Mumbai (Maharashtra) [India], July 28 (ANI/PNN): 1Kosmos, the only company that unifies identity proofing and passwordless authentication, today announced it has been named 'Best Consumer Digital Banking Solutions Provider' in the 2022 Banking Tech Awards.
The company won three Global InfoSec Awards at RSA Conference 2022, including 'Best Product ID Verification, Most Comprehensive Multi-Factor Authentication and Cutting Edge Passwordless Authentication.'
The Banking Tech Awards recognised 1Kosmos BlockID as a digital channels solution that facilitates meaningful change to how a bank operates, builds products, and delivers services, bringing clear and measurable improvements to the organisation and customer experience.
"1Kosmos being named the Best Consumer Digital Banking Solutions Provider illustrates the importance of identity verification, not just authentication, in online banking today," said Hemen Vimadalal, CEO of 1Kosmos. "The ability of BlockID to perform identity verification instead of just relying on an authentication method like a username/password or one-time password enables financial institutions to offer advanced services because they can prevent account compromise and fraud."
According to a recent report, India's data centers captured over 51 million cyber-attacks over their networks from April -December 2021. Commenting on mitigating the future of such attacks on real networks, Hemen said, "Now, more than ever, identity has become the security perimeter, especially in the cloud. 1Kosmos eliminates the security gap that attackers most commonly exploit, the disconnect between verified identity and authentication, to make secure passwordless access possible."
Siddharth Gandhi, COO of APAC, said, "We have recently gone live with Sim binding along with next-gen MFA for a large Indian bank, and now with these recognitions, we reaffirmed our offerings and presence in the BFSI. These are an exciting time for 1Kosmos in India!"
1Kosmos also received three awards from Cyber Defense Magazine, the industry's leading electronic information security magazine, for Best Product ID Verification, Most Comprehensive Multi-Factor Authentication, and Cutting Edge Passwordless Authentication. Winners were selected by a panel of security professionals who conducted an independent review of each submission.
1Kosmos BlockID is live biometrics driven and provides passwordless access via a distributed digital identity platform. It helps financial institutions and organisations establish the identity of individuals accessing their systems, applications, and data while supporting secure passwordless access to accounts. BlockID also provides bank employees and organisations with secure, automated onboarding, self-service identity proofing, and passwordless access to various resources like corporate applications and data.
1Kosmos enables passwordless access for workers, customers, and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover, and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the world's largest banks, telecommunications, and healthcare organisations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures, with headquarters in Somerset, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn.
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