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Cybersecurity · head to head

Authy vs ThetaRay

Authy logo

Authy

Cybersecurity

Twilio's free authenticator app with encrypted cloud backup, mobile only since the desktop clients were withdrawn in 2024.

From
Free
Rated
-
Full reviewWebsite
ThetaRay logo

ThetaRay

Cybersecurity

Unsupervised AI transaction monitoring for cross-border and correspondent banking

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Authy has a free tier, so it costs nothing to try first.
  • Each has a real cost: Authy there is no export function for stored TOTP secrets, so moving to a different authenticator means disabling and re-enrolling two-factor authentication on every account individually, which is the reason most users stay rather than a reason anyone should choose it.; ThetaRay unsupervised models are harder to justify to an examiner than explicit rules, and some regulators still expect documented threshold logic, which can force you to run both systems.
  • They diverge on capability: Authy covers Encrypted cloud backup, ThetaRay covers Unsupervised detection.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Authy and ThetaRay actually diverge.

Attributes where Authy and ThetaRay differ
AttributeAuthyThetaRay
Starting priceFreeOn request
Pricing modelfreequote
Free tierYesNo

Identical on both: platforms (Web), user rating (Not yet rated), category (Cybersecurity).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Authy

  • Encrypted cloud backup
  • Multi-device sync
  • Standard TOTP
  • Offline code generation
  • App lock
  • Multi-device toggle
  • Token organisation
  • Free with no account tier

Only in ThetaRay

  • Unsupervised detection
  • Cross-border focus
  • Sanctions screening
  • Alert triage
  • Customer risk scoring
  • Cloud native

What people use each for

The jobs each tool is most often brought in to do.

Authy

  • An individual who wants two-factor authentication on personal accounts and needs it to survive losing or replacing a phonenot ThetaRay
  • A small team sharing access to a service account where the same tokens must be available on more than one handsetnot ThetaRay
  • Replacing SMS-based codes with TOTP for someone who would abandon two-factor entirely if recovery were difficultnot ThetaRay
  • Consolidating tokens scattered across several apps onto one device list with recognisable names and iconsnot ThetaRay

ThetaRay

  • A correspondent bank that cannot see the ultimate originator and needs behavioural signals rather than counterparty listsnot Authy
  • A cross-border payments fintech whose rules engine produces more alerts than its compliance team can clearnot Authy
  • A bank under a regulatory consent order needing demonstrable improvement in detection within a fixed periodnot Authy
  • A payment institution entering a high-risk corridor where existing thresholds were calibrated on domestic trafficnot Authy

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Authy

  • There is no export function for stored TOTP secrets, so moving to a different authenticator means disabling and re-enrolling two-factor authentication on every account individually, which is the reason most users stay rather than a reason anyone should choose it.
  • The Windows, macOS and Linux desktop applications were discontinued in 2024 and stopped working, so any workflow that depended on copying codes on a computer now requires a phone in hand, and users who held tokens only on a desktop client had to restore from backup or re-enrol.
  • The account is keyed to a phone number, so an attacker who takes over that number through a SIM swap can begin the device registration flow, and the only remaining control is the backup password that most users set once and cannot recall.
  • In 2024 an unauthenticated Twilio endpoint allowed attackers to confirm which numbers from a supplied list were registered Authy accounts, exposing around 33 million phone numbers, which disclosed no codes but handed phishers a validated list of people known to use two-factor authentication.
  • It is a free consumer application inside a company that has already retired the paid Authy developer API it once supported, so it carries no revenue of its own, and users should treat its continued existence as a business decision rather than a roadmap commitment.

ThetaRay

  • Unsupervised models are harder to justify to an examiner than explicit rules, and some regulators still expect documented threshold logic, which can force you to run both systems.
  • The alert reduction claim depends heavily on your data, so a parallel run is essential and adds months and cost before you can decommission the incumbent.
  • Coverage is strongest in cross-border and correspondent flows; institutions whose risk is domestic retail fraud will find the fit weaker than a general-purpose monitoring platform.
  • It is a smaller vendor than the incumbents, so integration connectors into legacy core banking systems are often bespoke work rather than a supported adapter.
  • Model retraining and tuning are vendor-led, which means changing detection behaviour is a support conversation rather than something your own analysts can do that afternoon.

Pricing, plan by plan

Authy

Free

No published plan breakdown. See the Authy review.

ThetaRay

On request
  • ThetaRay Sonar$undefined/year
    • Priced by monitored transaction volume and number of monitored entities
    • SaaS on Azure with regional data residency options
    • Parallel run and model tuning included in onboarding

Which should you pick?

Choose Authy if

  • You need encrypted cloud backup.
  • You want to start without paying.
  • You also want multi-device sync.
Authy review

Choose ThetaRay if

  • You need unsupervised detection.
  • You also want cross-border focus.
ThetaRay review

Questions people ask

Is Authy or ThetaRay better?
Neither clearly leads. Authy starts at Free and ThetaRay at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Authy or ThetaRay?
Authy has a free tier; the other does not. Paid plans start at Free for Authy and On request for ThetaRay.
Does Authy or ThetaRay run on more platforms?
Both run on Web, so platform support will not decide this one for you.
Can I use Authy for free?
Yes. Authy has a free tier, so you can try it without paying. ThetaRay starts at On request.
What is Authy best used for?
Authy is most often used for an individual who wants two-factor authentication on personal accounts and needs it to survive losing or replacing a phone, a small team sharing access to a service account where the same tokens must be available on more than one handset, replacing sms-based codes with totp for someone who would abandon two-factor entirely if recovery were difficult, consolidating tokens scattered across several apps onto one device list with recognisable names and icons. Of those, an individual who wants two-factor authentication on personal accounts and needs it to survive losing or replacing a phone and a small team sharing access to a service account where the same tokens must be available on more than one handset are not what ThetaRay is typically brought in for.
What can Authy do that ThetaRay cannot?
Authy covers Encrypted cloud backup, Multi-device sync, Standard TOTP, Offline code generation. ThetaRay covers Unsupervised detection, Cross-border focus, Sanctions screening, Alert triage.

Answered from the vendors’ own pages

Authy: Is Authy still supported?

The mobile apps for iOS and Android are still available and functional. The desktop applications were withdrawn in 2024 and the Authy developer API has been retired in favour of Twilio Verify, so the surrounding product has been shrinking.

ThetaRay: Does it replace a rules engine entirely?

Rarely on day one. Most institutions run it alongside existing rules during a parallel period, and some keep specific regulator-mandated rules permanently.

Authy: Can I export my tokens?

No. There is no export of the underlying secrets, by design. Migrating to another authenticator means going to each service, disabling two-factor authentication and setting it up again with the new app.

ThetaRay: Where is the data processed?

SaaS runs on Microsoft Azure with regional deployment options, which is the mechanism for meeting data residency conditions in regulated markets.

Authy: What happened to the desktop app?

Twilio announced its discontinuation in March 2024 and the applications stopped working later that year. There is no replacement desktop client; the mobile apps are the product now.

ThetaRay: Is sanctions screening included?

Screening is available on the same platform but licensed as part of the commercial package rather than bundled by default. Confirm it is in your quote.

Authy: Is multi-device sync safe to leave on?

It is the feature most worth understanding. Leaving new device registration enabled means anyone who controls your phone number can attempt to add a device. The usual advice is to turn the multi-device setting off once your devices are registered and turn it on only when you need to add one.

Authy: What if I lose my phone and forget the backup password?

The secrets are encrypted with that password and Twilio does not hold it, so they cannot be recovered. You would fall back to each individual service's account recovery process, which is exactly the situation the backup was meant to avoid.

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