Reliable authentication protocols are vital for every organization when verifying its users. The traditional password system is often compromised, copied, shared, exposing data to threats and other security risks. Having advanced authentication solutions can be an alternative to the outdated password system. Biometric authentication, smartcards, and tokens are some examples of popular options in replacing passwords.
Today, organizations are becoming more dependent on electronic data and computer networks for their daily operations. Global internet users have also been rising throughout the years. With that, a growing number of financial and personal information is stored and transferred through online platforms. The trend to use online services such as e-commerce in online transactions has led to a greater need for advanced authentication solutions to ensure e-commerce fraud prevention.
Mobile technology adoption is another factor driving the market growth in advanced authentication solutions. Today, over 5.27 billion people worldwide are mobile phone users. With that, enterprises should consider how employees, business partners, and other stakeholders can access their platforms on any device in any location.
There are many market players in the authentication industry. Some examples of authentication solution providers are Login ID, Magic.Link, Auth0 and Passbase, among many others.
Login ID, a leader in biometric authentication solutions, is FIDO2 certified to provide authentication solutions and services such as SaaS-based passwordless authentication. It also offers digital onboarding, digital identity verification in partnership with AuthID, and PSD2 Strong Customer Authentication solutions.
Meanwhile, Magic.Link, located in the US, enables passwordless login integrated into existing applications through a developer SDK. Their authentication methods include email magic links, SMS, FIDO2 WebAuthn, and social login. They will also be launching a multi-factor authentication (MFA) platform soon.
Auth0 specializes in providing WebAuthn-based biometrics, email, SMS, and magic link logins as alternative options to passwords. Auth0 also enable MFA and SSO login options. However, Auth0’s solutions can seem expensive depending on a business’s requirements. Its authentication platform can be deployed as a native or mobile app, web app, single-page app, or integrated using an API.
Meanwhile, Germany-based authentication provider Passbase offers various identity solutions such as identity verification through biometric matching of a selfie to identify documents, age verification, and address verification. Passbase also implements active liveness detection in ensuring a user’s real-time presence during the verification process.
For more details about Login ID competitor analysis, visit Login ID through their official website.