BKYI - Identity-Bound Biometrics Could Eliminate Hidden Costs Of Current Passwordless Solutions Says BIO-key
(NewsDirect)
With the ever-growingnumber of websites that individuals need to log into these days, forboth work and personal matters, creating and remembering countless,unique, and secure passwords have become a substantial challenge. Inthe workplace, specifically, this could lead to potential securityrisks as employees may end up ignoring security protocols altogetherdue to password fatigue, putting their organization’s data securityat risk.
Inaddition to the pain points arising from having to remember passwords,traditional authentication methods also result in mounting costs fororganizations – with sizable IT helpdesk resources required just forpassword resets alone. Additionally, according to the World EconomicForum, 80%of all cybersecurity breaches occur as a result of weak orstolen passwords.
With all the issuesassociated with password-based authentication, organizations are nowseemingly ready to move away from this approach. A recent surveyshowed that 82%of business leaders currently say that they are ready toimplement passwordless authentication options within theirorganizations.
Current Passwordless Authentication OptionsMay Not Be The Best
Most of the passwordless authentication solutions adopted todayrely on hardware tokens or mobile devices – which present their ownset of issues, including security risks from the loss of the physicaldevices and usability challenges in restricted areas of operation suchas contact centers and manufacturing floors. Additionally,authentication methods involving mobile phones could involve hiddencosts for both the employer and employee.
BIO-Key International Inc. (NASDAQ:BKYI), a provider of Identity and Access Management (IAM) solutions,reports that it offers authentication options that could address suchrisks and issues by offering an easier and more secure way toauthenticate the identity of employees, customers, and suppliers. Thecompany says that its unique approach to authentication uses Identity-BoundBiometrics (IBB) to manage access across devices andapplications within the organization. IBB is part of BIO-key'sunified IAM platform — PortalGuard ® IDaaS (Identity-as-a-Service) — which offers variousauthentication options, including biometrics, to meet the securitygoals of most modern organizations and deliver an optimized userexperience, reports the company.
BIO-key also recently introduced new authentication methods toits one-of-kind multi-factor authentication mobile app, MobileAuth TM ,which now includes server-secured facial recognition, device-basedbiometrics for Android and iOS, and push token support. The app wasinitially launched with just one biometric option, PalmPositiveTM,which supported secure biometric authentication through palm scanning.
Benefits Of BIO-key’s Identity-Bound-BiometricSolution
According to the company, Identity-Bound Biometrics provides aunique and superior level of security as it verifies the identity ofthe person completing an action– logging into a system, completing atransaction, accessing private information–instead of justauthenticating a device, token, or credential.
Traditional passwordlessoptions involving a physical device like a mobile phone or tokensimply confirm that an approved device is being used. There is no wayto confirm that the device is actually being used by the authorizedindividual.
IBBoffers flexibility and ease of use, where a one-time enrollmentquickly sets up access across multiple devices and locations foremployees in organizations implementing their solution, says thecompany. There is also greater deployment versatility and scalabilityacross use cases with BIO-key’s IBB solution, which enablesenterprises to provide a consistent and seamless user experience fortheir employees. In addition, it reduces overall costs by streamliningIT department resources and eliminating operational redundanciesyielded by traditional authentication systems.
The company reports thatits IBB option is cloud-ready and easily integrated with systems,applications, and infrastructures. It is a safe, efficient,cost-effective, and secure option that can be applied to a range ofcommon use cases, including shared workstations, zero-trustenvironments, remote access, and scenarios where mobile devices arenot permitted.
Through its trusted biometric authentication solution,Identity-Bound Biometrics, BIO-key believes it could enableorganizations to move into a passwordless future with a solutionthat’s easy to use and hard to hack. IBB could help employers,employees and customers by eliminating the hidden costs associatedwith current options that involve mobile phones, hardware tokens orother physical devices with a more sensible authentication solution.
More informationabout BIO-key’s Identity-Bound Biometric solutions can be found onBIO-key.com .
BIO-keyis revolutionizing authentication and cybersecurity withbiometric-centric, multi-factor identity and access management (IAM)software managing millions of users. Its cloud-based PortalGuard IAMsolution provides cost-effective, easy to deploy, convenient andsecure access to devices, information, applications, and high-valuetransactions. BIO-key's patented software and hardware solutions,with industry-leading Identity-Bound Biometric (IBB) capabilities,enable large-scale Identity-as-a-Service (IDaaS) solutions, as well ascustomized on premises solutions.
This post containssponsored advertising content. This content is for informationalpurposes only and is not intended to be investing advice.
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