The Traction Five: Cybersecurity – Passwordless

Fraud, identity theft, and breaches are on the rise, yet companies are still utilizing outdated password-based authentication methods with their users continuing bad password habits.  New passwordless authentication solutions are replacing these legacy methods, ensuring utmost identity verification and mitigating the risks associated with password-based systems.  Startups are focused on addressing the need for passwordless authentication with technologies like biometrics, magic links, hardware keys, and other innovative methods.

At the core of what we do is help our clients accelerate digital transformation projects and their corporate development, whether that’s through our SaaS application or research services that evaluate what we call “enterprise-ready” emerging technologies. Discovering technologies that solve our clients’ most challenging needs, we come across many early-stage companies that surprise and delight us. Here are a few who have developed game-changing technologies in the area of Passwordless that we think are worth sharing and keeping an eye on:

This week’s Traction Five:

1 Stytch: Stytch is building a developer platform with the tools and infrastructure to enable companies to incorporate passwordless authentication options into apps and websites. Their APIs and SDKs can improve user onboarding and retention by removing passwords from their applications and replacing them with more secure and low-friction authentication options including email magic links, one-click user invitations, biometrics, and SMS and Whatsapp passcodes.

2 Keyless: Keyless revolutionizes biometric authentication. By combining privacy-enhancing technologies and zero-knowledge cryptography with the convenience of modern biometric authentication methods, we eliminate fraud, phishing and credential reuse and provide seamless, consistent authentication experiences across every device for any digital interaction.

3 Yubico: Yubico is a leading provider of hardware authentication security keys called Yubikeys.  YubiKeys are the gold standard for phishing-resistant multi-factor authentication (MFA), enabling a single device to work across hundreds of consumer and enterprise applications and services without having to rely on outdated password technologies.

4 Beyond Identity: Beyond Identity verifies users by cryptographically binding identities to devices to provide the most secure and frictionless MFA experience ever.  Instead of passwords, users download the Beyond Identity Authenticator and set up their secure, device-bound credential for zero-friction passwordless authentication.

5 Veridium: Veridium is the most comprehensive Integrated Identity Platform powered by AI-based behavioral biometrics, enabling multi-factor authentication (MFA), digital ID verification, and a true enterprise-grade passwordless experience for employees and customers. Its flexible configuration is enabled by low-code and biometrics can be captured on virtually any device, using Veridium technology, or native biometrics.

How can Traction Technology help?

Traction Technology is a ground-breaking platform engineered expressly to eliminate internal innovation silos, thereby enabling enterprises to seamlessly collaborate and align their business needs with promising technologies. By providing dynamic features that promote collaboration and innovation, they aim to accelerate digital transformation in the enterprise.

Here's how Traction Technology can help:

Discovery of Relevant Startups: Traction Technology helps established companies discover relevant advanced technologies aligned with their strategic goals and innovation areas. It curates startups based on different industries, technology trends, and areas of business interest, making it easier to find potential partners or investment opportunities and share this information across the enterprise.

Collaboration and Engagement Tools: Traction Technology offers tools that help manage the engagement process with startups. It provides a structured approach to evaluating, tracking, and managing interactions with multiple startups across multiple project and pilots, improving efficiency and collaboration.

Data-Driven Insights: The platform provides data-driven insights to help make informed decisions. This includes information on startup funding, growth indicators, customers and competitors, which can help in assessing potential startup partnerships.

Innovation Pipeline Management: Traction Technology aids in managing the innovation pipeline. It helps companies capture ideas and request and track innovation projects, monitor progress, and measure results in real time, promoting a culture of continuous innovation.

Track KPIs and Generate Custom Reports: Effortlessly track Key Performance Indicators (KPIs) with real time dashboards and generate custom reports tailored to your organization's unique requirements. Stay

ahead of the curve by monitoring projects progress and engagement.

By leveraging a platform like Traction Technology, established companies can gain a competitive edge, driving their digital transformation journey and adapting to the fast-paced business environment. It supports the integration of startup agility, innovation, and customer-centric approach into their operations, which is critical for success in the digital age.

About Traction Technology 

We built Traction Technology to meet the needs of the most demanding customers, empowering individuals and teams to accelerate and help automate the discovery and evaluation of emerging technologies. Traction Technology speeds up the time to innovation at large enterprises, saving valuable time and money by accelerating revenue-producing digital transformation projects and reducing the strain on internal resources, while significantly mitigating the risk inherent in working with early-stage technologies.

Let us share some case studies and see if there is a fit based on your needs.

‍Traction Report Update: 23 ways AI could  transform your business in 2023. 

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