Sift Acquires Passwordless Authentication Pioneer Keyless to Present Safe, Frictionless Authentication

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SAN FRANCISCO, Nov. 17, 2021 — Sift, the chief in Digital Belief & Security, in the present day introduced that it has acquired Keyless, a pioneer in passwordless and multi-factor authentication. Keyless’ zero-knowledge cryptography and privacy-preserving biometric authentication expertise eliminates account takeover (ATO) fraud because of weak or stolen passwords, phishing, and credential reuse, whereas permitting customers to log into web sites and apps just by wanting into their system’s digicam. Keyless’ expertise meets the Sturdy Authentication Compliance necessities of PSD2, is FIDO Licensed, and helps on-line companies extra simply meet the necessities of GDPR. Sift will supply Keyless merchandise to regulated companies and on-line retailers all over the world.

With account takeover assaults reaching new and sustained heights through the COVID-19 pandemic, companies have confronted an ongoing, evolving risk from cybercriminals utilizing large-scale automation to launch huge ATO assaults to steal saved account worth, fee data, and different private knowledge. Keyless’ biometric-based authentication eliminates a main vector of ATO assaults by fixing the basis downside: passwords. Including to the ATO prevention capabilities in Sift Account Protection, Keyless gives account safety for any enterprise that is able to embrace a passwordless buyer expertise by way of multi-factor authentication that seamlessly permits customers to log in to websites and apps from any system.

Keyless’ proprietary expertise frees companies from storing and managing passwords. Somewhat than tying a person’s biometric issue to a password, Keyless’ SDKs enable companies to deploy biometric logins interoperably on their web sites and apps as the first authentication mechanism, or combine the Keyless authenticator app into the login expertise. In both deployment, customers can merely look into the digicam on their smartphone or laptop to authenticate, with a constant expertise throughout units.

“Defending companies from fraud whereas lowering buyer friction is the inspiration of a Digital Belief & Security technique,” mentioned Marc Olesen, President & CEO of Sift. “Keyless has created a really revolutionary product that gives higher account safety with much less friction for customers, and meets the {qualifications} for regional laws like PSD2. We’re so excited to deliver the Keyless group to Sift and for our clients to learn from their unimaginable expertise and experience.”

Importantly, Keyless places privateness on the heart of the expertise by authenticating customers with out storing their biometric or cryptographic data on their system or in any central location—and by leveraging superior privacy-preserving, multi-party computation protocols. The Keyless community doesn’t have entry to the biometrics, and due to this fact nobody however the person has entry to it.

“Our mission at Keyless is to offer folks and organizations with a passwordless future, the place the person is the important thing,” mentioned Andrea Carmignani, CEO and Co-founder of Keyless. “Becoming a member of Sift will enable us to achieve companies all over the world, cease account takeover assaults at scale, and be certain that customers can authenticate seamlessly throughout units with nothing greater than a look at their system’s digicam.”

“Advances in biometric expertise have signaled the start of the tip for passwords,” mentioned Andrew Shikiar, Government Director and CMO of the FIDO Alliance, an open {industry} affiliation targeted on offering open and free authentication requirements. “Keyless has developed a novel and safe strategy that leverages FIDO’s protocols to make authentication simpler for shoppers. I look ahead to seeing Sift and Keyless drive adoption of this standards-based expertise that each companies and shoppers desperately must thwart the rising variety of account takeover assaults.”

For extra data on Sift’s acquisition of Keyless, go right here.

About Sift

Sift is the chief in Digital Belief & Security, empowering digital disruptors to Fortune 500 corporations to unlock new income with out threat. Sift dynamically prevents fraud and abuse by way of industry-leading expertise and experience, an unmatched world knowledge community of 70 billion occasions per 30 days, and a dedication to long-term buyer partnerships. World manufacturers similar to Airbnb, Doordash, and Wayfair depend on Sift to realize a aggressive benefit of their markets. Go to us at sift.com, and comply with us on Twitter @GetSift.

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