Saturday, August 27, 2022 8:56:47 PM
This Company Believes Biometrics Could Be One Of The New Super Powers Of The Digital World
(MENAFN- News Direct)
Wall Township, New Jersey | August 25, 2022 03:16 PM Eastern Daylight Time
In March 2017, Netflix's official Twitter Inc. (NYSE: TWTR) account tweeted 'love is sharing a password.'
Five years later, media reports created a furor, hinting that Netflix was considering ways to curtail password sharing with people beyond the main user's household.
Password sharing on digital streaming platforms like Netflix Inc. (NASDAQ: NFLX) and Amazon.com Inc. 's (NASDAQ: AMZN) Prime Video is common practice with multiple people sharing a single account with different user profiles.
But what Netflix has taken issue with now, and is trying to curtail, is the unauthorized and illegal sharing of passwords through password-sharing marketplaces run by bad actors, which it says costs the company more than $6 million in annual revenue loss.
The consequences of credential-related cyber crime could prove to be very expensive for organizations if the spate of reported incidents is anything to go by.
Some of the most significant password-related security breaches of the last year include those at Microsoft Corp. (NASDAQ: MSFT), SolarWinds Corp. (NYSE: SWI), and GoDaddy Inc. (NYSE: GDDY).
Microsoft reported a cyberattack by Chinese hacking group Hafnium, which targeted thousands of its servers across the United States and affected government agencies and businesses, exposing the email communications of each affected organization.
In a separate incident, U.S. government agencies were compromised in a series of nationwide attacks involving software from the cyber security firm SolarWinds where hackers reportedly exploited a vulnerability in its network monitoring software, allowing them to infiltrate companies that were using that software and gain access to their email communications.
Cybercriminals apparently had access to GoDaddy's systems for over two months before they were detected and their access blocked, by which time considerable damage had already been done.
Rising Cyber Crime Could Be Driving Companies' Focus Toward Identity And Access Management
User credentials are the entry point to an organization's data, and securing the network and access to data has become a top priority for businesses in the highly digital world.
Companies like BIO-key International Inc. (NASDAQ: BKYI), 3M Co. (NYSE: MMM), Fujitsu Ltd. (TYO: 6702), and Safran SA (SAF.PA) provide secure access management solutions in different parts of the world could play an important role in addressing the challenges that are inherent with password-based security solutions and the risk and cost associated with traditional methods of access management.
More organizations are moving away from password-based solutions to biometric authentication.
Identity-Bound Biometrics (IBB) provides a type of authentication that verifies the actual identity of the individual behind the keyboard, and BIO-key says its world-class biometric platform integrates into its customers' Identity and Access Management (IAM) strategy.
The company reports that it offers multiple Identity and Access Management system options when it comes to enforcing stronger security and multi-factor authentication. It is showcasing new innovations at the Gartner Identity and Access Management (IAM) Summit (Booth 232) at Caesars Palace in Las Vegas, Nevada, August 22-24th. At the Summit, BIO-key will highlight new authentication methods, as additions to its current PalmPositiveTM palm scanning method, for its BIO-key MobileAuth ™ mobile app, including FacePositive™ for server-secured facial recognition, device-based biometrics for Android and iOS, and new push token support.
It boasts decades of expertise in the field and claims it has a proven track record of successful Identity & Access Management (IAM) project delivery and strong customer relationships in financial services, healthcare, education, manufacturing, communication, transportation, and government.
BIO-key says its signature product — PortalGuard® IDaaS (Identity-as-a-Service) — has flexible single sign-on and various authentication options to meet the security goals of most modern organizations to deliver an optimized user experience.
Features the company says make PortalGuard an attractive access management solution include:
Accessibility to a suite of apps from multiple devices without requiring the user to manage numerous, difficult-to-remember passwords.
Multi-factor Authentication (MFA), including biometric authentication options like Identity-Bound Biometrics, to prevent unauthorized access if an attempt to access an application is made from outside of the company's usual geography.
Reduced operational costs and a less heavy burden on tech support to enable password resets because users can quickly reset their own passwords using their fingerprint as their authentication method of choice.
To learn more about BIO-key's biometric solutions visit the company webpage .
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software managing millions of users. Its cloud-based PortalGuard IAM solution provides cost-effective, easy to deploy, convenient and secure access to devices, information, applications, and high-value transactions. 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 as customized on premises solutions.
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
MENAFN25082022005728012573ID1104758864
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Tags
Label
Date
8/25/2022
Wick(w50)
Recent BKYI News
- BIO-key International, Inc. Receives Notice of Non-Compliance from Nasdaq • GlobeNewswire Inc. • 04/22/2024 08:30:00 PM
- Switzerland’s Canton of Ticino Implements BIO-key’s Multi-Factor Authentication Solution in its Information Systems Center • GlobeNewswire Inc. • 04/09/2024 01:15:00 PM
- Identity and Access Management Software Provider BIO-key Preliminary 2023 Results: Operating Loss Trimmed Approx. $3.5M on Approx. 29% Revenue Growth to $9.1M; Investor Call Tomorrow at 10am ET • GlobeNewswire Inc. • 04/01/2024 08:45:00 PM
- Identity and Access Management/Cybersecurity Solutions Provider BIO-key International Hosts Q4 Investor Call Tues., Apr. 2nd at 10am ET • GlobeNewswire Inc. • 03/27/2024 01:30:00 PM
- Humanity International Investments Hits Major Milestones in Digital Identity with the Humanity Protocol Initiative in Partnership with BIO-key International • GlobeNewswire Inc. • 03/12/2024 06:17:46 PM
- BIO-key Receives $1.5M Pre-Paid, Two-Year Software Subscription Order for its Biometric Identification Platform • GlobeNewswire Inc. • 02/20/2024 01:59:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 02/16/2024 10:02:13 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 08:30:35 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 01:04:15 AM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/13/2024 05:15:36 AM
- Bridgetown, Barbados Credit Union Selects BIO-key’s PortalGuard to Enhance Access to Shared Workstations Including Biometrics • GlobeNewswire Inc. • 02/06/2024 01:59:00 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 01/30/2024 10:31:29 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/25/2024 09:01:47 PM
- Tragsa Group Enhances Cybersecurity with BIO-key’s Multi-Factor Authentication Solution • GlobeNewswire Inc. • 01/22/2024 10:15:00 AM
- Haver & Boecker Implements Single Sign-On (SSO) with Multifactor Authentication via P&W Netzwerk and BIO-key Europe to Secure and Streamline User Access • GlobeNewswire Inc. • 01/17/2024 09:59:00 AM
- NJ-based Authentication Solutions Provider BIO-key to Review Growth Strategy and Progress at The Microcap Conf. in Atlantic City – Presentation Wed., Jan 31 at 10:50am ET • GlobeNewswire Inc. • 01/16/2024 01:59:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/11/2024 04:54:32 PM
- Fargo, ND and Junction City, KS Choose BIO-key PortalGuard For Secure Access via Biometric Authentication • GlobeNewswire Inc. • 01/11/2024 12:58:00 PM
- BIO-key PortalGuard Wins 2024 Business Intelligence Group’s BIG Innovation Award for its Authentication Software • GlobeNewswire Inc. • 01/10/2024 02:01:00 PM
- Denmark’s Ministry of Foreign Affairs Bolsters Network Security via IT2Trust and BIO-key® • GlobeNewswire Inc. • 01/08/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 10:28:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 10:20:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 10:14:48 PM
- Portugal’s Judiciary Police Enhances Security Infrastructure via Securnet and BIO-key • GlobeNewswire Inc. • 01/02/2024 10:01:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM