Authentication and fraud prevention company ThreatMetrix announced a new partnership with digital security company Gemalto. The two fintech players will offer “holistic authentication” to banks, payment services providers, credit card networks, international payment transfer companies, and fintech companies across the globe. Specifically, the companies have joined forces today to combine insights from ThreatMetrix’s Digital Identity Network with Gemalto’s authentication solutions. The user-friendly security solutions help financial institutions expand their online offerings securely.

“Authenticating digital identities has become essential for the financial services industry,” says Pascal Podvin, SVP of field operations for ThreatMetrix. “This allows financial institutions to deliver superior customer experiences while driving online revenue growth. Crucially, this also prevents massive losses from rising fraud attacks, particularly in cases of identity spoofing.” Podvin added that today’s partnership also helps banks “deliver superior customer experiences” and prevent “massive losses from rising fraud attacks.”

ThreatMetrix’s Andreas Baumhof (CTO) and Dean Weinert (Sr. Director Product Management) demo at FinovateSpring 2017

Founded in 2009, the San Jose-based company verifies more than 20 billion annual transactions supporting 30,000 websites and 4,500 customers across the globe through its Digital Identity Network. The network feeds into ThreatMetrix’s Digital Identity Graph. Launched at FinovateSpring 2016, the Digital Identity Graph gathers information on billions of transactions collected from tens of thousands of websites to build a user’s digital identity by analyzing connections between the user, their locations, behaviors, and devices. At FinovateSpring 2017, the company’s CTO, Andreas Baumhof, and Sr. Director Product Management, Dean Weinert, launched SmartAuthentication for banks with multiple authentication methods.

Digital identity authentication company ThreatMetrix released key growth metrics today from 2016. The San Jose-based company views last year as the “strongest year in company history.”

Here are the 2016 highlights:

• Prevented more than 500 million attacks
• Protected 20 billion transactions
• Safeguarded 4,500 customers
• Helped prevent $15 billion in fraud losses
• Analyzed transactions from 4.5 billion devices (one third of which were on mobile)
• Protected 1.4 billion online accounts
• Prevented 1 billion bot attacks and 500 million fraud attacks

ThreatMetrix found particular success with financial institution clients. More than half, a total of 55%, of its new customers in 2016 were financial institutions. The company is now working with top banks across Canada, the U.S., and the U.K. Additionally, ThreatMetrix grew into more verticals, including government, healthcare, and insurance.

The company attributes its 2016 success to the increased depth and breadth of its solutions. For example, at FinovateSpring last year ThreatMetrix debuted Digital Identity Graph, a network that gathers information on billions of transactions collected among tens of thousands of websites to create a user’s digital identity by analyzing connections between the user, their locations, behaviors, and devices. The company also launched a Decision Management Portal, an Integration Hub, and a new mobile SDK last year.

ThreatMetrix, which was founded in 2006, hopes to continue its strong growth into this year. The company already has plans to open a new data center in Reykjanesbaer, Iceland. The data center will be powered by geothermal and hydroelectric sources.