Prove Identity Debuts Second-Factor Authentication in Brazil with OZ Corretora de Cambio

Identity authentication services company Prove Identity has begun offering its services in Brazil, with its first customer in the region being OZ Corretora de Câmbio, which works with foreign exchange services, a press release said.

OZ Corretora de Câmbio will use Prove’s second-factory authentication service Instant Link, which verifies possession and trustworthiness for phones in digital transactions, and Trust Score, which is a real-time measure of a phone number’s reputation, which also fights fraud by analyzing behavioral and cryptographic authentication signals from sources.

OZ Corretora de Câmbio will also use Prove’s Identity Verify, which will validate information from consumers’ onboarding and confirm phone number ownership. The tool is used to cut down on bad actors, prevent fraudulent accounts and cuts down on user friction.

“We are thrilled to bring our product offerings to Brazil, which has become a hotbed for innovation in digital banking and payments,” said Paulo Nascimento, Head of Latin America at Prove. “Our solutions help prevent both sophisticated and common forms of fraud, including SIM swap fraud, account takeover fraud, and synthetic ID fraud, while streamlining the customer experience, and allowing for simple customer adoption. Businesses in this region can now leverage these powerful new tools to secure high-risk events, and protect consumers from digital threats.”

Rodrigo Xavier Soares, CEO of OZ Corretora de Câmbio, said Prove’s services helped the company roll out its Forex as a Service application, which will expand the options for exchange operations for all kinds of customers.

Prove Identity’s services have also been in use by gaming industry supplier Everi, PYMNTS wrote recently.

Read more: Everi Deploys Prove’s Identity Solutions for Casino Transactions

Everi’s Digital CashClub Wallet helps casino operators get funding for gaming devices, payments at POS machines and gives customers ways to access funds on the casino floor.

Prove’s identity solution will offer the Trust Score service to assess phone number reputation.