Ipsidy Inc (OTCQB:IDTY) announced an expansion Thursday of its Identity-as-a-Service (IDaaS) offerings to include AuthentifID, which provides a passwordless login tied to a trusted identity.
The re-use of the same passwords by users across multiple systems and other weak authentication practices are leading causes of security breaches, the company said. Because passwords do not directly verify the authenticity of a user’s claimed identity, hackers can use compromised passwords as a gateway into enterprise systems.
To counter potential identity and financial fraud, Ipsidy delivers FIDO2 password-free authentication, a set of standards that enables easy and secure logins to websites and applications via on-device PINS or biometrics. FIDO2, quickly becoming the de facto standard, delivers an easier, more secure login experience and is far superior to passwords in protecting networks and their users, the company said.
OTCQB:IDTY) announced an expansion Thursday of its Identity-as-a-Service (IDaaS) offerings to include AuthentifID, which provides a passwordless login tied to a trusted identity. The reuse of the same passwords by users across multiple systems and other weak authentication practices are leading causes of security breaches, the company said. Because passwords do not directly verify the authenticity of a user’s claimed identity, hackers can use compromised passwords as a gateway into enterprise systems. To counter potential identity and financial fraud, Ipsidy delivers FIDO2 password-free authentication, a set of standards that enables easy and secure logins to websites and applications via on-device PINS or biometrics. FIDO2, quickly becoming the de facto standard, offers users an easier, more secure login experience and is far superior to passwords in protecting networks and their users, the company said. READ: Ipsidy CEO Phillip Kumnick says the company is positioned for success in 2021 However, the company noted, many passwordless solutions cannot deliver user certainty, since they do not verify the identity of the true account owner during device registration. That’s where AuthentifID comes in. AuthentifID solves that problem by incorporating Proof, Ipsidy’s mobile biometric identity verification service that scans an ID and automatically matches a selfie to the document photo. The combined solution, developed in partnership with LoginID, establishes a digital chain of trust between biometrically verified individuals, their accounts and their devices. “We are excited to partner with Ipsidy to offer developers a low-lift integration solution that seamlessly incorporates Ipsidy’s trusted biometric identity verification during the end-user registration process, before our FIDO2 or UAF biometric authentication is added to a user’s profile,” LoginID CEO Simon Law said in a statement. “The combined solution enhances enterprise security, and provides end-users with the most secure, frictionless identity verification and authentication experience on the market.” Ipsidy says AuthentifID can reduce costly password resets, mitigate fraudulent account takeover and eliminate the frustration and security risks of passwords. “Ipsidy is committed to ensuring our clients know the identity of their users with biometric certainty,” Ipsidy CEO Phillip Kumnick said in a statement. “AuthentifID offers significant advantages over other passwordless solutions. Binding a biometric identity under control of the enterprise with FIDO2 strong authentication, creates a high assurance solution that is delivered easily to any customer platform, with the highest level of speed, accuracy and trust.” Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel">READ: Ipsidy CEO Phillip Kumnick says the company is positioned for success in 2021
However, the company noted, many passwordless solutions cannot deliver user certainty, since they do not verify the identity of the true account owner during device registration. That’s where AuthentifID comes in.
AuthentifID solves that problem by incorporating Proof, Ipsidy’s mobile biometric identity verification service that scans an ID and automatically matches a selfie to the document photo. The combined solution, developed in partnership with LoginID, establishes a digital chain of trust between biometrically verified individuals, their accounts and their devices.
“We are excited to partner with Ipsidy to offer developers a low-lift integration solution that seamlessly incorporates Ipsidy’s trusted biometric identity verification during the end-user registration process, before our FIDO2 or UAF biometric authentication is added to a user’s profile,” LoginID CEO Simon Law said in a statement. “The combined solution enhances enterprise security, and provides end-users with the most secure, frictionless identity verification and authentication experience on the market.”
Ipsidy says AuthentifID can reduce costly password resets, mitigate fraudulent account takeover and eliminate the frustration and security risks of passwords.
“Ipsidy is committed to ensuring our clients know the identity of their users with biometric certainty,” Ipsidy CEO Phillip Kumnick said in a statement. “AuthentifID offers significant advantages over other passwordless solutions. Binding a biometric identity under control of the enterprise with FIDO2 strong authentication, creates a high assurance solution that is delivered easily to any customer platform, with the highest level of speed, accuracy and trust.”
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel