Reliable authentication protocols are essential for every organization to verify its users. Too often, the traditional password system is compromised, copied, or shared. It exposes data to theft and malicious intrusions.
Consequently, advanced authentication solutions vendors constantly improve and develop their existing methods of authentication. Biometrics, smartcards, and tokens are some of the most popular alternatives to passwords.
In 2019, the Advanced Authentication Market was valued at USD 9.75 billion. It is projected to grow at a compound annual growth rate of 13.4% between 2020 and 2025. Security threats are increasing, and hackers continue to find new ways to steal data. New viruses are also being created to steal sensitive information from individuals and businesses. Organizations must deploy authentication solutions that allow for secure and convenient access to their data, websites, or apps.
Demand for Advanced Authentication
Organizations are becoming more dependent on electronic data and computer networks to run their day-to-day operations. According to a recent McKinsey global survey, about 85% of executives stated that their businesses have expedited digital transformation to enable digital interaction and collaboration of employees in a remote work setup.
The number of global internet users increased by 257 million in the past year, with more than 700,000 new users daily. In addition, a growing quantity of financial and personal information is also stored and transferred online. This trend to use online services for daily transactions has led to a greater need for advanced authentication services.
Another factor driving the market growth in advanced authentication solutions is the increasing adoption of mobile technology. About 5.27 billion people worldwide are already mobile phone users. Enterprises are under pressure to allow employees, partners, or other stakeholders access to their platforms on any device and from any location. Many end-user industries have implemented two-way authentication systems, allowing users to use the company’s cloud or online services with microchip-equipped credit cards and debit cards.
Institutions try to find the ideal provider for their identity verification and ID document authentication needs. Here are some of the market players in the authentication industry:
LoginID
LoginID is a leader in biometric authentication. It provides SaaS-based Passwordless Authentication, Digital Onboarding, Digital Identity Verification (via a partnership with AuthID), and PSD2 Strong Customer Authentication solutions and is FIDO2 Certified.
LoginID’s FIDO2 passwordless authentication solution enables organizations to integrate secure biometric authentication across all major browsers and platforms. LoginID's solution is free to try, easy to integrate using their suite of SDKs and APIs, and secures users against account takeovers and SIM swap attacks.
LoginID's fraud prevention solutions can help businesses reduce fraud and increase customer conversion rates. End-users have the assurance that they can securely and conveniently log in with their biometric to any LoginID-integrated platform.
Presently, the company’s main offering is passwordless authentication, and they expanded into delivering fast digital identity verification with their partner AuthID. This solution enables consumers to use their mobile devices to scan their identity documents and confirm their identity in real-time.
LoginID also offers a biometric digital signature feature to achieve more substantial identity verification. LoginID has FIDO2-powered eiDAS approved legal signature, allowing financial institutions to elevate their services. In addition, LoginID has a transaction confirmation with digital signature service where online transactions are cryptographically signed using the consumer’s biometric creating a digital receipt.
Magic.Link
Located in the US, Magic enables passwordless login integrated into existing applications via a developer SDK. Their authentication methods encompass email magic links, SMS, FIDO2 WebAuthn, and social login. Soon, they will also launch a multi-factor authentication (MFA) platform.
Although many users already know and use magic links, some still prefer a faster means of authentication. Since magic links are designed to redirect to another URL or prompt users to go back to the original tab after completing the confirmation process, this creates more friction. Furthermore, if the link dispatch is delayed, it can slow down the procedure.
Some users noted difficulties in deploying Magic’s authentication product. An in-house IT staff without sufficient knowledge or experience might not be enough for the job, requiring a professional to handle the implementation.
Auth0
Auth0 provides FIDO WebAuthn-based biometrics, email, SMS, and magic link logins as alternatives to passwords. They also enable MFA as well as SSO login options. Depending on a business’s requirements, Auth0’s solutions can seem expensive.
The authentication platform can be deployed as a native or mobile app, web app, single-page app, or integrated using an API. Nonetheless, some users working on java projects find the implementation not as easy as it seems. Others also noted that their custom login features need improvement.
Apart from passwordless authentication, Auth0 also offers authorization solutions to verticals, giving them dynamic controls – from choosing the type of access to selecting people to be provided access. Enterprises will also be able to gain insights into customer behavior through their user management system. Some users wanting to fully automate their Auth0 solution might struggle with the lack of administration options available through their API.
Passbase
A Germany-based provider, Passbase offers a variety of identity solutions, including identity verification through biometric matching of a selfie to identity documents, age verification, and address verification. They also implement active liveness detection to ensure a user’s real-time presence during the proofing process.
In 2019, Passbase had planned on securing certifications from ISO and FIDO2 to boost its cybersecurity capability. Currently, their product listing is not yet labeled as FIDO2-certified on their website.
Passbase enables cloud-based and SDK integration into mobile and web applications. Though, when using particular browsers, like Chrome and Safari, some users have experienced loading and camera problems with the platform. Meanwhile, others encountered troubles in using their identity documents, having their credentials rejected.
