iDGate has developed an identity authentication system for online and mobile transactions that does not require a one-time-password via Short Message Service (SMS) or security device. The company leverages a multi-factor authentication process to send a push notification on behalf of the financial institution whenever a financial transaction is initiated that allows users to authenticate it via their smartphones. The aim is to provide better security and an easier-to-use experience to everyday users and to save financial institutions money, since the service is less expensive than the cost of using a security device or sending multiple SMS.