Acclaimed cyber industry veteran will target CX and threat mitigation of at-risk transactions.
SEPTEMBER 8, 2020, NEW YORK – The Authoriti Network (“Authoriti”), an innovative provider of transaction security solutions, today announced that Mark Clancy has been named President & Chief Executive Officer. Clancy brings a rich background in executive-level positions at Fortune 100 IT organizations where he has led the fight against cybercrime.
“The Authoriti Permission Code® technology provides an innovative approach that not only mitigates the transaction security risk but improves the customer experience,” said Clancy. “Transaction crime such as fraud is continuing to spiral out of control, so I’m thrilled to have the opportunity to work with this outstanding team to tackle this important issue.”
“Mark’s experience in the cybersecurity space in unrivaled,” said Lou Steinberg, Chairman of the Board and Co-Founder of Authoriti. “We are confident that he will continue to accelerate our growth while expanding our technology to new markets and delivery channels.”
Current President & CEO Michael C. Cutlip will transition to an advisory role. “I would like extend our thanks to Mike for his service and for the strong foundation we established during his tenure,” said Steinberg. “I’m appreciative that we will continue to benefit from his advice and guidance.”
Deep Cyber Experience
Clancy’s background is highlighted by extensive experience in protecting some of the world’s most valuable networks. Just prior to joining Authoriti, Clancy was the CISO at Sprint via Sprint’s merger with T-Mobile. At those organizations, his focus was on the intersection where customer experience meets the risk mitigation of cybersecurity and fraud threats.
Previously, Clancy was CISO at Depository Trust & Clearing Corporation (DTCC), which has the most critical of infrastructures. His organization defended trillions of dollars of securities transactions per day, where availability and integrity were paramount. He also founded, grew, and sold a joint software venture between DTCC and the FS-ISAC called Soltra, which automated the exchange and action of Cyber Threat Intelligence.
As an EVP at Citigroup, Clancy led the global incident response team into combat against the active and pervasive threat of cybercrime, launching the company’s program on threat intelligence driven defense.
How the Permission Code® Platform Works
Authoriti flips the model on centralized authentication platforms that use “dumb PIN” technology by empowering users to originate “smart PINs.” The patent-pending Authoriti Permission Code® platform eliminates fraud by allowing users to easily embed both their identity and transaction details in a digitally signed, tamper-proof smart PIN.
By securing the transaction, Permission Code smart PINs can be distributed through any channel without risk of misuse. Even if a PIN is somehow intercepted, it can only authorize the specific transaction that the user originally requested. It is a true transaction-signing solution, delivering an optimized combination of security, usability and cost of ownership.
About The Authoriti Network
The Authoriti Network was founded in 2017 to create new ways of preventing identity theft, fraud, and misuse of data. Our founders have significant leadership experience dealing with InfoSec at-scale in the world's leading financial institutions. Authoriti develops the patent-pending Permission Code® platform, which uses customer-originated smart PINs to give businesses the confidence that every transaction is authorized.
For more information