NoPassword was founded in 2014, and launched – NoPassword Identity and Access Management Solution in early 2016. The company came into existence with the vision of a future free of passwords and data breaches, and where users’ sensitive information remains secure and private. They aim at redefining cyber security methods and disrupting the industry status quo by bringing security, privacy and convenience at the forefront of Identity and Access Management. NoPassword solution modernizes identity of enterprise workforce and consumers. The organization increases security and ease of use, and at the same time eliminates passwords and centralized credentials databases.
It is a known fact that 85% of cyber attacks are done through key logger attacks, social engineering, and phishing – all targeting passwords. This has caused the new trend of eliminating passwords to come into the picture. Cyber security is an ever-changing space. Companies and organizations face cyber attacks on a daily basis. In the age of smart devices, IOTs, many applications and accounts, users care about convenience and user experience as well of their security and privacy. Customers are dependent on their smart devices and IOTs. Customers who order rides, food and almost everything else from their phone, look for the same level of convenience when it comes to managing their accounts. They also care about their security and privacy, but as it is evident from all recent hacks such as Equifax, organizations and companies fail at keeping user’s sensitive information secure.
Three pillars of NoPassword are Privacy, Security, and Convenience. We designed NoPassword specifically with these elements in mind. NoPassword goes beyond Biometric Authentication and Intelligent Identity and Access Management (IAM) solution. The solution focuses on taking into account all of user’s behavioral and environmental factors and constantly checking that the right person is connected and there is no account take-over, without disturbing the user.
While there are other identity management solutions in the market, there are no other truly password-free solutions. NoPassword solution improves user experience dramatically since there is no manual entry of passwords, no forgotten passwords, and no complex password rotation policy. This means easy account setup and no service interruptions for enterprise customers. Since users don’t manually enter credentials with NoPassword solution, threats of phishing, social engineering, and key logger attacks are eliminated. It is important to highlight that the NoPassword solution does not have a centralized database of biometrics and passwords, therefore, even if NoPassword servers were to be hacked, there is no sensitive information to get compromised.
NoPassword uses biometric authentication (Face, Voice, Fingerprint, Iris and Behavior) on the user’s smartphone and then extracts hidden features from the phone to locally authenticate users. The identity management solution offers a variety of reports and audits, along with the ability to set access policies based on geo-location, IP time, and biometric methods. NoPassword Artificial Intelligence (AI) driven authentication also offers Adaptive authentication and Continuous authentication based on the user’s environment and behaviors. Whenever a suspicious activity on the phone or on the web is detected, access is automatically blocked and the user is notified. NoPassword also uses behavioral biometrics for continuous authentication and makes sure that the user who was originally granted access, continues to remain connected. NoPassword goes beyond authentication by offering a proprietary Identity and Access Management (IAM) solution that is unique to using biometrics and hidden features extracted from the user’s phone.
For NoPassword, the most important roadmap in the cybersecurity space is to evolve when necessary, innovate and stay ahead of sophisticated cyber attacks. Specifically, their future projects mainly focus on frictionless and secure authentication. The company leverages AI and user’s behaviour and environment to ensure the access of the right person to their account. At the moment, the NoPassword solution is only aimed at enterprises, but based on significant demand from individuals and the enterprise workforce who already use NoPassword for their work accounts, a NoPassword personal solution is in the works, and will be launched soon. This personal solution will allow individuals to manage all their personal accounts and applications securely and conveniently.