Digital payment and online banking are all about striking the right balance between customer convenience and security. People expect it to be easy, so a complicated authentication process will turn them away. Luckily, onboarding users with COVR’s Multi-Factor Authentication API is not a problem. With this API, they can authenticate their payment directly from their smartphone without interrupting their flow.
COVR’s Multi-Factor Authentication API enables fast and convenient user authentication on smartphones. It keeps you and your users protected from all types of fraud and impostor activity, like identity theft, credit card hijacking, skimming and phishing. Even in risky settings like public wifi and unknown, unprotected networks. The API facilitates compliance, user retention and growth by providing stable and secure authentication and supporting user-friendly onboarding.
The Multi-Factor Authentication API is designed to help you to:
1. Comply with laws against money laundering, financial crime and enhanced privacy for individuals.
2. Defend and protect from online fraud and identity theft.
3. Facilitate people’s expectations on convenient, fast, secure signup and account login experiences.
Upgrade security with user-powered control and push notifications
Enable your end-users to actively protect their digital identity. With the Multi-Factor Authentication API, they control what information they share and with whom.
Thanks to push notifications instead of passwords, the onboarding and login process are a piece of cake. Once the user has logged in, the in-app verification alerts give the user the option to accept or deny authorization with a single tap.
One solution for every authentication scenario
COVR’s API is developed for any industry in need of strong end-user authentication and can be applied throughout all user groups – employees, end-users and third-parties. It works seamlessly across all platforms, applications and use cases. It also lets you authenticate end-users and authorize access throughout all of your business applications quickly.
The unique benefits
1. Benefit from passwordless authentication to access to sensitive information and money transactions.
2. Activate two or more authentication methods to protect your users from every threat.
3. Authenticate and onboard users with QR codes for a smooth end-user experience.
4. Allow users to authenticate themselves to sign contracts, loans and other legal documents.
Fast implementation, scalable and cost-efficient
COVR needs a minimum of infrastructure to scale for unlimited users simultaneously and plugs into existing systems with minimal modification. There’s no need for additional, expensive hardware.
Credit card security
Does your company issue credit cards? Then you know it’s a complicated process for both customer and issuer to re-approve a transaction that has been denied. It involves phone calls, security questions, identity document verifications or other payment methods.
With the Multi-Factor Authentication API, you can allow the credit cardholders to authorize the transaction themselves. This eliminates the problem with payment rejection and false-positive denials. Every smartphone can be reached by the bank in seconds, anywhere in the world. It is also registered to send authorization request push notifications with a response time of a couple of seconds. The result: seamless card transactions, and fully trusted, accepted purchases – both by the bank and its customers.
Reusable identity validation and account recovery
Dealing with stolen credit cards, lost smartphones or hacked accounts? Recovering all the lost data from each online service could be a lengthy and costly task.
With this API, recovery processes run fast, easy and secure. After a new identity verification is done, COVR can reconnect the user with their existing digital identity. Including all their history, transactions and various accounts. As nothing is ever lost, the user can continue to build their online reputation.
