With an array of international awards to its name for its innovative privacy technologies in 2014, Sedicii will launch its UNITY suite of authentication solutions at Finovate London on February 10th.
Sedicii Unity is patented technology that uses the Zero Knowledge Proof Protocol to protect passwords and other private data. With Unity private data is not transmitted or stored anywhere when a person authenticates themselves, processes a payment or verifies their identity. The Sedicii methodology proves that two parties know the same information without ever exchanging or exposing this information, thus providing the capability to prove identity without ever exchanging the actual attribute data. In protecting the user’s private data, Sedicii eliminates a person’s exposure to identity theft, impersonation and any resulting fraud. Sedicii’s Unity Authentication service provides robust and innovative authentication increases convenience, whilst radically improving the security of users’ data.
In 2014, over £300M has been stolen from both industry and consumers through the exploitation of authentication processes and from the hacking of private user data that is centrally stored on servers. With the growth in mobile commerce and in new digital services (IoT, etc), and with the enhanced sophistication of data hacking technology, private user data will become more vulnerable to theft. Current methods of protecting private user information, required for authentication, is open to exploitation. New and more secure methods are needed. The Sedicii Unity service delivers a better way of securing users’ private data when it is used online.
At a fundamental level, Sedicii provides a robust and intuitive anti-phishing, single sign-on capability with mutual authentication, where users are not requested to reveal their passwords at visited websites. Sedicii enables a single authentication service so a user can access many different services with a single password - that no-one other than the user ever knows - to access all Sedicii enabled websites, applications, networks and tele-services. Sedicii’s Unity authenticates you without ever exchanging, storing or exposing your password or other personal user information. It is an easy to use, robust and scalable solution to the challenge of authenticating people for all kinds of digital services in the 21st century. After considerable market validation and product testing, Sedicii is launching the following three services at Finovate:
- Sedicii Unity Website Authentication: A user-friendly and secure authentication service that splits the login process to protect websites against man-in-the-middle and man-in-the-browser malware attacks while maintaining user convenience for mobile banking or enterprise log-in.
- Sedicii Unity Contact Centre Authentication: A secure authentication service to identify callers inbound to, and more importantly calls outbound from, a contact centre in real time, eliminating the need for either party to expose private information during the course of the authentication. This solution will deliver up to 20% cost efficiencies to current methods to authenticate.
- Sedicii Unity Card Payment Authorisation: A secure and convenient way to authorise card not present (CNP) payments at Sedicii enabled merchant websites or apps. Sedicii Unity provides the merchant with a non-repudiable method for a person to authorise a CNP transaction. In this process, the card owner will be bound to the credit card in a highly secure manner to support non-repudiation of transactions and avoid fraudulent CNP transactions that could result in financial costs.
Sedicii is also working with key industry leaders in defining and piloting trusted identity verification, federated identity solutions for general release in 2015.
Commenting on the launch of Unity, Rob Leslie, Sedicii CEO said: “After winning eight and achieving semi-finalist positions in ten more international awards in 2014, the Sedicii Unity service being launched to-day is based on a very strong, futureproof method of authenticating people. Our solutions have been validated by very respected organisations and we are now looking to launch to the wider market. We look forward to sharing further information with both innovators and financers at Finovate”.