Anonybit

Fraud Solution Profile

Anonybit is the leading decentralized identity platform that prevents data breaches and fraud leveraging cutting-edge techniques like Multi-Party Computation (MPC) and Zero Knowledge Proof (ZKP) to protect PII and user biometrics.  Anonybit provides robust solutions to one of the most critical obstacles in preventing fraud – safely storing biometrics collected at onboarding to be used consistently across the user lifecycle, regardless of device, use case or application.

Here’s how Anonybit stands out:

Key Features and Capabilities

• Comprehensive Biometric Modality Support: Anonybit supports a wide range of biometric modalities, including face, voice, iris, and palm recognition. This diversity empowers organizations to implement biometrics in online, in-person, and call-center environments, facilitating use cases such as biometric payments, wire/ACH verification and identity verification.
• Privacy-Enhancing Framework: Ensures that sensitive data is never stored in a single location. Instead, biometric data is sharded and stored as anonymized bits that are distributed across a multi-cloud environment, and never reconstructed. 
• Versatile Fraud Prevention Tools: The only privacy-enhancing platform that integrates the user lifecycle with solutions for deduplication and blocklisting at onboarding, passwordless login, step-up authentication, and account recovery. 
• Scalability for Enterprise Use Cases: Built for large-scale adoption, fast response times and future proofing, Anonybit serves major enterprises, including a Top Tier LATAM bank. The platform’s flexibility allows solution providers to integrate their algorithms seamlessly, to accommodate specific performance requirements.

Benefits

1. Enhanced Privacy and Compliance with stringent privacy laws like GDPR and CCPA 
2. Closes the gaps that attackers exploit by unifying the user lifecycle with persistent biometrics
3. Eliminates passwords, PINs, OTPs and other weak device-based authenticators that can be phished out of people
4. Easy implementation as a service layer that can support a wide range of enterprise use cases including 1:N, 1:1 and secure storage of any data type