Unum ID for Financial Services

This is me logging into the ACME website using ACME's mobile app. Painless multi-factor authentication in a fraction of a second with no password. Modern financial services manage thousands of employees, millions of users, and billions of transactions across dozens of geographies. Regulations and business needs force them to collect vast amounts of sensitive personal data and store it in central databases. Data breaches are up nearly 300% year over year, and 4 of 5 of them are caused by compromised passwords, which attackers obtain through social engineering attacks like phishing and SIM swapping. This is a club you don't want to join. The COVID-19 pandemic has dramatically worsened these problems. Users are interacting with financial services online more than ever before, and yet today authentication is a mess. UnumID has a solution: the end of "I better not tell you my password." Painless multi-factor authentication with no shared secrets. You just add our software to your mobile app and it works behind the scenes on top of your existing infrastructure. To log in, the user simply uses their phone and passes a biometric check. In the background, UnumID uses asymmetric cryptography tied to the secure hardware of the user's phone. There's really nothing an attacker can do. Phishing doesn't work because there's nothing to phish. No password or other shared secret. Even better, the authentication is bidirectional. You authenticate the user and the user also authenticates you. SIM swapping fails also. The user's identity is tied to their physical phone, not their phone number. So redirecting a phone number doesn't do anything. It's the convenience of Face ID everywhere with even higher security. And it works for both users and employees across all of their devices and workstations. It even works on support calls and in person. Your kids don't know what floppy disks are. Their kids won't know what passwords are. As a financial service, you're sitting on a goldmine, not just of money, but of verified personal data. Everyone wants it, both bad actors and other companies who need faster user onboarding. We just showed you how UnumID helps you protect the goldmine from theft through passwordless authentication. Now we'll show you how UnumID lets you put the gold to use. We call it Sharified Identity. Digital identity today is a mess. IAM systems are siloed. Okta and Active Directory instances often don't talk to each other, leading to fragmented user and employee accounts. Verifying identity online is expensive, slow, and very prone to fraud, which leads to low account opening rates and churn. And especially with COVID-19, large institutions are being outcompeted by small fintechs with mobile-first solutions. UnumID transforms your mobile app into a virtual ID card. It securely stores a person's identity data and lets them instantly share it across business units, partners, and beyond. It's a single source of truth for who a user or employee is. Let's see this in action. To create an account with this fintech company, Hooli, normally I'd have to go through manual data entry and a KYC process that would take anywhere from 10 minutes to several days. But with UnumID, I can create an account instantly. I just click Verify with Acme and do a biometric check in the Acme app. This has all of the security benefits of the passwordless authentication we showed you before, but now I'm sharing much richer data. In this case, a full KYC verification. It's like Login with Google and Login with Facebook. You would never delete your Facebook account because it's the access point for so many of the services you use. With UnumID, you can put Verify with Your Company buttons all over the web with complete control over where your users can and can't share their data. Importantly, each user stores their own data on their device, and the data is never shared without their consent. We built UnumID for a GDPR world. This makes you essential far beyond finance. It puts your goldmine of verified personal data to use. I founded UnumID with my brother Aidan while both of us were at Stanford. We left to build this company because we believe digital identity will unlock a vast new wave of transformation. We have an amazing group of advisors and we're backed by Samsung, Draper Associates, Stanford professors, Franklin Templeton, and many more. What could you do with UnumID? Join us. Sharified identity is the future.