Entrust introduces IDV authentication solution

Friday 26 April 2024 14:16 CET | News

Entrust has introduced an authentication solution consolidating identity verification (IDV) and identity and access management (IAM) into a single platform.

This new offering is designed to combat various cybersecurity threats including deep fakes, phishing, and account takeovers.

Entrust launches digital account opening solution

The upgraded Entrust Identity as a Service (IDaaS) platform integrates Onfido’s AI-driven document and biometric verification technology, enabling identity authentication that is crucial before conducting high-value transactions or other sensitive actions. This integration strengthens the IDaaS platform by adding a layer of security that improves protection against identity fraud and phishing, secures digital interactions, and safeguards sensitive data.

The features of the platform allow organisations to:

  • authenticate users securely and efficiently in real-time, crucial for protecting against fraud, phishing, and other security breaches.

  • implement IDV with ID and biometric checks as step-up authentication for significant transactions or sensitive operations.

  • prevent unauthorised access post-breach through AI-driven facial biometrics integrated with risk-based adaptive authentication, ensuring higher security assurances.

  • stay adaptive against the evolving challenges posed by deepfakes and similar deceptive technologies.

The rise of integrated identity verification

This announcement follows Entrust’s recognition in the 2023 Gartner Magic Quadrant for Access Management, where Gartner forecasted that by 2027, identity verification integration would be a standard feature of access management tools, potentially reducing account takeover attacks by 75%.

As digital threats become increasingly sophisticated, traditional methods of authentication are no longer sufficient to safeguard sensitive data and prevent unauthorized access. By recognizing the necessity of incorporating identity verification into access management tools, Gartner underscores the critical role that identity plays in modern security frameworks. This forecast implies a paradigmatic evolution in cybersecurity practices, where the verification of individuals' identities becomes central to fortifying digital perimeters and mitigating the risk of cyberattacks. Moreover, it highlights the growing recognition within the industry that authentication measures must adapt to the evolving threat landscape to remain effective.

Furthermore, the integration of identity verification into access management tools reflects a strategic imperative for organisations to adopt a Zero Trust security model. In a Zero Trust framework, trust is never assumed, and every access request is verified, regardless of whether it originates from inside or outside the network perimeter. By embedding identity verification capabilities directly into access management solutions, organisations can implement a more granular and context-aware approach to authentication. This not only improves security by reducing the risk of credential theft and unauthorised access but also enhances user experience by enabling seamless, yet stringent, authentication processes.

Entrust’s other security solutions

Entrust has taken a significant step forward in the realm of cybersecurity with the announcement of its Post-Quantum Ready PKI-as-a-Service (PKIaaS PQ) platform. This addition to the company's cloud-based PKI-as-a-Service offering enables customers to explore and implement quantum-safe scenarios and infrastructure. This move underscores Entrust's commitment to staying ahead of emerging threats and equipping organisations with the tools they need to navigate the evolving landscape of digital security.

In response to the growing demand for seamless and secure digital banking experiences, Entrust has unveiled a new digital account opening solution aimed at enhancing the banking journey for consumers worldwide. As more individuals opt for online financial management, Entrust recognises the importance of eliminating barriers to accessing financial services. By introducing this solution, Entrust seeks to empower banks and credit unions to offer their customers a secure and convenient digital onboarding experience, thereby enhancing customer satisfaction and loyalty in an increasingly competitive market.

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Keywords: online authentication, identity verification, cybersecurity, deep fake, phishing
Categories: Fraud & Financial Crime
Companies: Entrust
Countries: World
This article is part of category

Fraud & Financial Crime


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