FB pixel

Sift acquires Keyless to add biometric passwordless MFA to fraud prevention portfolio

Categories Access Control  |  Biometrics News  |  Trade Notes
Sift acquires Keyless to add biometric passwordless MFA to fraud prevention portfolio
 

Keyless has been acquired by payment fraud prevention leader Sift to integrate the former’s innovative biometric authentication technology for eliminating passwords.

Sift praised Keyless’ capability to eliminate account takeover fraud with its zero-knowledge cryptography and privacy-preserving biometrics, its FIDO Certification, and its support for GDPR compliance, PSD2’s Strong Customer Authentication requirements.

Sift has also added $25 million to a Series E funding round that brought in $50 million earlier this year, raising its valuation from $1 billion in April to $1.7 billion, according to a company announcement.

Keyless raised $9.2 million in a funding round that closed in April, just as the company concluded a series of partnerships with OneLogin, Auth0 and Microsoft.

The company provides SDKs for businesses to deploy biometrics for interoperable passwordless logins on websites and apps and an authenticator app for integration into logic systems, with users authenticating with face biometrics through the device camera or webcam.

“Protecting businesses from fraud while reducing customer friction is the foundation of a Digital Trust & Safety strategy,” states Marc Olesen, president and CEO of Sift. “Keyless has created a truly innovative product that provides better account security with less friction for users, and meets the qualifications for regional regulations like PSD2. We’re so excited to bring the Keyless team to Sift and for our customers to benefit from their incredible technology and expertise.”

“Our mission at Keyless is to provide people and organizations with a passwordless future, where the user is the key,” says Andrea Carmignani, CEO and co-founder of Keyless. “Joining Sift will allow us to reach businesses around the world, stop account takeover attacks at scale, and ensure that users can authenticate seamlessly across devices with nothing more than a glance at their device’s camera.”

FIDO Alliance Executive Director and CMO Andrew Shikiar lauds Keyless’ novel approach to authentication leveraging FIDO protocols, claiming that “Advances in biometric technology have signaled the beginning of the end for passwords.”

The terms of the transaction were not disclosed.

Article Topics

 |   |   |   |   |   |   |   |   |   |   |   | 

Latest Biometrics News

 

Tech5 to provide decentralized DPI for Honduras

Having acquired patent protection for its decentralized system for digital identity issuance and verification, Swiss biometrics provider Tech5 has scored…

 

Xperix to reveal ultra-compact FAP 60 biometric scanner at ID4Africa 2025

Xperix is expanding its portfolio of fingerprint biometric scanners with the introduction of a new optical FAP 60 scanner the…

 

Sri Lanka to call tenders for MOSIP implementation

Tenders for implementation of MOSIP (Modular Open-Source Identity Platform), an open-source software system that will be used to create and…

 

Decentralized identity needs its iPod moment, identity veteran says

The message came from Charles Walton, principal at Agosti Group and former SVP of Identity at Avast and Mastercard. He,…

 

Thales driving digital inclusion, behind one in every three smart civil IDs

Thales is marking its dominant presence in digital identification with the company behind one in three civil IDs delivered each…

 

Clearview betting on political ties to grow federal contracts

When Hal Lambert, a Republican political financier with longstanding ties to conservative circles, was announced as co-CEO of Clearview AI…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events