LoginID and Ipsidy Announce Strategic Partnership to Combine FIDO2 Strong Authentication with Biometric Identity Verification
The partnership encompasses integration of LoginID’s FIDO2 and UAF certified Strong Customer Authentication platform and Ipsidy’s Biometric Identity Verification platform.
San Mateo, CA, and Long Beach, NY, September 2, 2020. LoginID Inc. and Ipsidy Inc. (authid.ai) [OTCQB:IDTY] a leading provider of secure, mobile biometric identity solutions, have announced a partnership that provides new tools in the fight against fraud in online activities. By integrating Ipsidy’s biometric identity verification platform with the LoginID FIDO as a Service platform, both companies will now offer seamless FIDO2 authentication and login services, delivered with enhanced security and the highest level of identity trust.
Today, customers tend to use the same password across multiple sites allowing hackers to easily guess or steal credentials. According to the 2020 Verizon Data Breach Investigations Report, over 80% of hacking-related breaches leveraged weak or stolen passwords. Quickly becoming the de facto standard for authentication, FIDO2 enables easy and secure logins to websites and applications via biometrics, mobile devices and/or FIDO Security Keys. FIDO compliant solutions eliminate passwords by using the combination of biometric verification and device authentication via cryptographic security, thereby securing and speeding interactions between customers and enterprises. FIDO2’s simpler login experiences, backed by strong cryptographic security, are far superior to passwords, protecting users from phishing, all forms of password theft, and replay attacks.
Under this agreement, the companies will combine LoginID’s FIDO platform with Ipsidy’s mobile identity platform services. Proof™ by Ipsidy offers a seamless identity verification experience supporting mobile identity document capture, liveness confirmation and facial biometric matching of a selfie to a credential photo. Ipsidy’s IDaaS platform can also automatically and without human intervention, validate the authenticity of an identity credential and confirm its possession by the rightful owner.
The combined LoginID and Ipsidy solution allows an enterprise to remotely verify an account holder’s identity and bind that identity to their device during provisioning. This enhanced capability removes any uncertainty of the identity of the user transacting with the enterprise.
“By offering Ipsidy’s trusted identity verification services, we add a low-lift integration option for developers to seamlessly incorporate identity verification, during the end-user registration process before our FIDO2 or UAF biometric authentication is added to a user’s profile.” said Simon Law, CEO of LoginID. “The combined solution provides end-users with the most secure, frictionless identity verification and authentication experience on the market”.
“This strategic partnership creates a significant enhancement to the available identity authentication services and solves for many of the critical authentication requirements of customers around the world.” said Phillip Kumnick, CEO and Deputy Chairman of Ipsidy. “Binding a biometric identity under control of the enterprise with FIDO2 strong authentication creates a high assurance solution, delivered easily to any customer platform, with the highest level of accuracy and trust.”
LoginID is a San Mateo/Toronto based company focused on bridging the gap around authenticating users and securing their information, using its patent-pending encryption protocol Secure Data Diffusion. This is facilitated through its FIDO2 and UAF certified strong customer authentication, privacy and tokenization platform. The team is composed of seasoned executives with decades of experience, across global brands, helping commercialize products around security, cryptography, payments and mobile. For further information contact: email@example.com
Ipsidy Inc. (OTCQB:IDTY) authid.ai, We are Digital IdentityTM. Ipsidy’s mission is to ensure our customers know the identity of their users with biometric certainty. Our Identity as a Service (IDaaS) platform delivers a suite of secure, mobile, facial biometric identity solutions, available to any vertical, anywhere. Our robust identity verification and authentication solutions work great on their own but even better together to help answer everyday questions: Who is applying for a loan? Who is sending money? Who is requesting an account change? Ipsidy is committed to providing seamless, accurate and speedy identity solutions that establish security and trust in today’s digital world.
Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia, www.multipay.com.co; Cards Plus in South Africa, www.cardsplus.co.za; Ipsidy Enterprises in the U.K. and Ipsidy Perú S.A.C. Further information on Ipsidy can be found at authid.ai or contact us at firstname.lastname@example.org.
|Phillip Kumnick, CEO and Deputy Chairman
Notice Regarding Forward-Looking Statements
Information contained in this announcement may include “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations of both Ipsidy and its business partners, future service launches with customers, the outcome of pilots and new initiatives and customer pipeline are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Ipsidy present and future business strategies, and the environment in which Ipsidy expects to operate in the future, which assumptions may or may not be fulfilled in practice. Implementation of some or all of the new services referred to is subject to regulatory or other third-party approvals. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by customers, consumers and others may take longer than anticipated, or may not occur at all; changes in laws, regulations and practices; changes in domestic and international economic and political conditions, the as yet uncertain impact of the Covid-19 pandemic and others. Additional risks may arise with respect to commencing operations in new countries and regions, of which Ipsidy is not fully aware at this time. See the Company’s Annual Report Form 10-K for the Fiscal Year ended December 31, 2019 filed at www.sec.gov for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Ipsidy expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.