September 15, 2016 -
Hoyos Labs has relaunched as Veridium as it introduces its end-to-end biometric authentication software for organizations in industries that handle sensitive data. The company is launching VeridiumID along with its new brand, to offer enterprises a way to completely replace passwords with face, voice, and fingerprint authentication.
As Hoyos Labs, the company received eight patents, and it has another 34 pending. Now, as Veridium, it will apply some of that research and development to a product offering focused on enterprises in the Global 2000, financial services, healthcare, and government. Veridium is building with an open standard to encourage development with its products.
Citing a recent Verizon report that showed 63 percent of confirmed data breaches could be traced to weak, default, or stolen passwords, Veridium sees a robust market for server-based biometric authentication system VeridiumID as a replacement or second factor to compliment passwords to prevent data breaches and fraud.
Veridium supplies a front-end SDK to connect the enterprise mobile app to VeridiumID. The product protects biometric data by separating it into pieces, and dividing them between the server and the user’s smartphone. “We’re going to replace what you know (passwords) with what you are (biometrics) to safeguard enterprises from fraud and data breaches,” said Todd Shollenbarger, COO, Veridium. “It’s a simple goal but there are a litany of reasons why biometrics have not yet been adopted on a widespread basis, including high cost, the complexity of implementation and, perhaps ironically, security concerns. Our flagship solution VeridiumID solves all of these issues. We lower costs and address implementation challenges because we can use SaaS-delivery for the back-end technology and users’ smartphones as the image capture device to authenticate. We’re making biometric authentication a solution of today, not tomorrow.”
VeridiumID can be hosted on-premises or in the cloud, and provides user control from an administrative dashboard. It supports multiple plug-and-play biometric libraries, including Veridium’s own 4 Fingers TouchlessID. It is flexible and integrates with existing IT environments, according to the announcement, with support for Active Directory or FIDO authenticators without additional hardware.
VeridiumID also includes liveness detection capabilities to thwart spoofing.
Previously reported, the company named a new CTO in July.