Gridsure partners Modirum for payments authentication
13 October 2010 | 2651 views | 0
GrIDsure, the innovative alternative to passwords and PINs, today announced it has formed a strategic partnership with Modirum, the authentication software and consulting company. As part of the partnership, Modirum will be integrating GrIDsure's innovative solution into its authentication customer offering.
The new partnership means that GrIDsure's one-time pattern-based passcode authentication system will be available as part of Modirum's '3-D Secure' offering for 'Verified by Visa' and 'MasterCard SecureCode' and internet banking authentication solutions. This will enable consumers to have a more secure alternative to traditional static passwords, when logging into web-based services. Modirum is a leader in providing secure authentication solutions and provides its '3-D Secure' software and services to banks, merchants, mobile operators, processors and other solution providers across the world. GrIDsure's authentication solution will now be available via Modirum to customers of 2,500 banks worldwide including Nordea, HSBC Turkey, Santander Consumer Bank, Societe Generale, Royal Bank of Canada and Handelsbanken.
Tribh Grewal, Managing Director, Modirum, commented: "We are constantly looking to enhance our products to support new authentication methods and GrIDsure has provided us with an elegant solution to bolster the front end access to protected systems with a tokenless, one-time-passcode generator. The solution is very easy to use, as patterns are easier to remember than traditional passwords. It is also low cost, as it doesn't require any additional hardware and is highly secure as there are numerous pattern possibilities."
"We believe that the combination of this innovative authentication method and Modirum's world-leading authentication platform will help bring about a paradigm shift in the adoption of strong and dynamic authentication. The solution brings strong authentication within the reach of far more consumers, many of whom have been demanding an improvement on the inadequate and outdated password and PIN -based solutions currently available. The flexibility of the GrIDsure one-time passcode system allows us to offer our clients several formats to choose from depending on the level of security required. The really good part is that the user experience remains the same whichever delivery mechanism is used.
Stephen Howes, CEO, GrIDsure commented: "Modirum is a significant company in the payment authentication space so we are very excited about the opportunities this partnership will bring. By integrating GrIDsure into its offering, Modirum has shown that GrIDsure can be an effective solution for authenticating customer payments by offering consumers a simple and secure way to authenticate themselves, while remaining cost-effective for the payment providers to implement and maintain."
GrIDsure's solution is based on its groundbreaking yet simple invention that allows users to authenticate themselves by remembering a minimum of a four block sequential pattern on a five by five grid. Each time the user logs in they are presented with a challenge grid with randomly generated characters within it, and they authenticate themselves by entering the numbers that refer to their personal identification pattern (PIP).