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Tag: Authentication

Veriff Modifies Its Face Match Identity Verification Technology

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A global identity verification service provider, Veriff has updated its Face Match identity verification technology. Face Match’s latest version speeds up creating a user verification procedure by using face biometrics (through a selfie) to match the returning user. It analyzes the person’s selfie to Veriff’s existing session data, allowing it to immediately recognize the user and activate their re-authentication settings, and workpiece and promote a more pleasant user engagement.

Veriff founder and CEO, Kaarel Kotkas, stated “For the past six years we’ve been working to build the most accurate verification service on the market. Now we are ready to launch a continuous authentication Face Match product that represents another step in the identity workflow. It enables biometrics to secure accounts throughout their whole lifetime making account takeover fraud history.”

Veriff’s AI-powered Face Match technology verifies that a returning user is who they say they are by employing biometric techniques to detect and mitigate fraudulent actions including account takeover and identity theft, while also reducing user friction.

Growing consumer verification and ongoing KYC are currently popular throughout all online enterprises. As the cryptocurrency industry depends on the notion of seamless virtual currency transfers, authentication is becoming increasingly important for businesses in this field as the demand for actual end-user security develops.

Veriff’s upgraded Face Match solution will provide the following benefits to users:

  • Increased protection against account takeovers. Face Match will need to confirm user actions like adding a new bank account, requesting a significant withdrawal, or logging in from a different location.
  • Increased asset protection.  Veriff’s biometric analysis improves overall safety in a simple, secure, transparent, and reliable way.
  • User security was maintained through a single solution setup. Current user and customer re-authentication activities are time-consuming.
  • Verify identity using a secure and reliable method. If users need to reset their crypto account credentials, Face Match assures that only the account owner has access.

Stytch raised $30M for an API-first passwordless authentication platform

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Stytch has raised $30 million in Series A fundraising led by Thrive, with participation from Coatue, Benchmark and existing investors, Benchmark and Index. Gaurav Ahuja of Thrive and Benchmark’s Chetan Puttagunta have joined as board of directors. Matthew Prince, Cassidy Williams, Neha Narkhede, and Joshua Browder are among the new angel investors on board.

They saw passwords firsthand at Plaid, both in terms of security and usability. They saw how easily people gave up when the authentication procedure became too difficult and easy passwords left users vulnerable to account takeover attacks.

Authentication, which underpins all of our online interactions, has been stuck in the 1990s despite the fact that user experience and security have both improved over the last few decades.

That’s why Stytch was created – to make the next generation of authentication passwordless.

They believe in developing tools and infrastructure that allow integrating authentication into apps and websites easier, faster, and safer. By adopting passwordless technologies, they’re making it simple to upgrade users’ authentication flows and provide exceptional user experiences.

Alternative authentication techniques have risen in popularity in recent years, utilising developments in both hardware (e.g. biometrics, YubiKey) and software (e.g. APIs for programmatic text + email), paving the way for a password-free future. However, developing a reliable new authentication system is a major job, requiring organisations to dedicate entire teams to the task. They see this as a huge opportunity to assist developers transition to a new era of authentication, where they can use simple APIs and SDKs to incorporate passwordless authentication solutions.

More than 350 developers are already using the Stytch platform to design user onboarding and login flows that include email magic links, SMS and WhatsApp passcodes, and one-click user invitations. They said that they have seen enterprises of all sizes drawn to the straightforward developer experience and flexibility given by their API-first strategy, including a handful of Fortune 500 companies who use the platform.

With the new funding, they want to introduce a variety of new authentication options to the platform, including mobile biometrics, WebAuthn, OAuth logins, QR codes, and push notification login. They are also beefing up the user infrastructure features that make Stytch the easiest and most frictionless method to onboard and engage users, such as session management, account recovery, and more effective fraud detection.

Identity and Access Management – All You Need to Know

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Identity and access management (IAM) is a set of rules implemented using technical solution so that validated users in an organization are granted appropriate level of access to the required resources. IAM is a framework, which manages access to enterprise resources.

Identity – An identity is label or token which is used to recognize user. It is creation, modification and deletion of identities.
Authentication – It is process of verifying whether the user is who he/she claims to be.
Authorization (user access) – It is a process to determine whether an authenticated user is permitted to access a specific resource.
In today’s changing world, IAM is critical. The ongoing process of controlling who has access to what information plays vital role. IAM is responsible for the management of users’ (employee or client) identities. In sharing of data and information, secure user access is critical. Furthermore, electronic data is becoming increasingly important to most businesses. As a result, access control must meet increasingly stringent criteria – a problem that is often addressed by implementing strong authentication. Identity and access are two crucial concepts in IAM that must be handled by an organization. Companies are increasingly dependent on digital tools to do these tasks.

Some Noteworthy Features of IAM are –

  • Centralized Directory service – It is one of the fundamental building blocks of IAM solution. A directory service is a centralized database of information that is structured and defined by a unique identifier. It makes the identity storage and verification process seamless across multiple platforms.
  • User Life cycle – IAM creates life cycles of employees and clients of an organization based on their behaviour patterns and access rules defined. It helps to detect threats.
  • Single Sign-On – IAM solutions support SSO. Single Sign-On (SSO) with a single set of credentials allows employees or clients of an organization to access multiple applications quickly. It eliminates the need to remember several sets of passwords making it more user friendly.
  • Scalable and Flexible – IAM solutions are able to scale up and down efficiently as per the requirement of an enterprise firm. They are scalable enough to manage the need of small firms with less than 100 user or large organizations with millions of users. IAM solutions give companies choice of deployment either on-premise servers or cloud with configuration changes.
  • Multi-Factor Authentication – Multi-Factor Authentication systems use two or more methods to verify the user’s identity. It uses information like biometrics, location, OTP to confirm the user’s identity. Organizations use advanced MFA to protect their employee or client’s connections to corporate networks or cloud applications. MFA greatly reduces the risk of a security breach, and confidential data is kept secure.
  • IAM control – Administrators can authorize who can work on specific resources using Identity and Access Management (IAM), giving them complete control and visibility of the company’s cloud resources. IAM offers a cohesive vision of security policies across the entire company, with built-in auditing to simplify compliance procedures for businesses with diverse corporate networks. IAM gives administrators the ability to grant fine-grained access to cloud services.
  • Government Law – State and Central government laws in various countries require companies who work with Personal or Identity-related information like financial information to use secure and robust Identity and access management solutions. In crucial sectors like banks, it is mandated by law to meet certain compliance guidelines.
  • Security – The beauty of the IAM system is its ability to show you what threats your company is facing. It detects and raises alert if the user’s behaviour deviates from usual activity. e.g. an attempt to access unauthorized resource or login from a different location. IAM takes action like account locking for failed login attempts. To make this possible IAM tools use big data analytics based on key metrics to manage.

Identity and Access Management solutions are used by all organizations. It is difficult to imagine an organization without an IAM Solution. With increasing number of devices, applications and users IAM software have great future with growing a market.

InfoSecurity Outlook Magazine focuses on keeping track of Information Security, Data Security, Cloud Security, IoT Security and Fraud Management related technology to help entrepreneurs protect their organizational data from threats and misuse.

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