Identiq, the world’s first Peer-to-Peer Identity Validation Network, today announced that it has been recognized in the Cool Vendors in Privacy, 2020 report published March 17, 2020 by Gartner, Inc.
The report identifies Identiq as a Cool Vendor. It states, “As privacy laws evolve globally, the vendor landscape has developed with innovative solutions that help security and risk management leaders respond to key requirements. We profile three vendors who show the breadth of capabilities required to improve a privacy program’s effectiveness.”
Identiq has developed the first and only truly anonymous verification network, which enables companies to work together to validate identities without sharing or exposing any personal customer data. The network is built on the company’s proprietary FAIR technology, which uses sophisticated and proven cryptographic algorithms to anonymously compare new user data against identities already trusted by other network members while preserving customer privacy.
“We believe that being named a Cool Vendor by Gartner is an honor for any young company, but for a fraud prevention solution to be named in the Privacy category speaks volumes,” said Itay Levy, Founder and CEO of Identiq. “In our opinion, other identity verification tools operate by collecting, storing and sharing massive amounts of customer data. We do the exact opposite, enabling businesses to work together – without accessing or exposing any private data – to protect themselves and their customers from fraud, ID theft and bad actors online.”
He continued, “For us, privacy is a powerful enabler: it is precisely because our network is truly anonymous that it is so effective at fighting fraud and, even more importantly, positively identifying real customers. No user is ever really new – real users are known and trusted by other companies. This trust can be leveraged, and the user receives an ideal user experience.”
Gartner, “Cool Vendors in Privacy, 2020,” Bart Willemsen, Nader Henein, Bernard Woo, 17 March 2020.
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Identiq is a peer-to-peer identity verification network that allows its members to validate new users and vouch for ones they trust without sharing any customer data or identifiable information whatsoever. This providerless solution takes third-party data providers out of the equation, instead leveraging the consensus of other network members and setting a new standard for end-user privacy. Identiq enables companies to accurately fight fraud and identify good users – reducing false positives, increasing approval rates and creating a better user experience.