Two factor authentication (2FA) is certainly not a new concept. TeleSign has been in the mobile verification game since its inception in 2005. We believed in multi factor authentication so much that we created a whole website teaching people how to turn on 2FA. TeleSign is now so much more than 2FA. However, it's important to pay homage to our roots sometimes and state why we still believe so strongly in the power of phone-based verification with time-based one time passcodes over SMS and Voice. (TOTP)
Ensuring the validity of your users is extremely important in preventing fraud and securing accounts from compromise. A great way to do that is to attach a verified phone number to end-user accounts, ideally when they first register. From there, that user's identity can easily be confirmed when they access their account from a new browser or device or attempt a high-value transaction. Through TeleSign's expansive network, we have the ability to send SMS to any customer in the world, in 87 languages on the best global routes with the highest delivery and conversion rates.
But the fraud reduction of 2FA is only half the reason we use SMS to verify users, the second and arguably more important reason is to increase mobile engagement. By establishing a valid phone number for an end user, you now have an open line of communication with them to not only verify log-ins and confirm high value purchases, but also pass on information, or send a subtle reminder. If your business is running a sale or launching a new product SMS can be an extremely valuable communication tool.
We have seen TeleSign's customer engagement solutions open revenue streams for companies that equate to over seven figures per quarter. You read that right, over a million dollars simply by using SMS Verify to onboard that user and collect a valid phone number for future SMS communication.
At TeleSign we think about the entire lifecycle of the customer, so while 2FA can prevent fraud at the onset, SMS notifications can lead to much larger and lucrative opportunities. We believe that healthy interaction with your users makes them more valuable in the long run, and with TeleSign we make sure those experiences are always protected.
TeleSign currently provides mobile engagement solutions for 21 of the top 25 web properties in the world, delivering billions of secure transactions a month and with our mobile network built on the backbone of an international telco, you will never have to worry about global expansion into new markets.
Simply put, SMS can protect your users, and drive revenue for your business. 2FA and SMS are a match made in heaven, all you need to do is unleash their power.