authID (Nasdaq: AUID), a provider of biometric identity verification and authentication solutions, announced it has become a member of the Accountable Digital Identity Association (ADIA), an open industry association created to drive the development of a standardized, interoperable framework for decentralized identity services to “ensure the authenticity of, and to establish trust in, reusable digital identities.”
ADIA supports a uniform specification for creating and managing portable digital identities, allowing users to “leverage a single set of credentials to access multiple online services.”
This protocol is already being adopted by a number of large organizations.
As a member of ADIA, authID will support the development of the Association’s interoperability, “trust, privacy, and accountability specification.”
This framework is designed to accelerate the adoption of digital identities by companies and consumers in order to “safeguard data and prevent digital fraud.”
The solutions that utilize the ADIA specification are designed to ensure that users save time creating identities, businesses “save money managing credentials, and everyone’s private data is better protected from fraud.”
Tom Szoke, founder and CTO of authID said:
“The ADI Association has established a specification that will shape the industry’s future by driving decentralized, digital identities. Their digital identity framework supports our privacy-driven approach for all our products. ”
Ramesh Kesanupalli, co-founder of ADIA said:
“ADIA’s mission is aligned with authID’s commitment to privacy-preserving biometric solutions. We welcome authID to the ADIA ecosystem, and look forward to collaborating with authID to further strengthen the foundation of trust in digital identity verification across global markets.”
With the rise of digital customer onboarding and increasing demands for frictionless experiences, the case for “secure, reusable, portable identities has grown.”
It is estimated the global market size for shareable or reusable identity will grow from “$32.8 billion in 2022 to $266.5 billion by 2027.”
Reusable identity offers a range of benefits for both individuals and businesses, including identity verification and authentication processes, “enhanced privacy and security, reduced costs, and increased user convenience.”
authID verifies and authenticates users’ identity through its Proof and Verified identification solutions, ensuring a “one-in-one-billion false-match accuracy and industry-leading processing time of 700ms.”
By joining the ADI Association’s ecosystem, authID furthers its mission to ensure enterprises “Know Who’s Behind the Device” for every digital interaction with continuous authentication protocols at the forefront.
The partnership is intended to accelerate the adoption of secure, frictionless authentication solutions for top brands across industries while “maintaining the highest standards of privacy, security, and compliance.”
This unified alliance not only strengthens both organizations’ positions in the rapidly evolving digital identity landscape but also “aims to set new standards for secure, efficient, and user-friendly authentication processes that modern businesses demand.”
Erick Soto, Chief Product Officer of authID said:
“Joining the ADI Association represents a pivotal step for authID as we work to advance the adoption of reusable digital identities and verifiable credentials within a privacy-first framework. By joining ADIA, we are excited to drive an industry-leading standard that enables interoperability, protects individuals’ data, and fosters trust across the digital identity ecosystem.”