This is technology M&A deal number 799 that MSSP Alert and sister site ChannelE2E have covered so far in 2021.
What Is FortressID?
The acquisition expands Aware's cloud-based compliance and risk management service offerings, the buyer said. It allows Aware to use Fortress Identity's FortressID platform to help organizations mitigate risk and guard against fraud.
FortressID is a digital onboarding and compound biometric authentication platform, according to Fortress Identity. It combines onboarding validation, compliance and due diligence with biometric multifactor authentication to eliminate the need for passwords.
Organizations can use FortressID to validate drivers licenses, passports and other types of IDs from over 195 countries and across more than 7,600 document types, Fortress Identity noted. FortressID also lets organizations connect to multiple identity verification databases for fraud detection.
How Will Aware Use FortressID?
FortressID complements Aware's current offerings, Aware CEO Bob Eckel said. As such, FortressID will help Aware extend its market reach in North America and other geographies.
Meanwhile, FortressID supports Aware's ability to provide biometrics on demand, Eckel stated. FortressID strengthens Aware's position in its core markets in Latin America and Europe and expands its suite of offerings to include each link in the identity value chain.
Furthermore, FortressID allows users to leverage biometrics for login access and transaction approval, Fortress Identity stated. In doing so, the platform can help organizations enhance the user experience.
A Closer Look at Aware
Aware provides software that organizations can use for biometric identity management and verification, the company said. This software lets organizations leverage end-users' fingerprints, retina scans and other biometric factors for identification and authentication.
In addition, Aware offers a Partnership Program to identity and access management (IAM) solution providers. The program lets IAM solution providers integrate its offerings into their products and platforms.