Prove Identity Expands Global Presence, Launches Digital Identity Product Offerings in Brazil with OZ Corretora de Câmbio
Prove’s solutions, now available in Brazil, streamline identity verification and onboarding, enhancing user experience and adoption
São Paulo, October 13, 2022 - Prove Identity, Inc. (“Prove”), the leader in digital identity, today announced it has expanded its global presence to Brazil, launching its product offerings with its first customer in the region, OZ Corretora de Câmbio. OZ Corretora de Câmbio brings protection and security to the foreign exchange market and presents innovative financial solutions. Brazil has become a leader in payments innovation and financial inclusion in recent years and Prove is expanding its product availability and sales support into this market.
Click here to read the Portuguese version of this press release
OZ Corretora de Câmbio will leverage Prove’s Instant Link™, a second-factor authentication service that verifies possession and trustworthiness of a phone during digital transactions, and Trust Score™ to secure the customer experience in a number of different scenarios from digital onboarding to digital servicing and existing customer authentication. Trust Score is a real-time measure of a phone number’s reputation that can be leveraged for identity verification and authentication purposes, and analyzes behavioral and cryptographic authentication signals from authoritative sources at the time of a potential transaction to mitigate fraud such as SIM swap and other account takeover schemes.
“We are thrilled to bring our product offerings to Brazil, which has become a hotbed for innovation in digital banking and payments,” said Paulo Nascimento, Head of Latin America at Prove. “Our solutions help prevent both sophisticated and common forms of fraud, including SIM swap fraud, account takeover fraud, and synthetic ID fraud while streamlining the customer experience, and allowing for simple customer adoption. Businesses in this region can now leverage these powerful new tools to secure high-risk events, and protect consumers from digital threats.”
Prove’s Identity Verify™ will validate consumer-provided personal identity information at onboarding, and confirm phone number ownership and identity authentication during password resets, document access, and payment orders. The tool eliminates bad actors, prevents fraudulent accounts, and reduces user friction throughout the customer lifecycle.
“Security is built into the fabric of our business model, and it’s non-negotiable and critical that we use the most innovative solutions in the market,” said Rodrigo Xavier Soares, CEO OZ Corretora de Câmbio. “OZ has been operating as an institution fully regulated and supervised by Brazil’s Central Bank in the foreign exchange market for more than 20 years, and with Prove, we’ll continue to leverage innovative technology solutions to meet the needs of our customers and partners, with an even more seamless onboarding experience, enhanced user safety, and most importantly, fraud protection.”
“With the security provided by Prove, we were able to launch the first complete Forex as a Service (FxaaS) in Brazil, meeting the needs of any type of customer, whether individual or legal, for any type of exchange operation,” continued Xavier. “We are democratizing exchange services in a simple and headache-free way for any business, whether Brazilian or international.”
Prove’s solutions are used by more than 1,000 businesses globally across diversified industries, including 8 of the top 10 banks, 3 of the top 5 retailers, 2 of the top 3 cryptocurrency exchanges, 2 of the top 3 healthcare companies, and 6 of the top 10 insurance companies in the U.S.
About Prove Identity, Inc. (“Prove”)
As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with and enable consumers. Prove’s phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove’s platform to process 20 billion customer requests annually across industries, including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces, and payments. For the latest updates from Prove, follow us on LinkedIn.
About OZ Corretora de Câmbio
Transparency. Technology. Protection. Security. These are core values for OZ Corretora de Câmbio. As an institution fully regulated and supervised by Brazil’s Central Bank and bearer of the Seal of Conformity of ABRACAM - Brazilian Association of Exchange and Money Laundering Prevention Policies, OZ has become one of the Top 5 players in the Brazilian Exchange Market in the past years. We use the most innovative technologies in payments and money transfers to drive dreams and ideas of more than 150,000 clients around the world. Check us out on LinkedIn.
PR Contact:
pr@prove.com
Keep reading
Developers know identity verification is an essential element of effective digital onboarding and the customer lifecycle. Choosing the right one can feel like navigating a maze of features and complexity.
In an age where our smartphones have become almost like extensions of ourselves, the identity assurance achieved through smartphone possession and data is a natural evolution.
Rodger Desai, CEO of Prove, a leading identity verification solution provider, offers a unique perspective on the rising fraud in the gig economy, advocating for robust digital identity verification as a key defense mechanism.
