In this new article series our Research Team introduces promising, young Startups based in Europe, which are already successful in the German market or will conquer it in near future. If you are interested in this series of articles, you can keep up to date on our LinkedIn Account.
RG: Briefly describe what is your company doing?
Keyless: We’re building passwordless authentication and identity management solutions that leverage advancements in privacy-enhancing technology and multi-modal biometrics. We’ve currently launched a number of passwordless authentication solutions for workforce and consumer use-cases.
Our passwordless solutions are helping our clients enhance security and improve customer experiences, while also guaranteeing strong compliance with cross-jurisdictional data-privacy laws.
RG: Where is the benefit for the customers; what’s your USP in comparison to competitors?
Keyless: The main difference between Keyless and our competitors is how we store and process private authentication data. At Keyless, we leverage privacy-enhancing technology to securely processes encrypted pieces of authentication data on a distributed cloud infrastructure, rather than in a centralized location or on a user’s device.
Our proprietary method for collecting, processing and storing authentication data significantly reduces the likelihood of security breaches, while also enabling more user-friendly authentication. For example, with Keyless a user has more control over their identity as their authentication data is not linked to their device. This means that they can manage their identity across multiple devices and enable secure, easy backup and recovery options. This is something that our competitors can’t offer their users.
RG: Is the German market relevant for you? If yes, how would you approach German market?
Keyless: The high instance of data breaches caused by compromised passwords and poor security practices has led to drastic legislative changes in Europe to how companies manage personal data and authenticate their customers. Thus, in Germany, as with the rest of Europe, there’s now an enormous demand for privacy-first solutions that offer strong security, without disrupting the user experience. The good news is that advancements in tech are allowing for fast, simple and secure passwordless authentication. Our approach will be educating clients here on the technology as well as the benefits of our passwordless solutions, which are optimized user-experience, enhanced privacy compliance and strong multi-factor security.