Digital identity security startup Confyrm acquired by Capital One

Virginia-based diversified banking company Capital One has acquired digital fraud prevention and security startup Confyrm, announced in a blog post by Andrew Nash, CEO and Founder of the cybersecurity firm.

“We were eager to scale our efforts to help restore trust in digital identities, and we were fortunate to find a partner in Capital One, who shared our vision and commitment to improving consumer identity protection,” said Nash.

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Confyrm aims to offer privacy enhancing delivery methods for security alerts to improve digital safety without jeopardising privacy or trust, whilst the company’s Event Warning System provides notifications in the early stages of suspicious activity to reduce the impact of fraudulent activities, better protecting consumers and enterprises.

For example, if a financial services company was processing a password reset for a customer, but detected that an email account had been hacked, then Confyrm’s technology could immediately detect and prevent any further attack from occurring.

“Joining Capital One was a natural fit for the Confyrm team because of Capital One’s technology leadership, focus on improving banking for good, and our shared vision to improve the online transaction world for consumers,” Nash continued.

“Working with Capital One will allow us to massively increase the set of consumers that we can help to protect.”

As part of the merger, Nash will join Capital One, leading the firm’s Consumer Identity Services team.