Stytch provides a comprehensive identity platform focused on authentication and security solutions for developers. The platform includes features like Single Sign-On (SSO), device fingerprinting, and bot protection, catering to businesses of all sizes, from startups to large corporations. Stytch operates through an API that allows developers to create customized authentication flows tailored to their specific tech stack. Additionally, it offers frontend and mobile Software Development Kits (SDKs) for building user interfaces that integrate seamlessly with its API. Stytch's business model is designed to scale with its clients, ensuring they can continue using its services as they grow without needing to switch providers. The company emphasizes its strong security measures and reliable infrastructure, boasting a 99.999% uptime Service Level Agreement (SLA). Stytch aims to be a one-stop solution for all authentication and security needs, providing flexible and dependable services.

William Hockey

Lenny Rachitsky

Benchmark

Mahmoud Abdelkader

Amber Feng

Index Ventures

Elad Gil

Dylan Field

Jeff Morris Jr.

Coatue Management

Thrive Capital

Enterprise Software

Cybersecurity

Stytch

Identity platform provider Stytch has launched new device fingerprinting capabilities designed to provide enhanced fraud and bot protection for developers.

Stytch Unveils Advanced Authentication Tech with Enhanced Fraud and Bot Protection for Developers

Improve end user experience in VDI, DaaS and physical endpoint environments
Stytch Unveils the Most Complete Developer Toolkit for Passkeys
Stytch announced the general availability of its Passkeys offering,
giving developers the easiest way to build, customize and maintain
passkey-based authentication in their applications.

Stytch Unveils the Most Complete Developer Toolkit for Passkeys: @VMblog

Before we dive in, one quick thing to point out: the deck you see below is missing user and financial metric you’d probably expect to see. This is likely for two reasons: Sytch’s fundraise from…

Steal Stytch’s Deck that Raised $90M from Coatue

The digital age has brought with it a new, sophisticated twist to traditional fraud threats.But while the threat of cybercrime is constantly evolving, as bad actors and cybercriminals leverage the same bleeding-edge tools that organizations have at their disposal, it’s important for firms to note that one of the biggest threats can often come from the inside.That’s because despite all the buzz around new technology, human employees remain both a firm’s best line of defense — and one of their most sensitive vulnerabilities.This, as a New York-based procurement manager, Bhaskarray Barot, pled guilty on Wednesday (June 7) to defrauding his own company as part of a multi-million dollar, multi-year fake invoice scheme.“For years, Barot created fraudulent invoices and processed them for payment at the Manhattan-based company where he used to work as a procurement manager. Barot designed the invoices to closely resemble the invoices that the company received from real vendors and other entities owed payment from the company. But the fraudulent invoices differed in a crucial way: they directed payment into Barot’s pocket,” said Damian Williams, the U.S. Attorney for the Southern District of New York (SDNY), in an announcement about the judgment.Over approximately 40 fake invoices dating back to 2018, the procurement manager used his position to process fraudulent payment requests, totaling approximately $4.4 million for his own gain.Invoice fraud is a common problem that results in an average yearly cost of $280,000 per middle-market business.See Also: Generative AI Gives Scammers More Tools and Greater ReachResearch in “Payments Security Amid Uncertainty: Fighting Fraud And Crime With Digital Innovation Playbook,” a PYMNTS collaboration with Citi, details how firms can pinpoint vulnerabilities and strengthen security to better position themselves — and takes care to note that fraud can originate from inside an organization as easily as from outside, meaning that companies must effectively prepare for, and protect themselves against, both.Particularly in today’s challenging economy, it’s worthwhile for firms to be introspective about their defenses and the strength of those defenses — and whether they’re in a position to fend off attacks, no matter where those attacks come from.Authentication and enterprise-level digital identity verification have become crucial to helping firms identify digital fraud today while protecting against it tomorrow.As PYMNTS has previously noted, there is a “greenfield opportunity for providers and platforms to help automate the verification of counterparties’ identities, payment details and accounts.Still, many global businesses lack access to the modern digital tools needed to identify fraud vulnerabilities and mitigate their risks.While 38% of businesses are using document and identity authentication tools, with roughly a third of those companies looking to modernize ID processes plan to outsource those functions, PYMNTS research in the “B2B Payments Fraud Tracker” found that 71% of businesses say they need additional digital fraud solutions.That’s because the longer firms hold off on boosting their defenses, the more of a jump bad actors will be able to have on them.“Fraudsters, as a general rule of thumb, tend to be very sophisticated and are always finding new ways to defraud individuals and businesses,” Doriel Abrahams, head of risk in the U.S. at fraud prevention provider Forter, told PYMNTS.Abrahams explained that “the weakest link in the online payment journey is the human link,” and emphasized that while organizations often leverage artificial intelligence (AI) and machine learning (ML) tools to train anti-fraud models and establish robust controls, “fraudsters can do the same.”But that doesn’t mean the situation is hopeless, with bad actors playing the cat and businesses the mouse in a constantly evolving game of cat-and-mouse.“One of the things people in the identity space are most excited about is this concept called passkeys that is a new way to do cross-device biometrics, and it pretty much moves us away from the password-laden world into a much more seamless UX,” Stytch Co-founder and CEO Reed McGinley-Stempel told PYMNTS, emphasizing that it will establish much more secure authentication pathways for firms — and hopefully keep the next generation of bad actors at bay.Because at the end of the day, it’s a simple, if damning, quandary firms find themselves facing — make it too easy to make transactions, and companies and consumers are exposed to the fraudsters. Make it too hard, and no one wants to put up with the frictions along the journey and they move to a competitor

