August 11, 2014 -
Coinsetter, a virtual currency exchange, announced it has added a new advanced security measure for its multifactor authentication platform, LaunchKey for Coinsetter.
Coinsetter recently partnered with LaunchKey to launch a comprehensive solution which enables users to pair LaunchKey with their Coinsetter account, implementing a minimum of seven authentication factors to confirm their identity before any user can successfully log into their account.
Now, Coinsetter has added biometric facial recognition and biometric fingerprint scanning to the LaunchKey for Coinsetter functionality in an effort to both securely and conveniently confirm the identity of the registered customer.
Coinsetter said that the biometric data which is used to protect Coinsetter customers’ accounts is also encrypted on their mobile devices, rather than on LaunchKey or Coinsetter servers, preventing the sensitive data from being compromised.
As part of the new functionality, Coinsetter has extended the biometric facial recognition facility to both iOS and Android mobile devices.
Biometric fingerprint scanning functionality is already available on Android devices and will also be offered to Apple iPhone users with the upcoming release of iOS 8.