Digital identity and credentials company Intercede has released its new, cloud-based “strong credentials” enterprise service. MyID as a Service (MyIDaaS) replaces passwords with unique and secure digital identities and an authentication process which improves the user experience.
The announcement comes as President Donald Trump’s Executive Order on Cybersecurity compels private and public critical infrastructure providers to ensure they universally apply the highest recommended cybersecurity standards. NIST Special Publication 800-171 for government contractors mandates multi-factor authentication to ensure higher levels of identity assurance. Across the pond, regulations including PSD2, GDPR and MiFID II all require customer authentication-enabled enhanced digital trust levels.
MyIDaaS lets companies replace employee passwords with digital identities on real or virtual smart cards, pluggable tokens, mobile devices and embedded security modules. It manages the credential lifecycle by automatically updating prior to expiry and revoking when an employee leaves the company.
“Regardless of the organization in question, weak or compromised credentials continue to be today’s security downfall,” Intercede CEO Richard Parris said. “Usernames and passwords are the number one cause of the majority of data breaches. While there have been solutions to this problem for a number of years, most of them have been inaccessible to companies with limited IT budgets, scarce resources and a lack of in-house security skills.
“For over 20 years, Intercede has been at the forefront of securing some of the most sensitive and critical industries, including defense, aerospace, government and financial institutions. Through MyIDaaS, we’re now offering that same level of security to businesses, without the pain of infrastructure overhaul or hefty costs.”
MyIDaaS clients receive a dedicated certification authority and the option to deploy digital identities on to hardware-secured zones within existing enterprise computers and devices.