![]() BindID also features the ability to use one’s mobile device to securely authenticate to other devices and channels that may not have an embedded biometric reader, all while requiring no customer software downloads or dedicated hardware in itself. The service allows for users to authenticate and access their accounts using embedded biometric scanners in their devices, such as through a fingerprint or face recognition. Last month, cybersecurity and digital identity company Transmit Security announced the release of BindID, a passwordless authentication service. Or perhaps you rely on a password manager, but are plagued with the knowledge that if you lose access to it, you would lose access to almost every account you have. The fact that we have raised a record amount of funding is a clear indication that the world is ready to eliminate passwords and embrace biometric authentication technology so that they can deliver enhanced user experiences combined with significantly heightened levels of security.Chances are you’ve forgotten a password at least once in your life and had to reset your account credentials as a result. “Transmit Security is offering application owners a new reality: The ability to go passwordless no matter the size of their organization or number of users. We’ve all learned to suffer and accept the terrible user experience and poor security that comes with passwords just because that’s the way it has always worked in the past,” said Rakesh Loonkar, president and co-founder, Transmit Security. Whenever an app texts me a code that I have to enter, I become frustrated with the process. “Every time I see a login button on a website, I get anxious. ![]() With this latest round of funding from premier partners, we can significantly expand our reach to help rid the world of passwords.” “Our customers, whether they are in the retail, banking, financial, telecommunications or automotive sectors, understand that providing an optimised identity experience is a multimillion dollar challenge. By eliminating passwords, businesses can immediately reduce churn and cart abandonment and provide superior security for personal data,” said Transmit Security CEO and co-founder Mickey Boodaei. “Passwordless authentication is so much more than ensuring customers can easily and seamlessly access their information, their accounts and make purchases – it’s about revolutionising the way companies interact with their customers. Using biometric authentication, Transmit Security offers a natively passwordless identity and risk management solution.
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