Keyless has been highlighted among the top ATO prevention vendors in the 

2024 Market and Buyer's Guide for Account Takeover Prevention in Banking

, authored by Digital Identity Strategy Firm Liminal. This report recognizes Keyless alongside industry leaders like Akamai Technologies, Feedzai, Fortinet, IBM, LexisNexis Risk Solutions, and Palo Alto Networks, each playing a pivotal role in fortifying the banking sector against the rising tide of account takeover incidents.

Phishing is the most significant ATO threat vector

, accounting for 26.7% of all account takeovers and standing as the most common method attackers use to access user accounts.

External Vendor Reliance: Despite the potential for in-house development, banks continue to prefer outsourcing ATO prevention solutions. 

Only 20% of fraud teams have plans to develop solutions internally

, with half not expecting to undertake these developments for at least two years.

: Out of a wide range of authentication methods surveyed, including app-based authentication, data breach monitoring, SMS OTPs, Behavioral Biometrics, Risk Scoring, and Bot Detection, an overwhelming 

88% of survey participants strongly prefer biometric authentication

, marking it as a critical capability for combating account takeovers.

Market Analysis, Vendor Profiles, and Emerging Trends

Liminal's 2024 guide offers an in-depth analysis of current market dynamics in account takeover prevention, featuring detailed profiles of leading vendors including their strategic approaches to mitigating ATO risks. The report highlights the complexities of phishing attacks, mobile security vulnerabilities, and the regulatory landscapes affecting global markets. Additionally, it identifies emerging trends in the cybersecurity landscape, stressing the escalation of cyberattacks and the critical need for advanced digital defenses. The guide emphasizes the importance of adopting sophisticated security measures like continuous authentication and biometrics to combat these evolving threats effectively.

Highlighting Advanced Security Innovations

Liminal's 2024 guide on Account Takeover Prevention in Banking accentuates the critical role of innovative technologies in safeguarding against unauthorized access. Keyless distinguishes itself by implementing several advanced methods:

As the digital banking ecosystem continues to expand and evolve, so too does the landscape of security threats. 

Liminal’s 2024 Market and Buyer's Guide

 not only charts the current state of account takeover prevention but also projects future developments in the field. It is an indispensable resource for those committed to staying ahead of potential security threats in an increasingly digital world.

We encourage banking professionals and cybersecurity experts to read the full report to better understand how Keyless, together with other leaders in the field, are innovating and shaping the future of banking security.

Keyless Featured in Liminal Research Report on ATO Prevention in Banking

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.

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.

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

The adoption of customer authentication solutions like those provided by Keyless has led to significant operational benefits. These include a 

 in account recoveries using call centers and a 

 in related labor expenses. Moreover, businesses have noted a 

 in successful phishing attacks, thereby boosting the lifetime value of each customer and enhancing overall security.

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.

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.

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

We are thrilled to announce that Keyless has been highlighted as a Luminary in decentralized biometric solutions in the 

2024 Biometric Digital Identity Financial Services Prism Report

, published by Acuity Market Intelligence under The Prism Project. This recognition underscores our growing role in advancing the field of biometric authentication within the financial services sector.

The Decentralized Model and ZKB Technology

Keyless is celebrated for its pioneering privacy-preserving technology within the financial services industry. Part of the emerging decentralized authentication category of biometrics (

 (ZKB) technology is at the core of our solutions, ensuring that no biometric data is stored anywhere - neither on the device or in the cloud - a unique achievement. This approach not only enhances user privacy but also ensures compliance with stringent regulations such as GDPR and PSD2.

Our approach to the decentralized model involves using a groundbreaking technique known as 

 (sMPC) which combines the benefits of the two existing methods - local and centralized biometrics. This method processes biometric data on the device, similar to local biometrics, but then transforms and stores it in the cloud, not as biometric data but in a format that doesn’t legally constitute ‘biometric’ data. This ensures that neither Keyless nor any cloud provider can access or decrypt the actual biometric data, combining privacy with cloud scalability and accessibility.

Case Study: Transforming Financial Services

The report highlights a case study in which Keyless has helped a national bank managing billions in assets and serving hundreds of thousands of customers address the inefficiencies and security risks associated with traditional SMS OTPs and customer support.

