iProov is pleased to announce that we have joined the FIDO Alliance, the industry association focused on reducing the world’s over-reliance on passwords.
Passwords have become increasingly unfit for purpose in a world where so much interaction is completed online and consumers are accessing large numbers of websites and apps.
Why are passwords unfit for purpose?
- Expecting consumers to follow the guidelines for creating passwords (make passwords unique for every important account, make passwords longer and memorable, avoid personal or common words) is no longer reasonable. In a Google survey, 51% of people admitted to reusing the same password for multiple accounts.
- As consumers increasingly rely on their browsers to remember passwords, the security risk increases - a laptop left unlocked, or that is compromised, potentially provides access to financial and reputation damage.
- Stolen and reused credentials are responsible for 80% of hacking breaches.
How will we vote, pay, travel, work, interact and transact in a digital world, if identity fraud continues to threaten trust and security?
That’s the question that iProov will be helping to answer at the connect:ID conference this week in Washington DC. It’s a great event, attended by representatives from government and the private sector, that focuses on the need for new thinking to combat identity fraud in a digital, data-driven world.
Come and meet the iProov team on our booth #115, or join us in one of our presentations:
The Last Mile - Securely Binding Real People To Secure Digital Identities | 4.35pm, 11 March, Stage 3 | Andrew Bud, CEO, iProov
Come and hear Andrew talk about the work that iProov has been doing with governments and banks around the world, including the Department of Homeland Security, Home Office, NHS, Rabobank and ING. What are the threats that governments and banks face, what is driving those threats, and how can they be combatted?
International Women’s Day is a recognised day worldwide, celebrating the social, economic, cultural and political achievements of all women globally. We are moving into a very exciting time in gender balance history where the world notices its absence and celebrates its presence. We’ve seen movements like #PledgeForParity in 2016, #BeBoldForChange in 2017, #PressForProgress in 2018 and #BalanceForBetter in 2019. And so here we are in 2020, and iProov is celebrating #EachForEqual.
Susannah, our Digital Marketing Executive, had a fireside chat with Sital, Product Marketing Manager, Lynne, Global Head of Product Marketing, Sarah, Global Head of Marketing and Ju Lee, Financial Controller, to hear what International Women’s Day means to them, and what advice they would share with other women.
iProov is proud to announce that its facial authentication technology is the first to achieve international digital identity conformance certification and has gone live in Estonia’s state-certified digital identity program. This represents a world-first for biometric authentication, machine learning and cloud-based services.
Since 2014, Estonia has earned a global reputation for pioneering the provision and use of digital identities for its citizens. The Smart-ID service now allows Estonians to renew a Smart-ID account, wherever they are in the world, without having to visit a bank branch.
Using an app on their smartphone, a user simply scans the chip of their ID document using the phone’s contactless reader. They then prove that they are the holder of that document by ‘iProoving’ themselves with a 3 second scan that checks if they’re the right person, a real person, and present right now, thus protecting against fraud and criminal activity. With a Smart-ID they can authenticate their identity and provide digital signatures online, recognised as being equivalent to handwritten signatures, anywhere in Europe.
It is known as fintech’s ‘X-Factor’: at Finovate every year, the world’s most cutting edge technology companies showcase their latest products to hundreds of banks and other financial institutions.
Each technology leader gets 7 minutes to conduct a live demo of their latest product in front of banking technology experts from around the world. The audience then votes for their favorites. It’s not for the faint-hearted.
Last week iProov completed a remarkable hat-trick; we won Finovate Best of Show for the third year running. In 2018, 2019, and now again in 2020, Finovate attendees voted for iProov as a stand-out innovator, providing solutions to meet compliance, fraud, and usability challenges in the financial sector.