Mobile identity verification platform tru.ID enables mobile businesses to connect to authentication infrastructure used by national and international mobile networks.
tru.ID (https://tru.id), a mobile verification platform, has released three APIs to help mobile businesses redesign their account authentication experiences and respond to the alarming rise in SIM swap fraud and account takeovers.
Research by cybersecurity firm Technisanct revealed that account takeover posts on the dark web have doubled by 90% in the first five months of 2021. According to Javelin, the strategy and research firm, there’s been a 72% year-on-year increase of account takeover fraud (2020).
The traditional model of digital identity – username/email and password – has long been considered flawed. This is how multi-factor or two-factor authentication (MFA or 2FA) emerged, to patch up vulnerabilities, usually by SMS passcode to verify possession of a mobile phone number.
The simplicity of SMS-based verification has taken apps by storm – most users have a mobile phone. Yet deliverability is a problem, the user experience is patchy and bad actors have learned how to exploit SMS 2FA, leading to the menace of SIM swap fraud, which is alarmingly easy to pull off.
Introducing tru.ID SIM-based Verification
Sometimes the simplest solution is one that’s in front of us: mobile numbers tethered to a SIM. It is a unique pairing that is difficult to tamper with or copy.
tru.ID SIM-based authentication is an identity breakthrough
It is now possible to prevent fraud and fake accounts while seamlessly verifying mobile users using the most cryptographically secure identifier they already have – the SIM card embedded in their mobile devices.
How tru.ID SIM-Authentication API Works
The SIM card within the phone is already authenticated with the Mobile Network Operator (MNO). SIM authentication allows mobile customers to make and receive phone calls and connect to the Internet. tru.ID APIs connect to the same authentication mechanism as national MNOs (plus global coverage). tru.ID verifies that the mobile number is active and paired to the SIM card on the mobile phone.
As part of this verification, the API also retrieves information if the SIM card associated with the phone number has recently changed. These checks can be integrated easily with APIs and SDKs.
Paul McGuire, co-founder and CEO of tru.ID, says: “Many of the account verification and access challenges faced by mobile businesses are caused by antiquated reliance on passwords and SMS PIN codes. tru.ID delivers user authentication that is mobile-native, seamless, secure and private.“About tru.IDtru.ID (https://tru.id) is an API platform for verifying the mobile phone number using only the SIM card.
It is the simpler, stronger alternative to passwords, SMS codes, social logins, and other legacy 2FA methods. tru.ID APIs connect directly to mobile carriers to verify real phone numbers and subscriber SIM status. tru.ID is live in 15 markets and covers over 3 billion mobile users. Build uninterrupted user journeys, add continuous security and embed a private digital identity by design.