Out-of-band authentication is the two-factor authentication that requires a secondary verification technique via a separate communication network along with the ID and password for security. It is used in small medium and large size enterprises mainly in financial institutions, telecommunication, and other authentication security requiring applications for higher security.This growth is primarily driven by Growing Digital Security and Privacy Related Concerns in Various Industries and Need for Protecting the Network and Information Against the Hackers.
Globally, a noticeable market trend is evident Emerging Number of Authentication Options. Major Players, such as HYPR Corp (United States), Thales Group (Gemalto) (France), Deepnet Security (United Kingdom), StrikeForce Technologies (United States), SecurEnvoy Ltd (United Kingdom), Broadcom (United States), Symantec Corporation (United States) and Plurilock Security (Canada) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 19th May 2020, StrikeForce Technologies, Inc., announced that itís building the Industryís most secure video conferencing solution. Security features include Out-of-Band Authentication, Keystroke Encryption, Video Encryption, Audio Encryption, and the ability to prevent hackers from accessing your camera and microphone even when you're offline.
"The European Banking Authority (EBA) has recognized that of the different authentication elements (inherence, knowledge, and possession), inherence is the most innovative and fastest moving. Identifying a user by the way they type and swipe, and the angle at which they hold a device was highlighted by the EBA in June 2019 as a compliant way to achieve inherence for Strong Customer Authentication (SCA) as part of the EUís Second Payment Services Directive (PSD2)."
- Growing Digital Security and Privacy Related Concerns in Various Industries
- Need for Protecting the Network and Information Against the Hackers
- Emerging Number of Authentication Options
- Complexities Involved in the Out of Band Authentication
Surging Demand for the Out of Band Authentication in Financial Institutions as they Require High Level of Security
Technology and Supportability Related Problems with Out of Band Authentication
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