AUSTIN, Texas--(BUSINESS WIRE)--HID Global®, a worldwide leader in trusted identity solutions, today announced that it has been recognized by Enterprise Security Magazine as one of the top ten providers of multi-factor authentication technology in the world.
Touted by security experts as one of the most critical methods for ensuring that only authorized people may access important data, multi-factor authentication protects digital identities and online information. It prevents fraudulent access that happens when username and password are stolen.
“When people think of multi-factor authentication, they now increasingly think of HID Global,” said Brad Jarvis, Vice President and Managing Director, IAM Solutions, HID Global. “Recognition of HID as a leader in the multi-factor authentication market underscores our commitment to securing digital identities and creating trusted digital and physical environments.”
The rise of multi-factor authentication in importance in recent years is a direct response to all the major data breaches that have rocked people’s confidence in accessing online accounts. Javelin Strategy & Research reported its most recent Identity Fraud Study that the number of identity fraud victims increased by eight percent to 16.7 million U.S. consumers in 2018. Moreover, account takeovers tripled over the past year, with total losses growing to $5.1 billion.
High-profile data breaches have happened recently because hackers exploited a critical vulnerability: all that was required to gain access to networks, databases and physical locations was the single authentication factor of something you know – usually a username and password, which can be relatively easy for fraudsters to acquire. Verizon did a study (Verizon, 2017 Data Breach Investigations Report) that claimed 81% of data breaches globally involved the misuse of stolen or weak passwords.
Multi-factor authentication solves this problem by combining one or more “factors”: something you have (a smart card or a mobile credential carried on a smartphone or other mobile device); something you know (such as a PIN), and something you are (biometrics). Adding multiple factors increases security by creating an additional barrier against account takeovers and digital identity theft.
HID Global is an expert in providing governments, financial institutions, universities, healthcare networks and enterprise organizations with the tools to verify and protect identities with multi-factor authentication technologies. Bolstered by a broad product portfolio for managing and authenticating identities, HID is an industry leader in smart cards and offers advanced biometrics solutions. Furthermore, HID uniquely delivers an advanced, layered, strong authentication capability that utilizes mobile technology to ensure simplified, secure access.
For more information about HID’s Multi-factor Authentication Solution portfolio, please click here.
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About HID Global
HID Global powers the trusted identities of the world’s people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people around the world use HID products and services to navigate their everyday lives, and over 2 billion things are connected through HID technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet. Headquartered in Austin, Texas, HID Global has over 3,000 employees worldwide and operates international offices that support more than 100 countries. HID Global® is an ASSA ABLOY Group brand. For more information, visit www.hidglobal.com.
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