Plurilock Security Inc. (TSX-V:PLUR) said it has submitted a non-provisional patent application with the US Patent and Trademark Office (USPTO) for a multi-device user identity confirmation technology enhancement.
Titled 'Multi-Device User Identity Validation Based on Behavioral Signal Fidelity', the application documents the company’s cutting-edge enhancement to its existing technology with functionality that allows for behavioral-biometric identity confirmation across user devices, based on which device in a user’s ecosystem is actively in use.
“As the cyber threat continues to grow, Plurilock is continuously building on our cutting-edge zero trust identity technology, to combat the security challenges enterprises face,” Ian L. Paterson, CEO of Plurilock said in a statement. “This patent aligns with the Company’s strategy to strengthen our competitive moat and enhance ease of use for continuous identity confirmation across devices.”
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Plurilock said the innovation, developed within the company’s technology division, was created with the goal of providing security continuity across secured devices, supporting the paradigm shift to passwordless, zero-trust security environments.
Using continuous risk score data, the technology will lock the device in use if there is potential credential compromise or other high-risk activity is detected. In addition to ease of use, this technology helps to stop insider threat attacks, when an employee or other internal individual has gained access to a user’s credentials or passcodes. This functionality is timely, with recent research stating that 98% of surveyed organizations feel vulnerable to insider attacks.
This filing is a follow-up on a provisional patent filed in March 2021, as previously announced on April 27, 2021. This documentation will undergo an assessment by the USPTO before the final patent is granted, the company said.
Plurilock also said it has granted stock options to new employees and an advisor of the company to purchase an aggregate of 624,400 common shares at an exercise price of $0.37 per share, which will vest over four years from the grant date. The stock options are granted for a ten-year term from March 24, 2022.
Plurilock provides identity-centric cybersecurity for today's workforces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction.
Contact the author at jon.hopkins@proactiveinvestors.com