HYPR Corp. Launches Industry First Biometric Tokenization Platform

NEW YORK, July 21, 2015 /PRNewswire/ -- Passwords have proven futile for securing mission critical systems, as seen in the recent U.S. Office of Personnel Management breach. Biometric authentication provides enterprises a solution to the infosec conundrum, but developers and end-users are concerned about how customer data is stored. To address this dilemma, Biometrics-as-a-Service provider HYPR Corp. announced today the general availability of its Biometric Tokenization SDK for third party integration.

A video overview and demonstration of the HYPR SDK is available here: https://youtu.be/gFJj0-Rag-I  

The HYPR SDK enables enterprises to seamlessly implement biometric authentication in any application. Users may leverage biometric devices, such as phones and tablets, to authenticate with fingerprint, facial or voice recognition. It includes mobile and desktop client libraries, as well as server side software, to enable biometric tokenization. Unlike other biometric security protocols, the HYPR platform allows users to authenticate actions without ever transmitting biometric data across the Internet. Rather than storing user data on a centralized server, with HYPR that data is kept securely offline.

• Works with existing infrastructure: The HYPR SDK is an "add-on" piece of software. Instead of replacing a company's authentication scheme, HYPR simply adds biometric authentication compatibility to an existing infrastructure.
• Replaces insecure passwords: The HYPR platform enables companies and their users to leverage modern-day biometric sensors on trusted consumer devices to replace password-based entry without having to worry about storing user credentials. The biometric tokenization protocol supplied by HYPR eliminates the risk of storing biometric data online.
• Maximizes security and compliance: HYPR tokenizes biometric data and marries the convenience of a mobile biometric device with the security of advanced public key cryptography. User data never leaves the device, but authentication still takes place on the server side.
• Enables a Bring-Your-Own-Biometrics environment: HYPR is device agnostic and gives enterprise customers full control of how biometric authentication is used by their partners, employees, and customers. A bank might want to only use fingerprint readers on certain devices, but not facial recognition, for instance.

George Avetisov, CEO of HYPR Corp. said:
"When we started building the HYPR platform, there was one mobile device on the market with a fingerprint reader. By the end of 2016, analysts project over a billion biometric-enabled devices will be in Internet users' hands. We're ensuring that companies are utilizing those biometric devices the right way, and that user data is kept safe.

The HYPR SDK is currently in deployment across a number of banks, which are implementing biometric security solutions for use cases ranging from internal employee authentication to their consumer-facing mobile apps. Mobile wallets and even Bitcoin platforms also are integrating HYPR to prevent payment fraud across their user base. We've also been working with IoT developers, healthcare providers and even streaming content platforms to deploy biometric authentication and eliminate account sharing." 

Kyle Prigmore, Analyst, Enterprise Strategy Group:
"The proliferation of the Internet of Things has created a world of new security concerns that enterprises are largely unequipped for and are continually scrambling to address. An emerging priority for organizations is to move beyond simple password-based protocols and implement a new generation of authentication processes-namely through biometric technologies. HYPR Corp. provides a robust biometric solution that is sector-agnostic and scalable for the ever-growing IoT."

Jonathan Silverman, Director of Strategic Initiatives, Bitgo said:
"Biometric authentication is key to creating a future without passwords. Our online identities across financial services and Bitcoin-based technologies rely on secure authentication - which passwords simply don't provide. Combining strong encryption with biometrics is a powerful way of tackling the password problem. I can't wait for the relief."

About HYPR                                                                                                                   
HYPR is a sector agnostic platform enabling secure biometric authentication. From software developers to enterprises and device manufacturers, we're replacing the use of passwords with advanced biometric cryptography. As an end-to-end solution, HYPR is the fundamental framework for securing the Internet-of-Things. Additional information is available at: https://www.hypr.com/

PR Contact:
Jessica M. Pasko
Nadel Phelan, Inc.
+1 831-440-2412
jessica@nadelphelan.com

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SOURCE HYPR Corp.