New PrivaKey Service Enhances User Experience, Security, and Business Results
PHILADELPHIA, PA–(Marketwired – Apr 20, 2015) – Probaris has announced the launch of PrivaKey™, the company’s new cloud based multi-factor authentication service. PrivaKey was designed to relieve users of the burden of managing dozens of username and password combinations, and instead log into any PrivaKey enabled website or mobile app with a single 4-digit PIN. Enabling PrivaKey eliminates the user’s need to enter a password to authenticate to an online service.
Although many multi-factor authentication solutions have been on the market for years, adoption remains limited. Users tend to resist anything that introduces friction into an online transaction. Despite grave concerns about transaction security, online service providers have been reluctant to push strong authentication methods for fear of driving away users and hurting their businesses.
PrivaKey (rhymes with privacy) was designed to be so simple and convenient that users would prefer it over their current online experiences. Online service providers are eager to enable PrivaKey because improved user experiences lead to better financial results. Along with a better user experience, PrivaKey dramatically improves the security of online transactions.
PrivaKey is very low cost and easy to enable for relying party websites, online services, mobile apps, and for enterprise applications and services. No upfront capital investment is needed to enable the PrivaKey service. Best of all, it is free for consumers.
The simple concept behind PrivaKey is similar to the ATM card. Users simply download the PrivaKey app from the iTunes, Google Play, or the Windows Store. A simple registration process binds the user to the device that the app is installed on. The user can then use PrivaKey to authenticate to any participating relying party service using a single 4-digit PIN.
Probaris’ PrivaKey product was designed specifically to address the consumer adoption problem. User convenience and simplicity were paramount in the PrivaKey design, trumped only by requirement to achieve the highest possible security. From its conception, PrivaKey was designed to be easier for users than the ubiquitous username-password combinations in use today.
Upon launching the PrivaKey service, Probaris Chief Executive, Charles Durkin, stated, “We envision PrivaKey as the most common method that users will employ to access popular web destinations and mobile applications. We expect the same for financial services, retail, healthcare, and enterprise applications and services. This result will be driven by consumer demand, rather than mandates or relying party policies.”
Concurrent with the service launch, Probaris is inviting interested relying parties to enable PrivaKey for a limited period with no cost or obligation. A limited number of relying parties will be accepted into the early adopter program, and special terms will be offered should they choose to remain on the service after the trial period. Interested parties should contact Probaris for more information.
Probaris (www.probaris.com) is a leading provider of commercial identity and authentication software products and services. The company has been successfully delivering quality software and services to large enterprises and commercial businesses since 2000. PrivaKey (www.privakeyapp.com) is the company’s cloud based authentication service offering for relying party websites, online services, mobile applications, and enterprise applications and services.