Innovis’ FailSafe product adds an extra level of authentication for financial services and consumer lending platforms using Lightico’s digitalized customer journey solution
New York, NY – March 6, 2023 – Lightico, market leading provider of digital customer interactions, announced today its integration with Innovis, a leading provider of fraud prevention solutions, to provide its authentication tool, FailSafe, to manage fraud risk. The phone ID verification tool will assist current and future Lightico customers with fraud detection and prevention.
The collaboration will provide mobile authentication for financial services and consumer lending platforms, helping to reduce authentication times and fraud risk. A recent study has shown FailSafe can reduce fraud by 80% and cut transaction times from 4-5 minutes to just 45 seconds. FailSafe joins Lightico’s existing offerings: Photo ID verification, Selfie verification, Liveness detection and Knowledge-based Authentication (KBA) to provide an extra layer of protection for financial services and consumer lending programs.
“Integrating Innovis’ FailSafe authentication solution into our Lightico workflow allows us to verify our customer’s identity before delivering documents for electronic signature,” said Paula Kurkowski, SVP Director of Bank Operations at Stockman Bank of Montana. “Our Lightico use over the past couple of years has resulted in more efficiencies while providing a better customer experience. Adding this new layer of authentication allows us to continue to provide the quick, easy, and convenient service for our customers while providing top-notch security.”
“The integration further bolsters Lightico’s Multi-Factor Authentication (MFA), helping our customers to mitigate fraud by offering multi-layered authentication options to fit their compliance requirements as well as adjust to customer needs and demands,” said Zviki Ben Ishay CEO and cofounder of Lightico. “With it, financial institutions are able to offer customers state-of-the-art speed and security which is a critical part of remaining competitive in today’s market.”
“Innovis provides a streamlined verification process for top banks and other financial institutions,” says Bruce Nixon, President of Innovis. “We are excited to sync with Lightico’s platform to improve the customer journey and expand our reach to provide phone ID verification for additional financial services and consumer lending platforms.”