|By Marketwired .||
|August 14, 2014 06:00 AM EDT||
SAN JOSE, CA -- (Marketwired) -- 08/14/14 -- Danal Inc., the pioneer in mobile identity as a service, and Locaid, the world's largest location service provider, announced today a partnership launching a powerful set of mobile authentication products targeted towards financial institutions and enterprises. This new offering combines the location tracking abilities of Locaid with the mobile identification tools of Danal to introduce products that reduce fraud without compromising user experience.
This secure and trusted location based Mobile Identity platform allows banks and other financial institutions to confidently perform risk analysis on transaction attempts at retail Points-of-Sale (POS) locations and at foreign or infrequent bank ATMs. With the dual verification of phone location coupled with mobile identification, financial institutions can significantly reduce fraud.
Locaid provides a carrier-approved service to obtain a user's phone location after attaining appropriate consent from the user. While multiple vendors claim to support location capabilities, many use an approach that utilizes carriers' SS7 communication protocol which is not commercially approved for obtaining mobile location. Carriers around the world are actively shutting down such vendors that use this unauthorized channel.
"Our system is fully compliant with all carrier policies around consent and usage, thereby giving users full control and transparency to manage the way in which their location is accessed," commented Rip Gerber, Chairman and CEO of Locaid.
"Partnering with Locaid has given our clients a full suite of capabilities to enhance their fraud and risk products," said Jim Greenwell, President and CEO of Danal Inc. "Danal and Locaid have constructed a financial grade platform to combat fraud that is unlike anything else available in the market today."
About Danal Inc.
Danal Inc. is the premier provider of carrier-integrated mobile commerce solutions worldwide, enabling the purchase of goods and services on PC, tablet, and mobile phones using their BilltoMobile platform. Danal Inc.'s data services utilize direct connections with US tier-1 Mobile Operators, enabling businesses to reduce input friction, lower risk and drive sales. Danal Inc. is the US subsidiary of Danal Co. Ltd. (KOSDAQ: 064260), the pioneer and global leader in e-commerce mobile payments globally, having processed an unmatched $7 billion in transactions for over 10,000 merchant partners. Danal Inc. is a privately held company headquartered in San Jose, California, and Danal Co. has offices worldwide.
About Locaid, Inc.
Locaid is the world's largest LaaS (Location-as-a-Service) company. Locaid runs "location in the cloud" with the most robust, privacy-protected, Omni-Location platform available. Locaid can determine the physical location of your customers, employees or assets, anywhere, instantly. With a footprint that extends to over 5 billion connected devices across the globe, including network mobile location on over 360 million mobile devices, Locaid helps enterprises and developers be hyper-local, reduce fraud, increase productivity, gain consumer insight, comply with regulations, drive revenue and save lives. Locaid is the largest and preferred location gateway for the major carriers in the Americas including AT&T, Boost Mobile, Cricket, Rogers, Sprint, TELUS, T-Mobile, U.S. Cellular, Verizon and others. The world's biggest brands, agencies, financial institutions, software companies, enterprise infrastructure providers, mobile app developers and M2M platforms get location from Locaid.
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