Summary: Prove Identity, a startup specializing in digital identity verification and authentication, has raised $40 million in funding. The New York-based company, previously known as Payfone, offers smartphone-based technology that enables frictionless consumer experiences while maintaining security standards against fraud. Prove Identity's platform has been adopted by major banks, retailers, and healthcare institutions, and boasts impressive results such as faster onboarding, reduced abandonment rates, and a significant decrease in fraud.

Hashtags: #ProveIdentity #Funding #DigitalIdentity #Verification #Authentication #SecurityStandards #FraudPrevention

https://www.securityweek.com/prove-identity-snags-40m-funding-for-id-verification-tech/