Passwords are inconvenient for customers, insecure, and a liability for businesses. Over 80% of data breaches (with an average cost of $3.9 Million) have a root cause related to passwords, and the average cost to reset a password through a help desk is $70. Businesses also see the impact of the password problem on conversion rates, as a third of online purchases are abandoned due to forgotten passwords.
LoginID's Passwordless authentication solution based on FIDO protocols is the answer to the password problem. LoginID's products are FIDO2 and UAF certified, and are packaged into easy to integrate APIs and SDKs which enable businesses and their customers to get all the benefits of FIDO, with none of the complications. LoginID enables businesses to make decisions for their users based on deterministic factors rather than probabilistic factors (e.g. risk modelling).
LoginID's Passwordless solution covers a variety of use cases to ensure wide coverage for users:
- One-Click Login: Once registered, customers are able to securely access the application they registered for using a one click action, typically through biometrics. A consistent user experience persists across channels, as our solution works through native mobile apps, mobile browsers, and laptop computers
- User Registration: Our registration flow combines user and credential registration to create a streamlined flow for easy integration
- One-Time Authentication: Support non-FIDO supported devices using the LoginID one-time authentication functionality; leverage an already registered device to authorize a login on another device
- Adding New Devices: For users with multiple devices LoginID can create a secure network of devices for the user by enabling the registration of additional devices. The addition of a device is authorized using an already registered device to ensure a secure experience
- Device Management: To manage devices, a portal can be leveraged where users are able to revoke, rename, and add new devices
LoginID's passwordless solution is the end to the tradeoff between security and user experience. LoginID's solution eliminates phishing, man-in-the-middle, and friendly fraud, while decreasing the cost of handling customers. This solution has been proven to increase overall usage as it significantly improves the overall customer satisfaction.