, including finance and has completed more than 1 bn transactions in over 200 countries and territories. 

HYPR

HYPR is the Passwordless Company backed by Comcast, Samsung, and Mastercard. It helps financial corporations secure user credentials by storing them safely on mobile devices.  Powered by advanced Public Key Cryptography, the HYPR solution combines enterprise-grade security with a mobile-first user experience. It is a True Passwordless Security solution designed for cross-cloud, cross-platform, in-app deployment across the Global 2000.

The company’s solution is being leveraged by many large organizations to eliminate fraud, phishing and password reuse for their customers and employees all while delivering passwordless security. It is an Authentication Platform designed to eliminate passwords and shared secrets thereby removing the hackers’ primary target while eliminating fraud, phishing and credential reuse for consumers and employees across the enterprise.

ForgeRock

ForgeRock is a leading provider of identity platform for the identity & access management market. The company delivers a modern, comprehensive digital identity platform designed for any cloud environment to provide exceptional, secure digital experiences. Its platform supports identity and access management for all use cases.

ForgeRock offers the full power of the ForgeRock Identity Platform on-prem and as a service with the ForgeRock Identity Cloud. Its hybrid approach helps bridge the gap between legacy and the new world, and transform business apps and services all without impacting user experience. Using ForgeRock, more than a thousand global customer organizations orchestrate, manage, and secure the complete lifecycle of identities from dynamic access controls, governance, APIs, and storing authoritative data – consumable in any cloud or hybrid environment.

Evernym

Founded in 2013, Evernym is a market leader in verifiable credential technology and develops software and applications to help organizations worldwide build trusted digital relationships. It builds and deploys self-sovereign identity solutions, with the technology and go-to-market resources powering digital credentials’ implementations in production.

The company has a vision of ubiquitous verifiable credentials that facilitate trusted interactions in daily life. The company knew its vision is bigger to remain a single company and that for decentralized identity to take off, it invented the Sovrin Network, a public ledger specifically built for identity in 2016.