Key facts
- FIS and Equifax jointly created OnlyID, a digital
authentication solution that helps protect consumers’ identities
and allows them to securely make transactions across multiple
online accounts.
- Without need of passwords, consumers access OnlyID with a
single registered identity through their preferred financial
institutions and e-retailers that join the OnlyID Network.
- The OnlyID Network consists of authenticated consumers who use
a universal digital representation of their identity to interact
with businesses in the network.
FIS™ (NYSE: FIS), a global leader in financial services
technology, and global information solutions company Equifax®
(NYSE: EFX) have teamed up to improve consumer experiences by
bringing new levels of convenience and security to consumers
challenged with maintaining multiple usernames and passwords to
protect themselves from financial fraud and identity theft.
The two companies jointly offer OnlyID, an identity verification
solution that provides a higher level of account protection and
personal control through a single, secure digital log-in,
consisting of the consumer’s thumbprint or another unique
identifier. This identity solution, which can be used across
multiple accounts, will be offered by financial institutions and
e-retailers who participate in the OnlyID Network. In addition to
providing security and convenience to consumers, OnlyID benefits
financial institutions and businesses by helping them reduce fraud
claim costs, provide better digital experiences and increase
consumer loyalty.
“Imagine if you no longer needed passwords to protect your
digital identity because you had a unique, protected identifier
that only you could use at the places where you bank and shop,”
said Bruce Lowthers, head of FIS Payments. “OnlyID from FIS and
Equifax brings the power of advanced authentication technologies to
make consumers’ financial lives simpler, while providing secure
protection against fraud.”
“OnlyID combines powerful predictive analytics with risk scoring
models that generate a frictionless fraud assessment, without
disruption to consumers or businesses,” said Trey Loughran,
president USIS, Equifax. “Our collective unique data assets,
innovation and depth of expertise across Equifax and FIS enabled us
to create a solution that will advance digital security over the
web and via mobile devices.”
“Passwords not only provide little security, they also result in
cumbersome and clunky user experiences, particularly in the mobile
environment,” said Julie Conroy, research director, Aite Group.
“The next generation of digital security leverages authenticators
such as device-based security and biometrics, which provide greater
levels of security as well as a better consumer experience.”
Equifax and FIS, both trusted data stewards with powerful
identity authentication and analytics capabilities, deliver
anti-fraud solutions to thousands of financial institutions. This
joint effort will advance digital security and uniquely positions
them to deliver a powerful, universal authentication service
through OnlyID. The two companies plan to co-market the OnlyID
solution to banks, credit unions, retailers, telecommunications
providers, utilities and other businesses.
For more information about OnlyID from FIS and Equifax, visit
MyOnlyID.com.
About FIS
FIS is a global leader in financial services technology, with a
focus on retail and institutional banking, payments, asset and
wealth management, risk and compliance, consulting, and outsourcing
solutions. Through the depth and breadth of our solutions
portfolio, global capabilities and domain expertise, FIS serves
more than 20,000 clients in over 130 countries. Headquartered in
Jacksonville, Fla., FIS employs more than 53,000 people worldwide
and holds leadership positions in payment processing, financial
software and banking solutions. Providing software, services and
outsourcing of the technology that empowers the financial world,
FIS is a Fortune 500 company and is a member of Standard &
Poor’s 500® Index. For more information about FIS, visit
www.fisglobal.com.
Follow FIS on Facebook (facebook.com/FIStoday) and Twitter
(@FISGlobal).
About Equifax
Equifax is a global information solutions company that uses
trusted unique data, innovative analytics, technology and industry
expertise to power organizations and individuals around the world
by transforming knowledge into insights that help make more
informed business and personal decisions. The company organizes,
assimilates and analyzes data on more than 820 million consumers
and more than 91 million businesses worldwide, and its database
includes employee data contributed from more than 7,100
employers.
Headquartered in Atlanta, Ga., Equifax operates or has
investments in 24 countries in North America, Central and South
America, Europe and the Asia Pacific region. It is a member of
Standard & Poor's (S&P) 500® Index, and its common stock is
traded on the New York Stock Exchange (NYSE) under the symbol EFX.
Equifax employs approximately 9,900 employees worldwide.
Forward-Looking Statements
This press release may contain statements, estimates or
projections that constitute “forward-looking statements” pursuant
to the safe harbor provisions of the U.S. federal securities laws.
Generally, the words “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “project,” “will” and similar expressions identify
forward-looking statements, which generally are not historical in
nature. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from FIS’ historical experience and our present expectations or
projections. These risks include, but are not limited to, changes
in general economic, business and political conditions,
developmental and conversion delays or disruptions inherent with
new software products, technology and outsourcing solutions, and
risks of reduction in revenue from the elimination of existing and
potential customers due to consolidation in or new laws or
regulations affecting the banking, retail and financial services
industries, changes in the growth rates of the markets for our
solutions, and other risks detailed in our filings with the
Securities and Exchange Commission (SEC), including the “Risk
Factors” section of our Annual Report on Form 10-K for the year
ended December 31, 2016, and subsequent SEC filings. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. FIS undertakes no obligation to
publicly update or revise any forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170823005057/en/
Kim Snider, 904.438.6278Senior Vice PresidentFIS Global
Marketing and Communicationskim.snider@fisglobal.com
Fidelity National Inform... (NYSE:FIS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Fidelity National Inform... (NYSE:FIS)
Historical Stock Chart
From Sep 2023 to Sep 2024