LaserLock to provide multi-factor authentication solution to major financial advisor
LaserLock Technologies announced it has signed a deal to license its VerifyMe Identity Services platform to a major financial services advisory company, which regularly updates holdings from thousands of institutions nightly.
This marks the second customer LaserLock Technologies has announced in less than a month, following the signing of a 10-year, $7 million contract with a Mexican gaming company for its VerifyMe Identity and authentication services.
LaserLock has not released the name of the financial services advisory company, which will use VerifyMe to safeguard its users from identity fraud when logging onto its system.
VerifyMe Identity Services is a multi-factor authentication solution that is compliant with the strict security standards implemented by the US National Institute of Standards and Technology (NIST).
LaserLock’s system uses three human authentication factors to verify the person’s identity, which is typically a biometric such as facial recognition; something the person has, such as a smartphone; and something the person would know.
The solution is also able to geo-tag users in applications for which geo-location information is needed.
“Identity theft is no longer just the tagline of television and movie scripts. People can barely open up a newspaper or turn on the television without hearing about another identity breach. LaserLock’s technologies were created to put an end to what has unfortunately become a daily occurrence,” said LastLock CEO Neil Alpert. “We are very proud of this milestone in the financial services industry. Now is the time to replace the broken system of passwords and VerifyMe is the ideal technology to do so.”