Robust identification and verification schemes help establish trust with customers. Service providers need to know that the customer really is who he is claiming to be. This applies not only to the initial moment of onboarding a new user, but to each service access, in order to prevent fraudulent behavior.
On the other hand, customers want to be sure that their private data is handled with care, secured and that both unauthorized access as well as misuse are made impossible.
Multi-factor authentication uses two or more ways of confirming a customers' identity. This is entirely configurable and depends on the business needs, but ideally combines something the user KNOWS (password), HAS (smart device) and IS (biometrics).
Strong customer authentication depends on the combination of two or more mechanisms of identification. Blinking provides combinations of username and password, smart devices and various biometric modalities in the form of fingerprint scan or face recognition, with the possibility of adding new ones. Service providers decide the number of steps and modalities required for authorization, as well as define distinct configurations for specific services.
We use advanced algorithms for biometric recognition with liveness detection. Since we treat biometric data like any other sensitive data, each individual data is encrypted, hashed and its signatures are stored on the blockchain, while data itself is kept off-chain in a distributed storage. Signatures are decrypted and verified by the network when a customer accesses his data, leading to new re-encryption each time he is done using the service.
Our MFA solution provides businesses with a secure way for their clients to access their services.
It provides customers with true ownership and a single point of control over their private data. They can manage their digital identity and personal information.
Since all our solutions are based on the private blockchain technology, MFA gives customers an immutable internal log that at every moment provides them knowledge of who, why and when accessed or in any way used their private data.
Many benefits of our solution especially come to fruition in a consortium-based environment. In such a model, SSO (Single-Sign-On) function can provide a truly seamless user experience across a range of members' services while never sacrificing data protection and security.