Nobody likes passwords. The average person has more than 100 passwords to manage, which often makes it difficult and frustrating to complete even the simplest online transactions. Enter Mitek’s MiPass, a passwordless identity authentication solution that allows a person to easily and securely access digital accounts using two unique features: voice and face.
- How: To access a digital account with MiPass, a person simply uses a smartphone to take a quick selfie and then write down a phrase.
- Why: Combining the two is a significant security boost beyond the facial recognition-only systems many use today. Authenticating digital identities with MiPass reduces the risks associated with biometric data stored on a device that can be easily compromised, transferred between people or overwritten with a simple password.
“MiPass provides the highest level of digital security available today,” said Mitek CTO Steve Ritter. “MiPass combines voice and face recognition with the use of sophisticated the expression of liveliness technology to protect against digital and deepfake attacks in real time.”
Secure and easy account access helps both companies and their customers
Experts estimate that more than 80% of breaches involve the use of stolen passwords or credentials, a fraud that can cost a large company up to $1 million a year. By moving to a more secure, passwordless approach to digitally authenticating accounts, companies can increase customer loyalty and reduce their own risk from identity theft and account takeover attacks.
Because MiPass’ algorithms have been developed and tested on balanced and representative datasets to avoid bias, MiPass can accurately identify customers regardless of race, ethnicity, age or gender.
According to a recent YouGov study, 74% of people say they want their bank to implement the latest technology to keep their account safe. More than 44% of adults ages 18-34 say they would like their bank to adopt newer, more modern technology to make it easier to log into their accounts.
“Businesses are most concerned about the trust and security of their customers,” said Mitek Product Manager Chris Briggs. “Mitek understands this. That’s why we focus all our attention on bringing to market products that provide reliable access to the Internet. People are most loyal to companies that offer both convenience and security. That’s where MiPass excels.”
The MiPass demo is now available
The developer-friendly SDK makes it easy to integrate MiPass into a wide variety of customer use cases, such as simple account information updates, password resets, device re-pairing, and high-risk financial transactions.
Learn more about MiPass and Mitek’s password-free approach to hassle-free, secure digital access.
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