Passwordless Authentication: Regtech HYPR Introduces Solution for Securing the Modern Identity Lifecycle

Building upon its passwordless authentication expertise, HYPR announced the unified solution for securing the modern identity lifecycle, providing organizations with complete confidence that an individual is who they claim to be at all times.

The new solution reportedly “combines the strongest modern authentication capabilities with comprehensive risk assessment and enhanced identity verification to create a powerful end-to-end identity security solution.”

Organizations can now “detect, prevent, and eliminate identity-related risks at every point in the customer and employee identity lifecycle. Identity Assurance addresses the first tenet of Zero Trust by continuously verifying that only authorized individuals can gain access.”

In an era characterized by interconnectivity, rapid digitization, and generative AI attacks, the value of trusted identity “cannot be overstated.”

Recent HYPR research has “shown that authentication-attributed breaches cost organizations an average of $2.95M per year.”

This problem is further exacerbated “by legacy onboarding and identity verification experiences that are manual, disconnected, and significantly prone to fraud, impacting 95% of enterprise organizations.”

The current patchwork of partial and manual solutions “to identity-related security has organizations leaving gaping holes in their overall security strategy.”

Bojan Simic, CEO and CTO of HYPR, said:

“Identity-based security has lagged behind other areas in cybersecurity, leaving organizations exposed to gaps caused by siloed identity systems, disconnected identity verification and monitoring processes, and legacy authentication solutions. It is not enough to keep pace with change, identity and authentication security must outsmart, outwit and outpace the threats. Identity Assurance takes a truly comprehensive and proactive approach because Zero Trust starts at day zero. We built a solution that encompasses the entire identity lifecycle, ensuring that you can know that somebody is who they claim to be at all times.”

To complete the Identity Assurance vision, HYPR “announced its newest product offering, HYPR Affirm, providing integrated identity verification.”

HYPR Affirm supplies an innovative, user-friendly and secure method “for confirming workforce identities, ultimately enhancing the security of sensitive corporate information and systems.”

Organizations can transform how they address key moments “in their identity lifecycle including onboarding, daily access, step-up authentication for risk-prevention, identity verification in support of critical events or transactions, and offboarding.”

With features such as innovative chat and video interaction and integrated document verification that empower auditable attestation by managers, “all of the decisions are supported by a sophisticated system that combines artificial intelligence and human interaction to provide liveness detection, facial recognition and fraud detection.”

HYPR Affirm is integrated “with HYPR Authenticate and HYPR Adapt, providing an entirely passwordless user journey.”

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