Nok Nok
Also located in the US, Nok Nok is a pioneer in the passwordless authentication industry, offering FIDO2 enablement on the web, cloud, mobile, and IoT. Their product offering consists of multi-factor and biometric authentication protocols integrated across multiple channels through a single developer API.
This provider leverages mobile devices that support native biometrics and secure authentication to enable passwordless capabilities. Their technologies also help businesses ensure security at different transaction levels.
This provider, however, does not provide identity verification through biometric comparison of a person’s facial modalities to identity documents.
Some users have also experienced limited functions with the platform based on the type of mobile device used. In some instances, fingerprint support might not be operational.
ThumbSignIn
Biometrics and two-factor authentication (2FA) are the primary product lineup of ThumbSignIn, a US-based authentication solution provider.
Their FIDO2 Biometrics product allows users to authenticate on their mobile devices using fingerprint scans, facial recognition, or other biometrics and enables users to perform biometric e-signing. The company also offers Biometric UX Lite, which stores login credentials like passwords in a mobile keychain and requires the user to provide their biometrics before unlocking them.
Meanwhile, ThumbSignIn’s 2FA suite allows users to authenticate in various modes even if they do not have a smartphone. It has options for two-factor mobile push notification, SMS authentication, voice callback authentication, and time-based one-time passcodes (TOTP).
This authentication solution provider allows plug-and-play integration into existing programs, websites, and mobile apps, and offers a free version of their product.
While the company promises cost-effective and scalable technologies, some ThumbSignIn users find the lack of monitoring tools a disadvantage.
Others also experience difficulties with their SMS authentication, reporting that they do not receive the SMS code or they only receive one notification even if they have requested a code multiple times already. SMS OTPs and passwords are also vulnerable to phishing and SIM Swap attacks.
Onfido
Onfido is a trusted online facial biometrics solution provider located in the United Kingdom (UK). Its solutions assist in employee and customer onboarding.
This provider offers biometric verification, document verification, and frictionless authentication using facial biometrics. They harness mobile devices with built-in cameras to verify their users using a selfie and identity document method. Among the listed competitors in this post, Onfido is the only one that moves separately and independently from the FIDO Alliance.
In addition, although Onfido has promising offers, their prices might be intimidating for startups and small business owners. Some users have noted that their mobile SDK might not yield a favorable ROI because of the high cost.
Others also expressed some areas of improvement for the biometrics solution provider. One example is their document verification process which sometimes rejects original documents even after multiple uploads. Low-quality cameras and bad lighting can also affect the identity document check.
HYPR
HYPR is another US-based authentication solution provider. The company offers True Passwordless™ multi-factor authentication (MFA), Passwordless Customer Authentication, True Passwordless™ SSO, and Remote Login. Integration into existing platforms is also easier since they provide native plugins.
HYPR’s products allow users to turn their mobile devices into a FIDO2 token, creating a convenient and secure user experience. They also enable app-less authentication and offline mode, meaning users can utilize other authenticators if they do not have a smartphone or network access.
Through HYPR’s remote login feature, companies can boost workforce productivity by simplifying and unifying login in various channels.
If enterprises will work with HYPR, there are a few user feedback issues they should be aware of. For example, some users experience incompatibility with their mobile devices, suggesting better support for more phone models. There are also users who have encountered problems with authentication notifications.
Nevis
Nevis is a Swiss company that provides consumer identity and access management with its Customer Authentication Cloud and Identity Suite solutions. Its FIDO2-based authentication leverages facial and fingerprint recognition technologies and crypto chips supported by smartphones and other modern mobile devices. It also enables cryptographic signing of transactions.
Businesses can easily integrate Nevis’ browser-based and app-based login solutions into their current IT systems, allowing brand customization while eliminating unnecessary integration procedures. However, since Nevis’ deployment is primarily for web and mobile, clients needing on-premise hosting might find this limiting. Currently, Nevis’ solutions support only English and German languages.
Keyless Technologies
Keyless is a UK-based cybersecurity company providing biometric authentication and personal identity management solutions. It implements a privacy-first approach, following FIDO2 standards. Its zero-knowledge technology combines biometrics with cryptographic keys to enable passwordless MFA, SSO, and remote access.
Additionally, Keyless’ biometrics technology can be used to sign documents across various devices, eliminating the need to store or process additional personal data from the user.
When using their platform, it might be difficult to log in if the user does not have a high-quality camera and adequate lighting. Some users also noted that the pricing is expensive while its customer support still needs improvement.
Conclusion
Firms across many industries need to take security precautions and use more robust identity verification technology to avoid identity fraud and other malicious account takeovers.
Fortunately, there are many identity verification service providers on the market. Enterprises need to choose the solution that is most appropriate for their business and operational needs. Organizations can maximize their investment by working with a technology provider that provides adequate identity verification and identity document authentication and robust FIDO2 multi-factor authentication solutions on one platform. It will help them reduce fraud, streamline business operations, and increase efficiency.
Businesses can grow their customer base and revenue generation by deploying trusted identity verification technology.
Get Started with LoginID
To learn more about how LoginID can equip businesses with the necessary fraud prevention tools, get started by registering for a free account.
Also, visit LoginID's page here to know more about its FIDO2 passwordless authentication.
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