It’S Not Enough That Businesses Win – Fraudsters Must Also Lose

Authentication is crucial to ensuring the inner workings of today’s digital world keep moving seamlessly. That’s because authentication hiccups can hamstring an organization, resulting in lost sales and costly customer churn. A core component of both cybersecurity and organically scalable software access, frictionless identity and access management processes are foundational to keeping sensitive data safe and secure while ensuring business scalability

Stytch Ceo Says Frictionless Ux Crucial To Scaling B2B Authentication

Stytch, the company building an all-in-one platform for identity and access management, announced the general availability of its B2B authentication solution, bringing the same frictionless, easy-to-integrate experience that Stytch is known for with B2C authentication to B2B applications.

Stytch Expands Its Platform to Offer B2B Authentication

Stytch has added B2B authentication to its platform that already provides B2C authentication.This new offering enables businesses to add authentication to their B2B products and applications without having to build it themselves, Stytch said in a Tuesday (May 23) press release.“Our goal is to help B2B businesses focus their efforts on building their core product offerings, rather than needing to spend significant resources on building B2B authentication in-house,” Stytch Co-founder and CEO Reed McGinley-Stempel said in the release.Stytch’s new B2B authentication solution allows businesses to customize their authentication requirements and to provide multiple options for their end users to authenticate themselves, according to the press release.The solution is also fully extensible and flexible to accommodate both current and future requirements, the release said.“Building authentication for B2B applications is often complex and requires a lot of resources and back-end development,” McGinley-Stempel said in the release. “We’ve built a solution tailor-made for B2B applications that handles the complexity of delivering enterprise-grade authentication and a frictionless user experience.”PYMNTS research has found that proving and authenticating an organization’s digital identity is one of the biggest struggles for companies mitigating B2B payments fraud.Forty-nine percent of firms recognize that verifying new business customers’ identities is an important challenge they must address, and 16% consider this to be the most important challenge they face, according to “The New B2B Authentication Standard: The Shift Toward Automated Digital Identity Verification,” a PYMNTS and TreviPay collaboration.The report also found that just 32% of organizations are very or extremely satisfied with their current identity verification and fraud prevention solutions.Businesses that lack effective authentication are prime targets for invoice fraud on both the accounts receivable (AR) and the accounts payable (AP) side, Candler Eve, vice president and director of enterprise fraud at MidFirst Bank, told PYMNTS in an interview posted in January.In an increasingly online world, fraudsters have more opportunities to commit fraud and more tools with which to do so than ever before, Eve said.“We see invoice fraud with some frequency,” Eve said. “I can tell you that across the country, it is rising.”For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter

Stytch Launches Authentication Solution For B2B Products And Applications

One of Descope’s main competitors is Stytch, a tool enabling developers to build authentication flows via an API as well as JavaScript and mobile SDKs.

With password security giving way to passwordless, Descope raises $53M | VentureBeat

A couple months after Stytch Inc. launched its first product Email Magic Links, Stytch Inc. took a step back to evaluate its development cycle.

The remote dev decision: part one

Stytch is thrilled to be recognized as a Built In Best Places to work award winner.

Stytch honored with BuiltIn's 2023 Best Places to Work award

Identity platform for authentication solutions

Stytch

Identity platform for authentication solutions

Stytch

Identity platform for authentication solutions

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