Amrit Satpathy
Ecosystem Manager
NayaOne welcomes 1Kosmos, the company that unifies identity proofing and passwordless authentication to the NayaOne Marketplace.
The 1Kosmos platform verifies the identity of users as they log in, authenticate or transact into corporate networks, helping CISOs /CTOs/ CDOs regain control of IT services and revenue generating consumer digital services. The 1Kosmos solution is now accessible to a diverse range of financial institutions through NayaOne’s Digital Transformation Platform.
This combats data breach, ransomware and other attacks related to passwords that are weak and easily hacked or guessed, inadvertently disclosed in phishing / Business Email Compromise (BEC) attacks and stolen over public or home Wi-Fi. 1Kosmos solutions helps in providing biometric authentication and machine learning algorithms to provide more secure and convenient ways to authenticate users and prevent fraud in customer journeys.
1Kosmos solutions include:
- Passwordless Authentication: The passwordless authentication solution works by using biometric authentication to verify the identity of the user during login. During enrolment, the user’s biometric data, such as their facial scan or fingerprint, is captured and stored securely on their device or on a cloud server. When the user attempts to log in, they are prompted to verify their identity using their biometric data. 1Kosmos BlockID then compares the biometric data to the stored data to verify the user’s identity. This process eliminates the need for passwords and provides a more secure and convenient way to authenticate users as per the industry benchmark.
- Identity Verification: ID verification solution uses a combination of biometric authentication, government-issued IDs, and other data sources to verify the identity of customers, employees and citizens. The self-service process typically involves capturing the customer’s biometric data, such as a “live selfie”, facial scan or fingerprint capture and comparing it to their government-issued ID. The solution may also use other data sources, such as credit reports or social media profiles, to further verify the enrolled user’s identity. The solution can be integrated into the financial institution’s onboarding or account opening process to ensure that only verified customers are granted access to the services.
- Fraud Prevention: The fraud prevention solution replaces antiquated two factor authentication with a modern, low-friction, identity-backed approach to multi-factor authentication. On step up, users perform strong customer authentication using their biometric and a portable, private, reusable digital wallet using a FIDO2 cryptographic public-private key pair. This capability can be delivered via the white labelled 1Kosmos app or embedded into existing apps via SDK/API.
- Compliance: Compliance solution automates the compliance process by verifying the identity of customers and ensuring that the financial institution is following all the necessary regulations. The solution typically involves capturing the customer’s biometric data and comparing it to their government-issued ID to verify their identity. The solution can also check various watchlists and databases to ensure that the customer is not on any regulatory or compliance lists.
1Kosmos supports NayaOne’s commitment to enable digital transformation in the financial services industry by bringing banks and fintechs together for innovation. The platform's advanced features and capabilities have enabled us to showcase our innovative cybersecurity solutions to a wider audience and connect with new customers in a more streamlined and efficient manner. We are excited to continue our partnership to support financial institutions through the NayaOne Digital Transformation Platform.
Michael Cichon
Chief Marketing Officer, 1Kosmos
Welcome 1Kosmos to the NayaOne Marketplace. Their innovative solutions in the cybersecurity and identity verification space are a good fit for our digital transformation platform and financial institutions. We look forward to supporting 1Kosmos in their growth and expansion, and to continue bringing value to our customers through our collaboration.
Oli Platt
Product and Marketplace Manager, NayaOne
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 largest banks, telecommunications and healthcare organisations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in East Brunswick, New Jersey.
