iovation Acquires LaunchKey, Combines Global Fraud Intelligence and Transparent Authentication With Dynamic Multifactor Authentication

PORTLAND, OR and LAS VEGAS, NV--(Marketwired - Sep 6, 2016) - iovation, the leading provider of device-based solutions for authentication and fraud prevention, today announced the acquisition of multifactor authentication company LaunchKey. The acquisition of LaunchKey brings together three proven next-generation technologies -- LaunchKey's interactive multifactor authentication (MFA), iovation's transparent device-based authentication and iovation's global fraud database. The move also marks the launch of the new iovation LaunchKey MFA solution, a powerful and flexible all-in-one toolkit that gives businesses the right authentication method for every touchpoint in their customer's journey, including online, mobile, call center and in-person.

LaunchKey MFA is the first service to allow businesses to enable their consumers to select the authentication and authorization methods they prefer, while businesses can dynamically change the amount of authentication required from their customers, at any given time. Having this type of flexibility on both sides of the equation is very unique to the iovation and LaunchKey solution. Here's how it works:

1. Businesses select the authentication factors to make available to consumers, including slide authentication, fingerprint verification, PIN or circle codes, Bluetooth® device proximity, and many other factors of authentication.
2. Consumers link their mobile devices and choose their preferred authentication methods for any given account.
3. Businesses push real-time authentication requests to consumers to obtain their authorization for remote login and logout, real-time transaction approval, and on-demand identity verification for websites, mobile apps, kiosks, and other online applications.
4. As warranted, businesses can dynamically adapt the level of authentication required of consumers in real time, allowing for a frictionless experience for low risk activities, and requiring stronger authentication for higher risk activities like a wire transfer.

"With LaunchKey, iovation now has a decentralized mobile authentication platform for dynamic multifactor authentication and real-time authorization. iovation will enable organizations to control authentication requirements while giving their customers the ability to choose where, when and how they want to be authenticated," said iovation CEO Greg Pierson. "Organizations can augment their existing username and password-based authentication process or do away with passwords completely, and leverage the mobile device their customers already own, plus any number of additional authentication factors."