NewTech Friday: Prove – Simplifying authentication
Rodger Desai is the Co-Founder and CEO of Prove. He tells us about his company and how it enables digital trust by proving identity in the most accurate and streamlined way.
Rodger Desai is the Co-Founder and CEO of Prove. He tells us about his company and how it enables digital trust by proving identity in the most accurate and streamlined way.
What led to the creation of Prove?
The smartphone has become the primary tool to manage our lives. We started Prove to take advantage of all the incredible capabilities that are in phones – from cryptographic authentication to payments – and apply them to other critical challenges such as identity verification and authentication. We knew that for the digital economy to thrive and be inclusive, it would require digital trust – that consumers and businesses could transact with trust with each other globally. We enable trust by being the most accurate way to prove identity in the world: from mobile banking to digital health to e-commerce and payments, the biggest brands in the world rely on Prove to manage fraud and risk with accuracy. In the US alone, Prove authenticates over 82% of the US adult population as they conduct their digital lives.
Could you present Prove's offer?
The Prove Pinnacle platform reimagines customer onboarding, login and payments, simplifying these processes down to just a few clicks while also mitigating fraud. In one Tier 1 bank’s case, we have raised approval rates to 92% while reducing fraud to 3 bps. This equates to hundreds of millions of dollars in additional annual revenues. Every digital business can remove friction while simultaneously thwarting fraud losses and reducing operating expenses.
What's coming next for Prove?
The web wasn’t built with identity in mind, which is why so many products are tedious to use. Prove enables businesses to reinvent themselves, delight their customers, and grow faster – something every business in the world aspires to do. So what’s next for Prove? Prove will continue to expand to new industries and new geographies, as well as new markets such as Web3 and cryptocurrencies.
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