Report Summary: Keyless Shines in Liminal’s 2024 Market Overview on Customer Authentication

In a comprehensive assessment by Liminal, the Market Intelligence Firm, Keyless has been acknowledged as a leading innovator in the customer authentication sector. The 2024 Link™ Index for Customer Authentication shines a spotlight on Keyless among the top 15 vendors in a field that includes more than 50 companies across various industries.

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Market Evolution and Vendor Analysis

The report begins by reflecting the ongoing market shift. Customer authentication technologies are pivoting away from traditional, knowledge-based methods like passwords towards more advanced, user-friendly solutions. The most popular solutions are both flexible and scalable, and can blend seamlessly into existing security stacks and broader digital platforms.

The Liminal report notes that nearly 90% of surveyed businesses are interested in moving away from password-based authentication. Despite the enthusiasm, the transition is tempered by technical and educational barriers, with only a third likely to adopt these systems in the near future.

Keyless’ solution segments highlighted in the Link Index Report.

Keyless’ Distinctive Approach

Liminal notes that Keyless sets itself apart with its privacy-preserving biometric authentication solutions. The Link™ report explains how our flagship technology does not store biometric data, either locally or in the cloud, using advanced cryptography to authenticate user identities securely. This method not only enhances user privacy but helps businesses comply with stringent global regulations.

In the report, our Consumer Authentication solution is praised for its flexible multi-factor authentication (MFA) options and seamless Single Sign-On (SSO) integration, supported by strong API access. This flexibility allows for a highly adaptable authentication environment that easily integrates with existing business systems and Identity Verification (IDV) partners, facilitating efficient step-up authentication processes.

Our customers have expressed high satisfaction with the compatibility of Keyless’ platform across various device types, praising the intuitive nature of our dashboard and reporting mechanisms, and our ability to prevent ATOs. They appreciate how the authentication process mirrors the simplicity and speed of using Face ID on smartphones, with each authentication flow completed in about 300 milliseconds.

A typical passwordless login flow with Keyless

Product Highlights and Customer Impact

The adoption of customer authentication solutions like those provided by Keyless has led to significant operational benefits. These include a 38% reduction in account recoveries using call centers and a 60% reduction in related labor expenses. Moreover, businesses have noted a 13% decrease in customer churn and a 12% reduction in successful phishing attacks, thereby boosting the lifetime value of each customer and enhancing overall security.

Strategic Market Presence

Despite being a relatively newer player with a small team when compared to other Leaders such as Google, Okta, and Twilio, Keyless has established a strong market presence, particularly in Europe. The report notes that our strategic partnerships and focus on product development have facilitated steady growth and near-term plans include the continuing expansion of our market presence to North America, aiming to become a globally recognized name in customer authentication.

Conclusion

Keyless continues to lead the charge towards a safer, more private world. Our unique, privacy-preserving approach to biometrics are setting benchmarks in the industry and prove that advanced security and a better user experience can go hand in hand.

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