Launching HYPR Adapt; TEI Study Determining 324% Customer ROI
HYPR Press Releases
4 Min. Read | July 26, 2023
NEW YORK, NY – July 26, 2023 — HYPR, the Passwordless Company®, today announces HYPR Adapt, which is the latest product in its expanding modern authentication security portfolio. HYPR Adapt provides risk-based, adaptive authentication so organizations can effectively manage identity-related risks and reduce user friction, even in rapidly changing security environments. Its powerful risk engine analyzes risk signals from numerous sources, including contextual information from mobile, web, and browser signals, and dynamically adjusts authentication security policies in response. HYPR Adapt is unique in delivering stringent security controls, with coverage from the endpoint to the cloud, while minimizing friction based on individual risk profiles.
HYPR also announced the results from a commissioned independent study conducted by Forrester Consulting which analyzed customer data and showed that customers using HYPR Authenticate, HYPR’s passkey-based passwordless MFA solution, realized an ROI of 324% with $8.1M total cost benefits realized, and a payback period of less than six months.
“Today’s announcements highlight both HYPR’s commitment to security innovation and the significant business benefits that our existing customers have received. With more than 60% of organizations reporting an identity-related authentication breach in the last 12 months, securing digital identities is one of the highest priorities for organizations,” said Bojan Simic, CEO and CTO of HYPR. “We are committed to proactively securing identities across the entire user experience without compromising on productivity and agility. Forrester’s independent Total Economic Impact™ (TEI) study of HYPR Authenticate, HYPR’s passwordless MFA solution, clearly demonstrates the strong business value that customers achieve.”
“Hackers, emboldened by AI, are ready and able to exploit any security coverage gap such as the ones created by traditional identity providers.” said Anthony Belfiore, Chief Security Officer at Wiz and previously CISO at JPMorgan Chase. “It is exciting to see the approach HYPR is taking with HYPR Adapt providing data from mobile, endpoint, and browser sources for true end-to-end visibility and comprehensive authentication and identity threat protection.”
Reinforcing HYPR’s commitment to breaking down silos for holistic security, HYPR Adapt risk engine is launching with four critical capabilities: comprehensive, dynamic, risk-based security; real-time fully configurable adaptive controls; easy integration with existing security systems; and enhanced fraud prevention:
Comprehensive, Dynamic, Risk-Based Security: Continually assess and address risk. HYPR Adapt’s powerful risk engine analyzes intelligence from multiple sources and includes device posture, contextual information from mobile, web, and browser signals, real-time events and user behavior. Adapt leverages this intelligence to generate granular, individualized risk profiles and adjusts authentication controls in response to real-time risk assessments.
Real-Time, Fully Configurable Adaptive Controls: Automatically manage user actions and security posture in real-time. HYPR Adapt immediately responds to potential risks or anomalies, dynamically adjusting authentication controls and applying appropriate adaptive measures.
Integrate Authentication Risk Signals With Security Ecosystem: Maximize the value of your existing security systems. HYPR Adapt integrates with external systems through an extensible framework, allowing for a seamless, mutual exchange of authentication risk information.
Enhanced Fraud Prevention Capabilities: Effectively combat identity fraud. HYPR Adapt applies sophisticated analysis tools to contextual information, real-time events, and user behavior to detect and prevent fraudulent authentication attempts. The result is substantial reductions in financial losses, bolstered customer trust, and the preservation of transaction integrity.
In addition to delivering the latest technology innovations to protect organizations against emerging security risks, HYPR protects customers’ technology investments by delivering proven, quantifiable business value and confidence about their purchase decision.
Findings from the recently published Forrester Consulting Total Economic Impact (TEI) study are based on data derived from Forrester’s extensive (and anonymous) interviews with current HYPR customer organizations using HYPR Authenticate which were combined to form a single composite organization. Forrester’s independent analysis shows that over three years, HYPR customers experienced 324% ROI with a payback period of less than 6 months. Additional results from the Forrester TEI study show that HYPR customers realized:
- $8.1M total cost benefits realized over a three-year period and based on the study’s composite organization
- 80% elimination of passwords and associated vulnerabilities
- $3.3M savings through business risk avoidance
- 95% reduction in password reset helpdesk tickets
- Over $3M avoidance of help desk support costs
- $3.2M end-user productivity savings
- 55% reduction in time to onboard employees
To read more about the findings from the Forrester TEI Study on HYPR visit https://www.hypr.com/resources/report-forrester-tei-of-hypr
HYPR fixes the way the world logs in. HYPR Authenticate and HYPR Adapt provide the strongest authentication protection with end-to-end, adaptive security risk assurance and an intuitive, simple experience. HYPR can be deployed in days rather than months with a third-party validated ROI of 324%. Additional information is available at https://www.hypr.com.