Prove launches enterprise trust exchange to extend reusable digital identity’s reach

A new digital trust exchange introduced by Prove brings together verified customer data and credentials from partners, and uses the company’s tokenized digital identity framework to reduce customer reverifications.

Prove’s initial partners in the ProveX network are Trinsic, Checkr Trust, Nova Credit, Skipify and Wyzia. They and other enterprises can instantly access verified customer data and credentials from these trusted partners for a range of transactions. Businesses can request payment credentials for instant checkout, credit signals to tailor specific offers, or compliance credentials for easy customer onboarding, according to the announcement.

The network issues a Prove Key, which is a cryptographic key bound to the user’s device, and Prove ID reusable digital identity tokens, and uses them to bind each request to an authenticated user.

Authentication can include device signals, push notification or on-device biometrics.

“Digital experiences have been held back by one fundamental issue: trust breaks between interactions,” says Ashley Kiolbasa, CMO of Prove. “When identity becomes continuous instead of episodic, businesses can finally move at the pace customers expect. ProveX turns verified identity into an always-on foundation for accessing trusted services, enabling experiences that are safer, smarter, and materially more streamlined.”

Partners can request to be added to the network once they are certified as “Prove Ready,” a designation Prove bestows after evaluating the business’ security, interoperability, digital identity binding and data governance practices.

Trinsic says in an announcement of its participation in ProveX that its involvement as a launch partner helps to extend the reach of reusable digital identity for real-world use cases.

“Joining ProveX was a clear strategic move; connecting once to the Identity Graph allows us to instantly provide our verified payment services across Prove’s massive ecosystem, dramatically collapsing our time-to-revenue and elevating the trust in every transaction,” says Glen Sgambati, President of fintech payments accelerator Wyzia.

The Prove Identity Graph was just launched in October to enable enterprises to exchange tokenized identity data.

Article Topics

biometric binding  |  continuous authentication  |  digital identity  |  Prove  |  ProveX  |  reusable digital ID  |  tokenization  |  Trinsic