Confyrm Joins Capital One to Fuel Consumer Identity Services at Scale
Startups are formed for many reasons — sometimes it is because there is a challenge that needs to be tackled, and it requires a scrappy little startup to prove that we can make a difference.
Confyrm was founded five years ago with an ambitious vision: to restore trust in digital identities. We recognized that despite an increasing reliance on digital identities, consumer trust in those identities continued to erode. We wanted to make a real difference to reducing online fraud and to make the internet a safer place for everyone engaged in it, but critically to do this without abusing customer privacy and storing personal data.
Identity systems are becoming more and more complex: they are progressively more distributed, federated and outsourced. More critically, digital identity systems are becoming core to trusted online transactions for governments, companies and consumers alike.
To address all of this complexity, we have known for a long time that if we could all share more security alerts using privacy enhancing distribution methods then we could increase safety while avoiding impacting privacy or brand trust.
That is the essence of the shared Identity signals model that Confyrm was based on. Building on that concept, we developed the Confyrm Event Warning System, a platform of shared privacy-preserving identity alerts providing early detection of digital identity risk. The system works by providing early notifications of suspicious account activity with providers across the ecosystem, mitigating the impact of fraud and account theft for both identity providers and consumers.
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By Andrew Nash, founder and CEO of Confyrm
Medium
May 10, 2018
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