Crayonic KeyVault(™) Device launching on the FIDO Standard Utilizing Advanced Features later this year
Crayonic, a leading provider of decentralized identity and authentication security solutions, announced it became an Associate Member of the FIDO (Fast IDentity Online) Alliance, a cross-industry coalition developing open, interoperable authentication standards that reduce reliance on passwords with authentication that is more secure, private and easier to use.
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The FIDO Alliance was publicly launched in 2013, as an open industry association focused on the creation of authentication standards that enable the reduction of the world’s over-reliance on passwords. The standards are based on public-key cryptography and reinforce the security of online authentication systems on the web and online. Over 275 companies, including leading software platforms, healthcare, and financial service firms have partnered with FIDO to boost account security and protect data.
“The FIDO Alliance is proud of our associate member, Crayonic, for its dedication to the vision of industry standards for strong authentication. They join a powerful FIDO ecosystem vital to widespread adoption of interoperable, strong authentication that simplifies the user experience while raising security and privacy at the same time,” said Andrew Shikiar, executive director and CMO of the FIDO Alliance.
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“As an early innovator in zero-trust security and decentralized identities, Crayonic recognizes the value of the FIDO framework and standards which is being widely adopted by the industry to protect access,” said Peter Kolarov, CEO Crayonic. “Secure identity and access solutions are more critical than ever before as bad actors have been taking advantage of COVID-19 with increased levels of phishing and financial fraud, while employees attempt to work remotely often bypassing security protocols and exposing sensitive data. The requirement for a zero-trust FIDO compliant solution built on certified secure end-user devices and decentralized access management services that protect corporate assets is more important than ever before.”
According to a new report from Microsoft, COVID-19-themed cyber-attacks spiked to nearly a million a day during the first week of March. The FBI’s Internet Crime Complaint Center reported a 300% increase in cyber-crimes and ZD Net reported a 238% increase in bank cyber-attacks linked to COVID-19.
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