By implementing our biometric technology, the bank was able to significantly reduce its dependency on call center support through self-service biometric account recovery features, allowing users to independently recover their accounts with just a glance. Additionally, the improved user experience led to minimized disruptions and heightened transaction success rates, ultimately boosting customer satisfaction.

For high-risk transactions, the bank employed step-up authentication using facial biometrics, which not only eliminated the reliance on SMS OTPs but also significantly enhanced security. This shift resulted in a substantial decrease in annual password and account management costs, heightened protection against phishing and SIM swapping attacks, and notably, a decrease in account takeover fraud. 

Following on from our feature in their inaugural 

, Acuity Market Intelligence’s acknowledgement in their latest Prism Project report highlights our commitment to privacy-centered biometrics that do not compromise on the user experience. We are always striving to push the boundaries of industry, driving forward the implementation of the most innovative technologies for the financial services sector.

Keyless Recognized as Luminary in 2024 Prism Project Report on Biometric Digital Identity for Financial Services

We are delighted to share findings from Gartner’s recent 

Innovation Insight on Biometric Authentication

, published in December 2023, which examines the innovative landscape of biometric authentication technologies. This report underscores the critical role that Keyless and other decentralized biometrics vendors play in identity and access management frameworks.

How Keyless fits into the decentralized model

A central principle of decentralized systems is non-collusion, ensuring that parties involved in authentication act independently without sharing unnecessary information. No single party should be able to access a complete biometric template or any authentication samples, whether in use, stored, or during transit.

Keyless’ flagship Zero-Knowledge Biometrics™ (ZKB) technology uses the cryptographic technique known as secure Multi-Party Computation (sMPC) to split biometric data between our backend and the user’s device, which ensures no data is stored system-wide and prevents us from testing whether an image matches user profiles.

Comparison with traditional biometric authentication approaches

The Gartner report compares Keyless’ approach to local and centralized biometrics, highlighting that the decentralized model has the most well-rounded approach as it combines the benefits of both local and centralized biometrics.

Keyless: Privacy-Preserving Decentralized Biometrics

Gartner's endorsement of decentralized biometric techniques underscores the significance of these methods in identity and access management strategies, validating Keyless's strategic vision. Keyless goes beyond typical decentralized biometric storage by ensuring that no biometric data is stored at all, setting us apart from other vendors. Our commitment to privacy-preserving authentication that combines the benefits of existing systems without compromising on user privacy not only aligns with current technological trends but also sets a new standard for the future of digital identity protection.

We encourage industry leaders to delve into the 

 to better understand the technological advancements and strategic recommendations that will define the future of biometric authentication. For a more comprehensive overview, you are welcome to download the full report from our website or contact us directly for more information on how Keyless is leading the charge in secure, decentralized biometric authentication.

Gartner Names Keyless as a Leading Decentralized Biometrics Vendor in Latest Report

We’re excited to announce we’ve been featured in the newly published 

, the report offers invaluable insights into evolutionary trends in biometrics, strategic guidance for vendors, key differentiators for digital identity roadmaps, and an advanced market landscape reference model.

The report categorizes vendors into three distinct groups. Luminary vendors, like Keyless, represent the highest level of proficiency in their respective industry segments and are recognized as trendsetters and guiding lights in the field of biometric digital identity. 

In the report, Keyless is listed as a Biometric ID platform, as its technology enables companies to securely verify a user’s identity with their biometrics across different lifecycle stages – from onboarding to account recovery. 

The Prism report will evolve in tandem with the dynamic biometric digital identity landscape. The evaluations included in this report have been meticulously crafted through independent research, industry surveys, and consultations with vendors, researchers, and analysts.

Keyless Recognized in New Biometric Digital Identity Prism Report

We're thrilled to announce that Keyless has secured the prestigious '

' at this year's UK National Cyber Awards. 

The UK National Cyber Awards are a celebration of excellence and innovation in the cybersecurity field, bringing together leaders from across sectors. The event acknowledges outstanding contributions to the country's cybersecurity landscape.

