Anonybit has joined NayaOne’s Tech Marketplace, enabling financial institutions to test its decentralized biometric identity platform. This collaboration accelerates fintech innovation by addressing fraud, streamlining identity management, and enhancing compliance. NayaOne’s sandbox environment fosters low-risk experimentation, empowering banks to adopt cutting-edge solutions like Anonybit for secure, seamless, and privacy-enhancing user experiences.
ANONYBIT JOINS NAYAONE TECH MARKETPLACE TO ACCELERATE FINTECH INNOVATION
NayaOne’s innovation hub enables low-risk experimentation of next generation decentralized biometric identity platform for enhanced security and fraud prevention
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Naya One, the leading B2B enterprise technology adoption platform, announced that Anonybit, a leader in privacy-enhancing biometric technologies, has joined its NayaOne Tech Marketplace. Going beyond a typical marketplace, NayaOne is a platform that helps both banks and vendors accelerate innovation and bring solutions to market more efficiently. The partnership with Anonybit offers financial institutions a quick way to test and validate the award-winning, decentralized biometric identity platform for combating fraud, streamlining identity management, and enhancing regulatory compliance, transforming the way identity is managed in financial services.
Solving Critical Challenges in Financial Services
Fraud, scams, and identity theft cost global banks a staggering $28.5 billion last year, marking a 25% year-over-year increase. In parallel, the push for data privacy and open banking compliance has heightened the urgency to find innovative solutions.
While many institutions seek to leverage biometrics, traditional systems often pose risks by creating centralized honeypots vulnerable to breaches. Anonybit’s platform eliminates these risks by decentralising biometric data storage, ensuring privacy and security at scale.
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Via large-scale deployments, Anonybit has proven to help Tier 1 banks and fintechs to:
- Prevent Fraud: Detect duplicate accounts and block account takeover attempts and other fraudulent activity.
- Meet Compliance: Simplify adherence to stringent data protection regulations.
- Streamline User Experiences: Eliminate passwords and deliver secure, seamless interactions across all touchpoints, including online, in-person, and call centres.
“Our solution harnesses a new class of privacy-enhancing technologies to revolutionize identity management, eliminating centralized honeypots and outdated practices like passwords,” said Frances Zelazny, Anonybit Co-Founder and CEO. “Given its novel approach, banks often want to test the platform before committing to a full deployment. NayaOne’s Sandbox Platform makes it easy for financial institutions to test how Anonybit can be used to prevent duplicate identities and manage blocklists, secure ACH and wire transfers, streamline account recovery and enable passwordless login – all while evaluating real-world outcomes. This hands-on experience builds trust, fosters understanding, and accelerates adoption—because seeing is believing.”
NayaOne’s Tech Marketplace enables financial institutions and large enterprises to connect with a network of pre-vetted, industry-leading Fintech vendors. The process of identifying and selecting the right vendors can be lengthy and complex, often requiring significant research and validation. With NayaOne, banks can quickly explore and test new technologies without the usual onboarding delays. To support these technical proof of concepts, the platform provides access to customised synthetic data and secure, independent sandbox environments, allowing teams to trial solutions and collaborate with vendors to ensure seamless integration with their existing technology infrastructure.
“Financial institutions are navigating a landscape of rising fraud and growing compliance demands, and innovative solutions like Anonybit are essential to addressing these challenges,” said Karan Jain, CEO of NayaOne. “By bringing Anonybit’s cutting-edge decentralised biometric platform into the NayaOne Tech Marketplace, we’re enabling our customers to quickly experiment with the latest capabilities around strong authentication and adopt solutions that redefine identity management across a range of enterprise use cases. Together, we’re empowering banks to deliver safer, faster, and more customer-centric experiences while reducing operational risks.”
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Source – PRWeb
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