Xura, Inc. has announced its strategic partnership with SMS PASSCODE, a provider of adaptive multi-factor authentication. Xura complements SMS PASSCODE’s authentication suite by providing reliable and secure messaging connectivity world-wide, through carrier-grade communications.
In today’s world driven by mobile devices and digital services, companies increasingly face the challenge of protecting both employees and consumers from fraud, while also allowing them easy access to information, services and applications. At the same time, due to the increase in major security breaches, users themselves are driving demand for greater security measures to avoid personal data being compromised. Businesses are taking heed by increasing the authentication methods available to their employees and customers, but finding the balance of security vs cost, convenience and ease of use, is challenging, and working environment trends such as BOYD (bring your own device) add further complexities for enterprises.
One-time passcodes sent to a mobile device, also known as two-factor authentication (2FA or mobile Transaction Authentication Number – mTAN), is commonly used by financial institutions to provide an extra layer of security from standard username and password log-in. This is ideal for employee authentication, particularly for companies who may have contractors, partners and employees where varying levels of additional verification is required.
Xura enriches SMS PASSCODE’s adaptive, multi-factor authentication suite for enterprises, by providing secure carrier-grade, SMS and IP messaging delivery globally. Xura’s IP messaging technology powers signed and highly encrypted transmission of passcodes to the recipient’s mobile device via its secure app and storage facility, trustego, adding another layer to SMS PASSCODE’s authentication solution.
With Xura’s trustego platform, users can choose to receive encrypted PIN codes by IP message (in-app notification) or by text message, protecting end-user data and helping businesses realise additional security benefits. There is also the option of sending an in-app (IP) messages first, and if the message is not opened within a set time period, the system will trigger a text message to be sent instead. The trustego app can be downloaded from the app stores, but can also be white labelled and is available via an SDK.
“Xura’s and SMS PASSCODE’s strategic partnership brings together the latest and most accessible messaging technologies to provide an intelligent authentication service with the greatest reach, and convenience to users – via their mobile. This offers the best value, along with the highest level of reliability and security, meaning data, networks, websites and apps are protected. Collectively, we give users secure access and flexibility to information they need, while ensuring increased productivity for an increasingly mobile consumer and workforce,” said Eric Bilange, EVP, Enterprise, Xura.
“When providing the best quality security solutions, we required a partner who specialises in mobile support for enterprises and complies with the highest requirements in coverage, availability, security and performance. Xura assists in enabling and securing customer oriented processes with rich communication solutions,” commented Claus Rosendal, CTO at SMS PASSCODE. “By integrating Xura’s technology with ours, we are in the position to roll out a turn-key solution for strong authentication based on the latest security advancements. We can also help replace cost-intensive, inflexible and less secure hardware token installations and have a system up and running in a matter of hours.”
Ahead of Xura’s attendance at Money20/20 Europe, Xura and SMS PASSCODE will be co-hosting a webinar on 16th March, entitled “Simple and Secure: Multi-Factor Authentication For Financial Services Webinar”, to explore the cyber risks facing today’s financial services world, and solidify the importance of strong, secure authentication methods. The company will showcase the latest trends in 2FA and multi-factor authentication, and discuss how using stronger authentication methods can help finance service providers comply with regulatory requirements such as Sarbanes–Oxley, European Data Directives and The Federal Financial Institutions Examination Council. To register for this webinar, please click here.
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