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Cybersecurity Company, OneSpan, Launches Cloud-Connected Devices

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Cybersecurity company, OneSpan, has launched Digipass CX, a range of cloud-connected devices. These new devices provide a solution that eliminates the need for one-time passwords (OTPs) to fight phishing attacks and improve security.

These new devices, offer secure remote updates to independent hardware. This cloud-enabled approach could be critical in a threat environment where enterprises must respond quickly to ever-more sophisticated attacks.

The devices allow users to, include fingerprint biometrics, to ensure the integrity of authentication in high-value transactions and agreements. These also allow a user to select from multiple authentication protocols – including industry standard FIDO2 and OATH. This cloud-connected device brings a higher level of assurance to the ever-growing problem of identity and credential theft.

In today’s mobile economy, identity theft and credential theft continue to accelerate year on year, with both consumers and employees being targeted. These attacks can cause reputational damage, customer churn, and billions lost in revenue. Traditional authentication approaches -- that rely on usernames and passwords and even multifactor authentication based on email or SMS -- are increasingly at risk as they have been proven to be easily compromised and are often dependent on users making informed security decisions.

“As the era of Web 3.0 continues to evolve, many organisations are ill-equipped for this next phase of the internet, and the accompanying global crisis happening with identity and credential theft that has remained nearly unstoppable,” said Matthew Moynahan, President and CEO at OneSpan. “Solutions based on legacy hardware devices are no longer relevant today because they do not provide continuous and connected security, and they are not woven throughout the entire transaction journey. That’s why current solutions won’t stand up in the era of Web 3.0. We aren’t securing endpoints anymore; we are securing digital processes and customer interactions requiring continuous authentication and identity verification - no matter where that interaction takes place.”

The new Digipass CX will allow users to log in or authorise transactions and agreements anytime, anywhere – on a desktop, laptop or smartphone, use high-security fingerprint biometrics. However, it is another piece of kit that users must carry around.

DIGIPASS CX is expected to be generally available in the second quarter of 2023.