Enables seamless and efficient authentication
using mobile network data
HOLMDEL,
N.J., Feb. 12, 2025 /PRNewswire/ --
Vonage, a global leader in cloud communications helping
businesses accelerate their digital transformation and a part of
Ericsson (NASDAQ:ERIC), today announced that Lydia Solutions,
one of Europe's fastest-growing
mobile financial services platforms, has enhanced its security and
customer experience with Vonage's powerful Verify API and Silent
Authentication powered by the network. By leveraging the solution,
Lydia Solutions has protected the data and privacy of tens of
thousands of users daily, and experienced improved customer
conversion rates—setting a new standard for secure, effortless
authentication.
Elevating Security with Silent Authentication
As a channel within Vonage Verify, Silent Authentication removes
the need for traditional One-Time Passwords (OTPs). By
automatically verifying users through their mobile network
operators using data from their smartphones' data connection,
authentication becomes seamless and efficient.
Using Silent Authentication as a primary verification channel
eliminates vulnerabilities to social engineering attacks, enabling
Lydia Solutions users to safely authenticate with just their phone
number, ensuring peace of mind for customers while improving
customer experience with frictionless authentication.
"Vonage Verify with Silent Authentication has been a real
innovation for us," said William
Brulin, senior VP at Lydia Solutions. "The solution has
elevated our ability to deliver a simpler, seamless and more secure
user experience while protecting against increasingly sophisticated
threats and fraud patterns. With Vonage, we're
safeguarding tens of thousands of users every day while improving
conversions and reducing costs—a true win for both our customers
and our business."
Transforming the User Experience
By adopting Vonage Verify, Lydia Solutions has significantly
improved the user experience for its customers. The API removes the
need for manual OTP entries which are often prone to frustrating
mistakes, and guarantees seamless authentication via Silent
Authentication. If need be, it can failover to other secure methods
like SMS, voice, or WhatsApp, minimizing disruptions and
maintaining convenience for end-users.
Key results since Lydia Solutions went live with Vonage
Verify in October 2024,
include:
- Enhanced user experience: Increased conversion
rates.
- Significant time savings: Up to 50% reduction in latency
when compared to Lydia Solutions's previous authentication
services.
- Improved security: Social engineering attacks based on
OTP sharing are virtually eliminated thanks to Silent
Authentication.
- Improved total cost of ownership (TCO): Controlled
authentication-related costs help maximize efficiency.
"At Vonage, we're passionate about helping forward-thinking
companies like Lydia Solutions create secure, user-friendly
experiences," said Seckin Arikan,
Head of Business Unit API at Vonage. "With Vonage Verify and Silent
Authentication, we're thrilled to support Lydia Solutions's vision
of delivering frictionless, reliable authentication that scales
with its rapidly growing user base. By opening up the network's
capabilities to build applications with advanced security features,
we enable enterprises like Lydia Solutions to not only enhance
their internal operations but also deliver enhanced value and trust
to their end customers."
Driving Growth as a Digital Banking Pioneer
This collaboration comes at a pivotal time as Lydia Solutions
continues to expand its footprint, aiming to become Europe's leading digital bank by 2030. With
the recent launch of its mobile banking app, Sumeria, Lydia
Solutions plans to grow its customer base in France to 5 million active users by 2027,
particularly among young adults aged 18–34.
By combining Lydia Solutions's innovative services with Vonage's
advanced authentication solutions, the partnership paves the way
for a secure, user-first approach to digital banking—positioning
Lydia Solutions as a leader in Europe's competitive fintech ecosystem.
For more details about Vonage Verify, visit www.vonage.com.
About Vonage
Vonage, a global cloud communications
leader, helps businesses accelerate their digital transformation,
providing a comprehensive set of engagement solutions to deliver
richer, more personal and meaningful communications across the
entire customer and employee experience.
Vonage's Unified Communications as a Service (UCaaS) and Contact
Center as a Service (CCaaS) solutions enable companies to transform
how they communicate and operate from the office or anywhere.
Vonage's Communications Platform as a Service (CPaaS) offering is
fully programmable and allows developers to embed video, voice,
chat, messaging, AI and verification into existing products,
workflows and systems using communications APIs. Leveraging the
power of the network, Vonage's CPaaS is expanding to incorporate
new network capabilities exposed as APIs to help developers
worldwide pioneer new, advanced applications that help enterprises
reimagine their business, improve customer experiences, and create
more effective engagements.
Vonage is a wholly-owned subsidiary of Ericsson (NASDAQ: ERIC),
and a business area within the Ericsson Group called Business Area
Global Communications Platform. To follow Vonage on LinkedIn, visit
linkedin.com/company/Vonage/. To become a fan on Facebook, go
to facebook.com/vonage. To subscribe on YouTube,
visit youtube.com/vonage.
About Lydia Solutions
Lydia Solutions, the company behind the Lydia and Sumeria
applications, is powered by 250 employees based in Paris, Nantes, Lyon and Bordeaux. When it launched in 2013, it
undertook the mission of setting new standards for P2P payments, by
offering an ultra-simple, secure, and universal payment
experience.
The company is a major player in the French financial technology
landscape: it is listed in the FT120 programme and is backed by
international investors such as Accel, Tencent, XAnge, New Alpha, Groupe Duval, and
Founders Future, from whom it has raised €235 mm.
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SOURCE Vonage
