The partnership aims to simplify the adoption of digital authentication for logical access control applications in sectors such as enterprise authentication, financial services, and government ID.
The solution aims to address security vulnerabilities, such as compromised passwords or ID theft. The SiP module will comply with FIDO Alliance and W3C standards, offering an alternative to traditional passwords by replacing them with cryptographic key pairs. Engineering samples of the module will be available starting in the summer of 2025, with mass production expected to begin in Q4 2025.
The solution is designed to support a range of applications, including enterprise and cloud authentication solutions, and biometric passkeys tokens for no-password authentication. It also features self-sovereign identity and crypto wallets with key storage and blockchain transaction signing, payment authentication, enhanced OpenPGP, PIV implementations, and Gov-ID solutions.
This solution is projected to simplify integration and accelerate time to market, enabling product companies to incorporate these features into their product lines.
67% of companies in Sumsub’s Identity Fraud report claimed a fraud increase, with 45% of companies and 44% of end users being victims of identity fraud. End-users primarily fall victim to fraudulent activity due to data breaches (16%), weak passwords (13%), and malware or viruses (11%).
The five primary types of identity fraud in 2024 that are dominating the landscape include fake documents (50%), chargeback fraud (15%), account takeovers (12%), deepfakes (7%), and fraud networks (4%). There has also been a four-times increase in the number of deepfakes detected worldwide from 2023 to 2024, accounting for 7% of all fraud attempts.
62% of participants believed that businesses and governments should be the ones to protect users against fraud and take responsibility for fraud prevention.
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