Deepnet Technologies joins OATH, the initiative for Open AuTHentication.
London, March 8, 2006 - Deepnet Technologies has recently joined OATH, The Initiative for Open AuTHentication (OATH) - the industry's leading collaboration of device, platform and application companies, and end user customers of authentication technologies. OATH participants hope to foster use of strong authentication across networks, devices and applications. The Initiative for Open Authentication is aimed at providing a reference architecture for universal strong authentication across all users and all devices over all networks. Using open standards, OATH will offer more hardware and software choices, and lower cost of ownership, and allow customers to replace existing security systems whose complexity often leads to higher costs.
"Phishing, compromised user accounts, and the decline of consumer confidence in online services, are damaging online businesses and ecommerce. We want to endorse OATH, as we believe that it is vital that companies collaborate and use industry standards when developing the next generation of authentication technologies to combat fraud.” said Yurong Lin, CEO of Deepnet Technologies.
Deepnet Technologies has recently launched a suite of two-way and two-factor authentication solutions that are designed to overcome the weaknesses of password-only based systems. The Deepnet Authentication suite aims to provide reliable, flexible and low-cost solutions for banks, financial institutions and ecommerce websites, allowing their customers to use strong two-factor authentication to protect their online accounts.
The Deepnet Authentication suite consists of three different products: Mobile 2x2, Remote 2x2 and Smart 2x2. The products can be easily integrated into existing infrastructures or work as one-stop solution. All new products are two-way and two-factor i.e. it leverages something you know, such as a password, and something you have, such as an One-Time-Password token or computer fingerprint to validate customer’s credentials.
For additional information regarding Deepnet Technologies and the new suite of authentication technologies, please visit www.DeepnetSecurity.com.
To learn more about OATH visit www.openauthentication.org.
"Phishing has cost U.S. consumers $500 million, according to a study sponsored by Truste and NACHA. Three-quarters of wired Americans have noticed an increase in phishing incidents during the past few months, with one-third saying they've receiving e-mails sent under fraudulent pretenses at least once a week."
