Cybercrime is increasing at an alarming rate in the digital space. According to Juniper Research, the total cost of data breaches is expected to reach $2.5 trillion by 2022. Moreover, the 2019 Verizon Data Breach Investigations Report reveals that weak, compromised and reused passwords are responsible for 80% of hacking-related breaches.
As a result, using an advanced cybersecurity solution has become a top priority for businesses. But, an important question remains: Are companies investing their hard-earned money in the right place? Let’s find out.
The growing failure of existing biometrics
With existing biometric recognition technologies, the chances of inaccuracy can be minimized but not eliminated. There’s a possibility your vital information can become degraded or corrupted due to critical issues such as a security breach, inappropriate compression or mismanagement.
Recently, researchers found that selfies can be used to extract biometric information from fingerprints. Hackers can collect publicly available photos and track information by using your biometric traits such as face and eyes. So, CISOs, risk managers and compliance officers are constantly searching for an advanced solution that can overcome all the drawbacks of existing biometrics and provide extensive data security.
Introducing the next big thing in mobile biometrics
Verifyoo—one of the top three winners of the Comet Competition at Cloud Summit X and a next-generation ISV—has the answer. The company’s pioneering solution, Behavioral One-Time Password, was developed using Active Behavioral Biometrics. It focuses on the way you use your mobile device and analyzes the extracted behavioral information using machine learning.
This information—including finger gestures, finger pressure, device handling, location and more—are used for creating your unique profile based on a combination of different features. This provides you with a safer way to handle your accounts and online transactions without the need to memorize passwords or compromise your privacy.
How the solution works
Verifyoo’s flagship product uses a two-step process: Enrollment and Verification.
When you make a verification request, a set of random characters will be sent to your phone that you’ll need to draw on the screen a few times. This enables Verifyoo to extract all sorts of biometric information from your device, analyze it in detail and create your user profile.
Next, you’ll receive some random characters again that you’ll need to draw and repeat a few times. You can use any other device to verify your user authenticity without pre-enrolling, making it more convenient and secure to use.
All you need to do is type your user name and get verified without the need for additional onboarding. Because it’s a device-agnostic solution, it supports both the iOS and Android platforms. So, you can initially enroll on an Android phone and then use the same verification process on an iPhone.
To learn more about Verifyoo’s log-in process, watch the demo.
What makes it a breakthrough innovation
Behavioral One-Time Password redefines the way you transact online while making the process faster and more secure. Designed to address today’s data security needs, the solution works across multiple industries such as banking, insurance, cryptocurrency, gaming, healthcare and government. And it offers a number of valuable benefits, including:
- Cross-device verification
With cross-device support, you’ll be able to verify your user authenticity from any device, at any time and from anywhere. This makes the application more accessible and user-friendly.
- Account recovery
This verification feature offers easy recovery of your user profile and related activities without the need to access your registered device.
- Fraud minimization
Your user profile is created based on invisible and non-transferable features like finger pressure, movement and device handling. This reduces the chances of biometric data theft and minimizes the extent of online fraud.
- Transaction authorization
The solution analyzes your transaction details and develops a unique pattern based on the biometric information of your user profile. As a result, your confidential data is well-protected.
Together, these technological advances resolve earlier issues to deliver a fast, secure and seamless online experience. To find out more about Verifyoo’s groundbreaking cybersecurity solution, contact us now at email@example.com.