A pair of Finovate alums have announced plans to “tie the knot” this week. Intelligent Identity solution provider Ping Identity has agreed to acquire fraud and bot detection and mitigation specialist SecuredTouch. Terms of the transaction were not immediately available.
By leveraging a variety of enabling technologies – including machine learning, AI, behavioral biometrics, and deep learning – SecuredTouch’s technology empowers fraud and risk teams to identify suspicious and potentially malicious behavior across all digital entities. The acquisition will integrate SecuredTouch with Ping Identity’s PingOne Cloud Platform, giving business customers the ability to better understand and prevent malicious activity. Customers will have the option of using SecuredTouch as a standalone solution or as part of the PingOne platform.
Ping Identity founder and CEO Andre Durand said that the acquisition “accelerates” the company’s mission to provide cloud-based identity and anti-fraud solutions to businesses to help them fight a wide range of cyberthreats ranging from emulators to account takeover.
“Identity isn’t just about knowing who your customers are, it’s about knowing when someone is pretending to be a customer,” Durand explained. “As companies undergo massive digital transformation initiatives, the need for seamless, frictionless, and secure identity solutions to confidently understand both those situations is imperative.”
Ping Identity made its Finovate debut at our first European fintech conference in 2012. In the years since, the Denver, Colorado-based company has become the identity management solution provider of choice for 60% of the Fortune 100 and forged partnerships with technology companies like Microsoft and Amazon. Most recently, Ping Identity collaborated with ProofID to enhance identity security for Tesco Bank, the banking division of Tesco, the largest supermarket retail chain in the U.K.
Headquartered in Ramat Gan, Israel, SecuredTouch demonstrated its behavioral biometrics technology at FinovateFall 2018. The company’s solution analyzes more than 100 different behavioral behaviors – from scroll velocity to touch pressure – to create a unique user profile that benefits from continuous verification. Winner of Best Product at the Loyalty Security Association Lion’s Den event this spring, SecuredTouch earned a patent for its continuous use authentication in 2019.
“This is a defining moment for our industry as identity security and fraud come together,” SecuredTouch CEO Alasdair Rambaud said of this week’s acquisition news. “Ping Identity’s enterprise proven and robust platform provides the perfect foundation for SecuredTouch’s advanced fraud detection capabilities.”