Unbound Tech announced the advancement of its Crypto-of-Things (CoT) solution – an endpoint security solution which removes dependence on traditional authentication methods, based on Unbound’s NextGen Key Orchestration Platform.
Now, businesses relying on hardware tokens, software tokens, and passwords can secure high-risk operations and authenticate transaction approvals without the typical security, usability, and cost trade-offs associated with those methods.
Businesses appreciate Unbound’s security and cost effectiveness, as it streamlines authentication and transaction approvals for a completely passwordless experience.
“Unbound’s CoT leverages our advanced software that seamlessly integrates and leverages a business’s existing security policies, while providing a unified interface with the highest degree of security for all types of devices,” says Unbound Tech’s co-founder and chief executive officer, Professor. Yehuda Lindell.
The concept of “going passwordless” is not new and has been a concept explored by the technology sector for years. In fact, 15 years ago, Microsoft founder, Bill Gates predicted that businesses would soon be phasing out password-based authentication.
Despite the importance of this move, adoption continues to be slow due to the fact that software-only platforms are not secure enough and hardware presents several user experience and operations issues.
“As we continue to innovate and advance our cryptographic key management platform in support of the expanding needs of the global economy, we remain steadfast in our commitment to deliver the most advanced security in practice that enables organizations to reduce the cost of utilizing multifactor authentication, while improving their customers’ experience,” adds Lindell.