This year's awards featured five categories, including the Prime Minister's Award for Cyber and The NHS Digital Award. With nominations pouring in, it's clear that cybersecurity's importance is on the rise.

Winning the ‘Innovation in Cyber Award’ reflects our dedication to advancing privacy-enhancing biometric authentication technology. In an age where data security and user privacy are paramount, our innovations have earned well-deserved recognition.

As the cybersecurity landscape evolves, we remain dedicated to providing cutting-edge solutions that empower organizations to protect their digital assets and user data. The recent win is a testament to our pivotal role in shaping the future of biometric security.

Keyless Wins 'Innovation in Cyber Award' at UK National Cyber Awards 2023

We're delighted to share that our pioneering work in privacy-enhancing passwordless biometric authentication has earned us significant recognition on the global stage, with yet another win and nomination during this year’s abundant awards season.

Here's a quick rundown of the new accolades that highlight our achievements.

, known for celebrating outstanding business accomplishments, have honored us with the prestigious ‘

This recognition highlights that privacy-enhancing solutions are setting new benchmarks in passwordless security, helping to defend businesses against account takeover fraud, phishing, and evolving credential-based threats. 

We're also excited to announce that we have been shortlisted for the ‘Innovation in Cyber Award’ at 

. The National Cyber Awards commend exceptional achievements in cyber innovation and digital security. 

The final winners of The National Cyber Awards will be revealed in September. Our nomination is a noteworthy achievement, and we're honored to be recognized alongside other top innovators who share our dedication to enhancing digital security.

Our Commitment to a Secure Digital Future

The recent industry nods come after multiple wins at the

. The awards are a testament to the dedication and hard work of our team, and are helping to further solidify our position as industry leaders in the passwordless authentication market.

Keyless Wins ‘Technical Innovation Award’, Shortlisted in National Cyber Awards

We’re excited to announce we have been mentioned for the third year in a row in Gartner’s Digital Identity Hype Cycle as a biometric authentication sample vendor, which according to Gartner analysts, are now entering the “Slope of Enlightenment" phase, meaning the benefits of how these technologies are becoming more widely understood.

gives decision makers a view of how a technology or application will evolve over time, providing insights into how to manage its deployment within the context of their specific business goals.

Growing interest in device-native biometrics, control over biometric modalities, and the demand for passwordless authentication have accelerated the adoption of biometric solutions. Additionally, identity verification and account recovery scenarios have contributed to the technology's widespread appeal.

As a biometric authentication vendor offering privacy-enhancing multi-factor authentication, our passwordless solutions offer numerous benefits, including improved user experience, heightened trust, and support for built-in multi-factor authentication.

Keyless offers numerous benefits compared to device-native biometrics, which are now widely used for authentication. These benefits include true multi-factor authentication, strong identity assurance and improved interoperability across devices and operating systems. As a third party vendor, our novel use of privacy-enhancing cryptography also enhances trust and compliance, enabling organizations to integrate biometrics without risk.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, HYPE CYCLE is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Keyless named in Gartner’s 2023 Digital Identity Hype Cycle 

We're proud to announce Keyless has taken home three separate awards in the 

We’re thrilled to be recognized in the 2023 Infosec Global Awards – winning one award is a huge achievement; winning three is a testament to our technology and the dedication and talent within our team. We hope these awards highlight the potential for emerging biometric solutions in helping to improve security, fight fraud and protect privacy,” 

said Andrea Carmignani, Co-Founder and CEO at Keyless. 

The Global InfoSec Awards honor global innovators in the cybersecurity industry who have a unique and compelling value proposition. The judges included CISSP, FMDHS, CEH, and certified security professionals, who voted based on their independent review of all nominees.

 world-first biometric authentication solutions

 that leverage privacy-enhancing cryptography to provide a secure, convenient, and privacy-focused way for users to authenticate their identity online. 

These winners are the most innovative, forward-thinking and proactive cyber security companies and service providers on the planet who are working to bring tomorrow’s cybersecurity solutions to market, today,

 said Gary S. Miliefsky, Publisher of Cyber Defense Magazine.

The complete list of this year's winners can be found here: 