About

Prove specializes in identity verification and authentication services, primarily serving clients in the financial sector, including many of the largest banks in the United States. The company's solutions work by providing secure, omni-channel authentication methods that can be used across various platforms such as mobile devices, desktops, call centers, and chat services. Prove's approach is centered around privacy, utilizing decentralized data architecture and identity tokenization to protect user information and ensure that consent is prioritized, which sets it apart from many competitors who may rely on more centralized data storage. The goal of Prove is to enhance security and privacy in digital transactions, making it a trusted partner for over 1,000 enterprise customers and 500 banks globally.

Simplify's Take

What believers are saying

• Prove's solutions align with the growing demand for decentralized identity and privacy.
• The rise in digital wallet adoption boosts demand for Prove's tokenization services.
• Prove's scalable solutions processed 20 billion transactions in 2019, indicating robust growth.

What critics are saying

• AI-driven threats like deepfakes pose challenges to Prove's identity verification processes.
• The gig economy's reliance on APIs exposes Prove to potential security vulnerabilities.
• Upcoming eIDAS 2.0 regulation may require Prove to adapt its biometric solutions.

What makes Prove unique

• Prove specializes in phone-centric identity verification, enhancing security and consumer privacy.
• Prove's decentralized data architecture limits data aggregation, emphasizing a privacy-first approach.
• Prove serves 9 of the top 10 US financial institutions, showcasing its industry leadership.

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