V-Tap will provide security and convenience for commercial online services consumers receiving service through Assurity’s National Authentication Framework, including securities trading firms, banks and insurance companies. A mobile soft token, Assurity’s hardware, and SMS authentication solutions will all be offered.
Users download the V-Tap-enabled OneKey mobile app and enroll with a registration code.
“This effectively binds their identity to their mobile device after which they can authenticate themselves and authorize transactions by means of the soft token,” Assurity said in a statement.
“With cyber threats becoming more sophisticated and the increasing number of people accessing their online accounts via mobile applications, there is a need to outpace these threats and provide end users with a highly secure and yet convenient authentication option,” Assurity CEO Charles Fan said. “The launch of this new soft token solution underscores our commitment to constantly seek safe and innovative solutions that cater to consumers’ security and lifestyle needs, such as enabling quick access to multiple online services with the use of a single authentication device.”
The V-Key software token combines hardware token security with an SMS-based one-time password. Unlike those passwords, soft token-based OTPs can work offline and do not need mobile network connections.