Denver CO, Mar 30th, 2022. Vault Vision, a leading technology provider of identity and authentication management solutions announced a partnership with OpenID Foundation and the FIDO alliance. Vault Vision’s new partnerships come at a time where 40 percent of American users have had their online data compromised, according to Google. The shift away from password-based authentication is accelerating with the total market for expected to reach $53.6 billion by 2030, a staggering increase from $15.6 billion in 2022, according to Statista.
Businesses that employ passwordless authentication save an average cost of a password breach of $1.76 million less at organizations than those without zero trust authentication systems, according to IBM. The rise of remote work (due to COVID-19) and a secular growth in technology adoption is the reason why Vault Vision enables startups and IT admins to easily secure their applications and customer logins, powered by our industry-leading passwordless ‘login as a service’ technology, and conformant by open standard security alliances like Open ID Foundation and FIDO alliance.
Because user authentication is such a pervasive and complex problem, it requires the entire industry to work together and design the next generation of authentication solutions. Vault Vision is excited to be a part of these ground breaking industry alliances and committed to developing open standards for strong authentication. The tools and standards that industry working groups like OpenID Foundation and FIDO alliance provide ensure that companies working on different pieces of the user authentication puzzle, provide greater interoperability and compatibility for the entire security ecosystem. This partnership towards open standards makes it possible to have the widest range of compatible devices and services that ultimately give the consumer and end users the best security and user experience for their authentication needs.
Vault Vision’s authentication platform is enabling technology startups to easily build and manage their security and login infrastructure, giving founders time to focus on their business. “Vault Vision’s platform is built for an easy integration and a great example of how technology startups can build authentication and identity management into their software in minutes,” said Neil Proctor, CEO and Co-Founder, Vault Vision. “Our partnership with OpenID Foundation and FIDO’s strong authentication will give confidence to any customer of Vault Vision that they are utilizing the highest standard for strong authentication.”
To further enable security for startups and easily get started with authentication technology, Vault Vision offers a free plan and the ability to scale up with custom services in an enterprise plan for larger businesses and user base.
About Vault Vision
Vault Vision’s cloud based login-as-a-service solution adds additional layer of security with WebAuthn and FIDO based authentication with support for software and hardware based key vaults. Vault Vision’s platform offers advanced recovery options utilizing biometrics that can’t be forgotten or forged. A platform built by technology and security industry veterans, Vault Vision’s founding team is former executives and engineers from SaaS technology brands such as GoDaddy and Acronis. With decades of experience building software solutions, Vault Vision’s authentication platform for IT professionals by IT professionals.