Home business solution Beyond Identity Launches Solution to Eliminate Threat of Fraud

Beyond Identity Launches Solution to Eliminate Threat of Fraud

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Passwordless multi-factor authentication (MFA) provider Beyond Identity announced the general availability of Secure Customers, a new solution that enables any business to eliminate the threat of customer account takeover and accelerate conversions new accounts with the fastest cross-platform passwordless MFA available.

Since Beyond Identity’s inception, the business has moved from securing the workforce to enabling DevOps teams to eliminate supply chain risk.

Secure Customers also provides Software Development Kits (SDKs) that allow businesses to integrate Beyond Identity’s frictionless password-less authentication capabilities into native and web-based applications by leveraging the same proven technology and platform. cloud native form than other Beyond Identity products.

Need authentication

Today, over 60% of data breaches are caused by stolen credentials, and 2020 has seen an incredible 292% increase in takeover fraud. While companies may impose additional security controls on employees, such as Unified Endpoint Management (UEM) and MFA, customer mandates are problematic because UEM is inconvenient and customers are very sensitive to friction.

Authentication is the gateway to products and services impacting 100% of acquired customers

Authentication is the gateway to products and services impacting 100% of acquired customers, but research has found that 86% of visitors fail to sign up because it’s too taxing and 50 % will be abandoned after just one bad experience.

In today’s competitive environment where 86% of businesses rely on the customer experience as their primary differentiator, the stakes for proper authentication are higher than ever. To make matters worse, criminals have found multiple ways to bypass technologies such as multi-factor authentication.

Get rid of passwords

As long as passwords continue to exist, no matter how hidden or secure they are, criminals have an open door to applications, customer accounts, and databases.Said TJ Jermoluk, co-founder and CEO of Beyond Identity.

The only way to fully protect customers from account hacking attacks is to eradicate the password from both the user experience and the application database. Customer relationships are built on trust, so being able to offer customers this unprecedented level of security and ease of use will foster long-term loyalty.. “

Cross-platform passwordless authentication

Businesses Give Consumers a Smooth, Password-Free Authentication Experience

Building on the momentum of Beyond Identity’s successful Passwordless MFA to secure the workforce, Secure Customers aims to protect the lifeblood of business customers.

The solution is a cross-platform passwordless authentication product that enables a business to provide consumers with a frictionless authentication experience with no passwords, second devices, or separate app downloads for the native. mobile and web applications.

Developers have several methods of implementation, including integrating Beyond Identity’s MFA technology into applications or integrating with identity providers such as Auth0, ForgeRock, and Keycloak. SDKs are currently available in Swift, Kotlin, and JavaScript with additional languages ​​expected to be added shortly. With open standards support, solid documentation, and dedicated developer support, integration is straightforward with minimal engineering resources required.

Frictionless authentication solution

The solution takes advantage of the same secure approach that powers all of Beyond Identity’s solutions – public / private key cryptography and X.509 certificates without certificate management. Private keys are securely stored in the TPM or in a secure enclave at the customer’s site mobile device or computer. This creates a unique, tamper-proof identifier and cryptographically verifiable identity that is tied to a device and cannot be moved or copied.

For a business, this eliminates the need for passwords, ensuring consumers the highest level of security and privacy. The unique advantages of secure clients include:

  • Frictionless Passwordless MFA conforms to PSD2 Strong Customer Authentication (SCA) standards using two strengths – something you are and something you own – without the need for one-time passcodes, push, magic links or second device notifications on any app.
  • Eliminate takeover fraud as passwords are completely deprecated from use and storage.
  • The ability to capture real-time user and device risk signals from the exact authentication device to enable adaptive risk-based authentication.
  • The tamper-proof credentials that customers own and control are backed by private keys that can never leave the TPM of local devices.
  • A collection of SDKs in popular development languages, SSO integrations, solid documentation, and sample code to simplify integration and speed time to market.
  • Cross-platform support with native and web apps, and support for migrating credentials between apps.

Standards-based passwordless authentication powered by a cloud-native platform to support elastic scalability and flexible extensibility with existing application tools.

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