Vidoop’s New Technology Provides Customer-Friendly Strong Authentication

 

Financial Institutions Can Generate Revenue from Secure Online Logins
 
New York, Oct. 14, 2008 – Portland, Ore.-based Vidoop, a provider of identity and authentication solutions to financial institutions and consumers, announced today at Finovate 2008 the company’s new suite of multi-factor online authentication technologies for financial institutions, healthcare organizations and corporations. These revenue producing, strong authentication services provide users with greater login security and easier access.

Vidoop provides financial institutions with up to three options for providing strong authentication for accessing Web sites. Vidoop’s ’ImageShield’ replaces the traditional password field with an array of photos that are different with every login. When the ImageShield is presented, the consumer selects the images that fit pre-selected secret categories.

The user can also be contacted by up to two off-line authentication methods. Financial Institutions can elect to have one-time passwords sent to a user’s cell phone or to have a confirmation by voice phone for a quick and easy two-factor authentication.

“A recent survey found that 61 percent of Internet users are reluctant to log in and conduct transactions due to security concerns,” said Mitchell Savage, executive vice president of Business Development for Vidoop.  “In addition to Vidoop’s image-based authentication we now offer two offline methods that deliver a more secure login process through an item all users already have easy access to – their phone.”

Vidoop also presents the opportunity to provide this strong authentication to financial institutions at lower costs than traditional authentication services, and it can even generate revenue. The ImageShield provides advertisers the opportunity to sponsor images within certain categories. Customers who choose to enable advertising-supported logins can obtain Vidoop’s increased security at little or no cost, and in some cases, generate revenue through the sponsored images.

“Not only can financial institutions potentially make money using Vidoop, but they can also realize substantial savings through customer service,” Savage said. “The number one call to most customer support centers is login issues. Vidoop provides an easier way for users to remember passwords with images, and now we have two additional ways they can authenticate without requiring expensive call center support.”
 
About Vidoop
Portland, Ore.-based Vidoop provides financial institutions with enterprise-level, multi-factor authentication without the use of tokens or hardware or incurring call center costs.  With Vidoop’s business solutions, identity and online security for customers can save money, reduce risk of online identity thefts, strengthen account holder relationships and generate revenue. 

The company, which employs experienced developers from Microsoft®, the U.S. Naval Research Laboratory and the National Institute of Standards and Technology as well as the banking and healthcare industries, also provides consumers with free password management. For more information, visit http://www.vidoop.com .

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