Passwordless MFA: Fixing the Way the World Logs In
Bojan Simic, CEO, HYPR
2 Min. Read | March 15, 2022
Our digital data is the lifeblood of our modern world — all of our corporate and personal lives, how we transact business, and how we connect and care for one another. And yet we find all aspects of these digital lives becoming harder to access, and more difficult to protect. The scale of the problem is astronomical and growing: In 1996, 16M people were on the Internet. Today, more than 4.5B people (more than 65% of the world’s population) are logged on and accessing 210 Zettabytes of information. We’re securing this — all of our digital lives — with a concept that was outdated during the Roman Empire: passwords.
The impacts of this are real and they are more than monetary. 2021 saw an average total cost of $4.37 million due to compromised credentials. Cyberattacks cost lives as healthcare systems shut down during a global pandemic. Nation-state attacks that originated from weak credentials fundamentally impacted national security.
Few are happy with the current state of authentication. Companies aren’t happy with their level of security. Users and customers aren’t happy with the inconvenience and complexity. IT teams aren’t happy with keeping these dysfunctional systems running. Yet, despite broad consensus that the existing approach is broken, the status quo reigns. HYPR intends to fix this.
Toward a Passwordless World
We are committed to fundamentally fixing the way the world logs in and shattering the false tradeoff between uncompromising assurance and consumer-grade experience..
HYPR firmly believes that both are possible. We are helping all organizations to provide secure but untrammeled access by:
- Making authentication so easy that users and customers don’t know it’s happening, delighting users and enabling security teams to become heroes within their organization.
- Unifying authentication with fast, seamless login from the desktop to the cloud.
- Eliminating the weakest link in the chain by providing secure authentication that virtually eradicates automated credential attacks and account takeover. We remain committed to always having the user in control of the authentication experience, eliminating push attacks.
- Expanding strong security from business users to consumers to the Internet of Things, eliminating frustration across the chain.
- Leading the community of innovators who want to create a safer, more accessible world by advancing the development and use of open standards to create a system that is available to all and not confined to one company.
Our guiding vision is to make passwords a thing of the past by 2030, with HYPR the preferred way to easily and securely access the internet.
Bojan Simic is the Chief Executive Officer & Co-Founder of HYPR. Bojan's vision for the elimination of shared secrets and his experience in authentication & cryptography serves as the underlying foundation for HYPR technology and company strategy. Previously, he served as an information security consultant for Fortune 500 enterprises in the financial and insurance verticals conducting security architecture reviews, threat modeling, and penetration testing. Bojan has a passion for deploying applied cryptography implementations across security-critical software in both the public and private sectors. Bojan also serves as HYPR’s delegate to the FIDO Alliance board of directors, empowering the alliance’s mission to rid the world of passwords.