LONDON, July 21, 2014 /PRNewswire/ — Based on its recent analysis of the secure authentication market, Frost & Sullivan recognizes Keypasco AB with the 2014 European New Product Innovation LeadershipAward.
Keypasco’s software-based user authentication service is a non-invasive solution that can facilitate mobile migration. The twin ability to keep pace with the mega trend of migration towards mobility and address the growing menace of mobile device attacks will allow the company to dominate this emerging market.
"Keypasco uses techniques such as a fingerprinting to determine if a legitimate device is being used, and employs geo-location features to identify the place the request was made from," said Frost & Sullivan Research Analyst Ben Gresham. "If the results fit the normal pattern for the user, the transaction is authorized, and if the behaviour is anomalous, the solution uses risk-based factors to determine if the request is fraudulent. By merging these factors and technologies, Keypasco has created an authentic solution for sensitive tasks such as mobile banking."
An example of Keypasco’s ability to quickly and thoroughly address security gaps within the emerging mobile online banking arena is the XiaWeiFeng security service. It combines Keypasco’s device fingerprinting, geo-location, as well as risk intelligence software, and has features such as a one-key-lock function that allows the user to disable a bank account and/or card either online or offline. Frost & Sullivan notes that the company’s software can be embedded and is highly configurable with the user’s existing software.
The Keypasco solution’s biggest advantage is its ease of use. When employed along with the Vakten desktop software, the computer can use a paired Bluetooth connection as a proximity factor. The solution offers the same security level as traditional one-time password (OTP) token, possibly higher (MitM, and MitB support), and is drastically cheaper and provides protection for both mobile devices and computers at the same time. Keypasco offers integrated authentication for major web browsers such as Apple Safari, Google Chrome, Mozilla Fire Fox, and Microsoft Internet Explorer as an agent-less service alternative to the agent-based solution.
Frost & Sullivan’s research reveals that Keypasco’s software-based secure authentication solution addresses growing security risks, is simple and does not interfere with everyday user behaviour. Three years of focused software-based solution development has enabled Keypasco to address industry challenges through a solution that is much less troublesome to implement than hardware-based solutions.
"By developing a strictly software-based solution from the ground up, Keypasco has achieved a balance between power and practicality to integrate a variety of powerful software-based authentication factors that work better with real-world user behaviour," noted Ben Gresham. "This places the company in a unique position to provide one of the easiest-to-implement secure authentication solutions that addresses the growing mobility trend."
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leverage leading-edge technologies. The award recognizes the value added features/benefits of the product and the increased ROI it offers customers, which in turn increases customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.