Identité, a security company specializing in passwordless authentication, won the ATPS Fraud Lions´ Den’s Best Product category this week.
21st May, 2021
We all dread the idea of remembering and using passwords for multiple accounts we use. Passwordless login and authentication is a way to allow a user to gain access to an application or system without entering a password or answering security questions.
As a security and passwordless authentication specialist, Identité asserts that the technology is out there, it is a matter of embracing it. It is time to drift away from reactionary security measures and opt for a more proactive approach that is in line with the current threat landscape.
Identité’s Jim Bray referred to the company’s tool, NoPass. It eliminates the need for a password and creates a seamless user interaction. The NoPass server and application in the phone takes care of all of the bi-directional handshakings, requiring only that the user compare two images (a picture and a 3-digit number), then swipe or touch the approve button, and they are connected.
Other than the possibility of a poor UX, the centralized storage of user credentials including passwords within the cloud or a website server provides a single point of attack for hackers, which can greatly increase the cost of a single data breach. The team at Identité mentioned that the centralized credential store is:
- hackers’ favorite target
- single point of failure
- high risk of breach
- susceptible to credential re-use
- expensive to secure and maintain
Also, passwordless authentication results in a stringent security by eradicating risky password management practices and reducing attack vectors. User credentials are decentralized and stored safely on their personal devices.
Decentralized credentials
- stored safely on personal devices
- true passwordless architecture
- stop mass breaches, fraud & phishing
- resistant to credential re-use
- low cost to secure and maintain
It would be interesting to see how this arena shapes up, considering the need for making the initiation of any digital session simpler and easier.
By Ritesh Gupta, Ai Team
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