Anonybit and Scamnetic Partner to Strengthen Financial Scam Defense

New York, NY — Anonybit, a leader in privacy-preserving biometric authentication, today announced a strategic collaboration with Scamnetic, an innovative platform combating financial scams, to deliver a privacy-preserving biometric scam prevention solution aimed at preventing account takeover, fraud, and scam-related losses in digital banking.

Financial scams are escalating, with global losses estimated at $5 trillion annually. Traditional methods like OTPs, SMS, and knowledge-based authentication often fail against sophisticated social engineering attacks, leaving consumers and institutions vulnerable. Scams are particularly challenging because victims are often emotionally pressured into making transactions. While AI-driven scam alerts can identify suspicious activity, users still need a secure way to verify the identity of the person requesting funds before taking action. By slowing the process and providing trusted verification, the chances of preventing fraud increase significantly.

For the first time, Scamnetic is enabling this type of peer-to-peer verification through its IDeveryone offering, which leverages Anonybit’s biometric platform to preserve user privacy. The service allows consumers to confirm the legitimacy of the person on the other side of a transaction before sending money. Using Anonybit’s biometrics, verification occurs in just 200 milliseconds with greater than 99.999% assurance, all while keeping user data secure and compliant.

“Anonybit and Scamnetic together can help financial institutions deliver comprehensive protection against today’s relentless scam, identity, and cybertheft threats,” said John Evans, COO of Scamnetic. “Anonybit’s strong, privacy-preserving biometric solution for user authentication and Scamnetic’s AI-powered digital threat protection solution are a powerful combination to keep user accounts and assets safe. We’re excited for what’s ahead.”

The combined solution addresses key gaps in existing scam prevention methods by:

• Giving consumers a secure way to respond to requests for money.
• Detecting and mitigating scam activity before financial loss occurs.
• Maintaining privacy and regulatory compliance for all users.

“Combining Scamnetic’s scam detection technology with Anonybit’s privacy-preserving biometric platform creates a solution greater than the sum of its parts,” said Frances Zelazny, Co-Founder and CEO of Anonybit. “Financial institutions now have a powerful tool to protect their customers without adding friction to their experience.”

With banks preparing to offer IDeveryone to their customers, the partnership also opens the door to broader enterprise use cases, including:

• Passwordless login across digital banking channels.
• Step-up authentication for high-risk transactions.
• Self-service account recovery for compromised users.
• Transaction verification and agent-assisted flows across multiple touchpoints.

About Anonybit
Anonybit is a pioneer in privacy-preserving biometrics, providing a next-gen identity platform that secures the entire user journey. From onboarding to passwordless login, step-up authentication, account recovery, and beyond, Anonybit’s patented distributed architecture ensures that personal data is never stored in a single location, mitigating the risk of breaches and account takeover fraud. Supporting multiple biometric modalities and omni-channel capabilities, Anonybit not only bolsters security but also enhances user experience. As the market increasingly demands secure, privacy-focused solutions, Anonybit’s technology is becoming the preferred choice for banks, fintechs, and enterprises worldwide. To learn more, visit anonybit.io.

About Scamnetic
Scamnetic is dedicated to protecting individuals and businesses from digital threats using advanced AI technology. Its mission is to make digital interactions safe and secure, providing peace of mind in an increasingly complex digital world. Scamnetic investors include Roo Capital, 1st and Main Growth Partners, SaaS Ventures, Riptide Ventures, Ruxton Ventures, Ori Eisen, Ken Levine, and other angel investors. For more information visit scamnetic.com.