Credentials are the most popular targets of hackers, who are only growing more sophisticated in their ability to automate attacks that bypass traditional forms of multi-factor authentication. Organizations are stuck between having their security teams add increasing complexity in a race to protect credentials and a user experience getting progressively cumbersome.
Hitachi ID has partnered with HYPR to deliver a passwordless future with Bravura OneAuth. The joint solution allows organizations to bridge the gap between comprehensive security and a way for employees to connect to the resources they need.
According to IBM’s Cost of a Data Breach Report 2022, compromised credentials cost an average of $4.5 million per breach, and is the most frequent vector, accounting for 19% of breaches. What’s more, a whopping 80% of financial services organizations have experienced a breach that was likely related to authentication weakness, according to a HYPR’s study. With Bravura OneAuth, employees never have to remember passwords again.
“Leveraging HYPR’s industry-leading expertise to power Bravura OneAuth has allowed us to immediately protect organizations from phishing and account takeovers,” said Nicholas Brown, CEO at Hitachi ID Systems, Inc. “This solution empowers users to have the frictionless experience they’ve been craving, without sacrificing the protection that security leaders want to deliver to their organizations.”
According to a Hitachi ID study, nearly half of IT, security, and cybersecurity leaders still store passwords in shared office documents. Bravura OneAuth eliminates that organizational risk by never requiring a user to remember passwords again, and provides security to traditional MFA solutions, which aren’t working. According to HYPR’s study, 89% of organizations believe passwordless authentication provides a superior user experience and the highest level of authentication security.
“Passwordless authentication is proving essential due to its unmatched security and simple user experience,” said Bojan Simic, CEO and CTO at HYPR, in a statement. “Through this partnership, all of Hitachi ID’s enterprise customers will have access to HYPR’s solution suite, and can rest easy knowing that both protection and productivity will skyrocket.”
Customers can enjoy a lower total cost of ownership (TCO) of authentication deployment and administration with Bravura OneAuth. HYPR customers have experienced 35% fewer help desk calls and saved as much as $2.4 million in incident response costs.
“Managing security services for hundreds of customers means we deal with thousands of identities and managing those credentials is tedious,” said Jim Skidmore, VP of the Solutions Group at intiGrow. “Hitachi ID’s partnership with HYPR has elevated the Bravura Security Fabric, so we can easily meet compliance standards and seamlessly authenticate our customers.”