Evident ID, a trusted leader in identity and credential verification, announced the first automated, high-assurance identity verification solution for enterprise account recovery to reduce the risk of data breaches, prevent takeover and ultimately protect an organization from advanced threats.
The new solution allows enterprises to easily move away from traditional methods that no longer provide sufficient assurance of an identity, such as knowledge-based verification and SMS-based verification.
This will ensure enterprises not only create greater efficiencies and productivity amongst employees, but experience savings as well without the costs associated with resetting passwords or recovering identity.
“Account recovery is a time-consuming process and increasingly an area of vulnerability and vector of attack for enterprises,” said Evident CEO and Founder, David Thomas.
“Our solution was purpose-built to provide a smooth and seamless experience while offering a higher level of assurance of the requestor’s identity, foiling account takeover attempts and protecting legitimate employees and associates.”
The new solution enhances enterprise account recovery processes by providing:
- Higher assurance: Enterprises can now obtain robust, high assurance verification by integrating Evident’s ID document verification offerings, facial biometrics with liveness detection and mobile network operator verification technologies.
- Verification accuracy: Evident produces identity verification results based on data from more than 6,500 authoritative sources, helping enterprises quickly and accurately corroborate personal data in order to move forward with self-service account recovery.
- Faster turnaround time: Leveraging robust automation technology, Evident makes it easy for account holders to quickly prove their identity so they can reset the credentials necessary for account recovery.
Recent announcements from NIST and other authoritative sources recommend that businesses discontinue their use of identity verification techniques such as knowledge-based verification (KBV), SMS, email, and others traditionally used in many account recovery processes, as these methods may not provide sufficient protection.
Between scams like SIM swapping, phishing, channel-jacking, and credential-stuffing, cybercriminals are directly focused on finding new ways to bypass multi-factor authentication (MFA) systems to steal data, dollars, users’ identities, intellectual property, and more.
“Account recovery security is problematic, especially at the enterprise level, where 20-50% of all help desk calls are for password resets. More complex rules like password rotation policies, KBV, and other outdated methods can introduce more serious threats,” said Evident chief product officer and co-founder Nathan Rowe.
“Evident is making it possible to quickly and accurately verify account holders without excessive disruption and company intervention. Our Enterprise Account Recovery solution addresses a very real need for layered security measures, without the friction and frustration typically associated with attaining a higher level of assurance for enterprise account recovery.”
The solution will be generally available in the first quarter of 2020.