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Revolutionary is a word that’s often thrown around lightly. Not this time. ThreatMetrix’s revolutionary new offering vastly improves enterprise security using real-time identity analytics and federated trust. To the organization, this means low TCO (total cost of ownership) and better security. To the user, it means a more hassle-free experience.
As it happens, the ThreatMetrix offering coincides with the RSA Conference 2014, which is scheduled to run from February 24-28 at the Moscone Center in San Francisco. ThreatMetrix will be exhibiting in booth 232 in the South Expo Hall.
Bring-your-own-device (BYOD) and cloud-based applications challenge security professionals to find new ways to improve security from the use of simple username and password verification and cumbersome two-factor authentication — and to find a solution without negatively impacting user experience.
“No enterprise wants to be called out for falling victim to a data breach, as it erodes trust,” said Reed Taussig, president and CEO, ThreatMetrix. “However, if enterprises implement time consuming authentication techniques, this will erode overall productivity and motivate the workforce to find ways around the authentication. This is where frictionless context-based authentication comes into play, which establishes trust for each account login based on fully anonymous user identity, device usage, geolocation, behavior and other factors without compromising consumer identity or workforce efficiency.”
Note that the Gartner Magic Quadrant for User Authentication this past December estimated that by year-end 2016, more than 30 percent of enterprises would be using contextual authentication for remote workforce access.
Benefits to context-based authentication include:
• Frictionless access – Real-time, passive assessment of the login context through frictionless two-factor authentication lets businesses streamline access for known and trusted combinations of accounts and devices. This reduces workforce effort and inconvenience because it doesn’t require additional one-time passwords for each login.
• Increased security – Combining global federated trust identities with context-based authentication enables businesses to quickly and easily identify high-risk connections that have the potential to compromise corporate IP and valuable data. High-risk connections include devices that are part of botnets and the use of spoofed and compromised identities or devices that are known to be involved with fraudulent access across the ThreatMetrix™ Global Trust Intelligence Network (The Network).
• Operational Efficiency – Real-time API-driven big data analytics makes for actionable intelligence at the point of control instead of that information being stored in a data warehouse.
“Enterprise adaptive access control combines contextual information and user credentials to evaluate the risk of users attempting to access resources. Once the purview of e-commerce and financial services, adaptive access is finding an increased role in workforce identity — particularly for mobile device use cases.” — Gartner’s Trent Henry in “Adaptive Access Control Brings Together Identity, Risk and Context.”
ThreatMetrix provides one of the most powerful context-based authentication and fraud prevention solutions on the market by leveraging the vast amount of data in The Network, one of the largest fully anonymized global identity and fraud networks in the world. Through The Network, ThreatMetrix protects more than 160 million active user accounts, 2,500 customers and 10,000 websites.
“All ThreatMetrix customers benefit from anonymized shared identity and threat data worldwide across The Network, increasing the quality and value of the data as The Network grows,” said Taussig. “Due to shared data on The Network, in the United States, for example, we have an 80 percent recognition rate for users attempting an account login. This means that for four in five logins, ThreatMetrix recognizes at least one anonymized data point from previous activity in The Network – such as the email address, telephone number or account name. This offers enterprises and other businesses a full 360 degree assessment of a user’s risk to more accurately differentiate between hackers and valid workforce access.”
Federating identities without federating trust is an open invitation to cybercriminals. By combining context-based authentication and a global federated identity network, ThreatMetrix offers the most efficient and cost-effective way for enterprises to reduce the threat of data breaches from unauthorized application access. Here is protection not only from external threats, but from employees who might, for example, share their passwords with colleagues.
In addition to its evolution as a context-based authentication provider for enterprises, ThreatMetrix continues to build trust on the Internet by protecting businesses against threats that include account takeover, payment fraud, fraudulent account registration and multi-channel Web fraud. Industries ThreatMetrix protects include financial services, e-commerce, payments, government agencies and social networks.
To learn more about ThreatMetrix’s context-based authentication and advanced fraud solutions, stop by booth 232 in the South Expo at RSA Conference 2014. During the conference, ThreatMetrix is also a proud sponsor of the Alta Associate’s Executive Women’s Forum Reception, which takes place Wednesday, February 26, 7-9 p.m. at the W Hotel in San Francisco.