Ericsson(ERIC) Prnewswire·2025-02-12 12:00Core Insights - Vonage has partnered with Lydia Solutions to enhance security and customer experience through the implementation of Vonage's Verify API and Silent Authentication, which utilizes mobile network data for seamless authentication [1][4][7] Group 1: Security and Authentication - Silent Authentication eliminates the need for traditional One-Time Passwords (OTPs), providing a more efficient and secure method of user verification [2][3] - The use of Silent Authentication significantly reduces vulnerabilities to social engineering attacks, allowing users to authenticate safely with just their phone number [3][10] - Since the implementation of Vonage Verify in October 2024, Lydia Solutions has reported improved security and user experience, safeguarding tens of thousands of users daily [4][10] Group 2: User Experience and Efficiency - The adoption of Vonage Verify has led to a notable increase in customer conversion rates and a reduction in latency by up to 50% compared to previous authentication methods [10] - The API's design minimizes user friction by removing the need for manual OTP entries, thus enhancing the overall user experience [5][10] - In case of issues, the system can seamlessly switch to other secure methods like SMS, voice, or WhatsApp, ensuring convenience for end-users [5] Group 3: Business Growth and Strategy - Lydia Solutions aims to become Europe's leading digital bank by 2030, with plans to grow its customer base in France to 5 million active users by 2027, particularly targeting young adults aged 18–34 [8][9] - The partnership with Vonage positions Lydia Solutions as a leader in the competitive European fintech ecosystem by combining innovative services with advanced authentication solutions [9][10] - The collaboration is expected to drive growth and enhance the value and trust delivered to end customers, aligning with Lydia Solutions' vision of frictionless and reliable authentication [7][9]