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New Mobile Number Verification from tyntec Boosts Effective Security of Two-Factor Authentication - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

New Mobile Number Verification from tyntec Boosts Effective Security of Two-Factor Authentication

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SOURCE tyntec GmbH

Solution strengthens data security, performs real-time validity of mobile numbers & ensures accurate delivery of One-Time Passwords

SAN FRANCISCO, June 26, 2014 /PRNewswire/ --

    

tyntec, a mobile interaction specialist, introduced a new product, OTP SMS, to further enhance SMS-based two-factor authentication (2FA). OTP SMS effectively pre-verifies mobile numbers for accurate, efficient delivery of One-Time Passwords (OTPs) and reports potential errors in real-time. The responsive reporting feature indicates if a mobile phone number has technical difficulties, is "on" or if the correct mobile number needed for authentication has been entered by the end-user-allowing for an upfront notification to be sent to the end-user to correct the mobile number, then activating the delivery of the SMS to the corrected mobile number for authentication completion.

"Two-factor authentication is becoming the go-to standard for organizations to reinforce online security because of its low-cost component and easy end-to-end integration. Consumers feel vulnerable in the wake of mega-breaches, like Heartbleed and they want better security from companies storing their private data," said Thorsten Trapp, Co-Founder and CTO of tyntec. "SMS-based 2FA is powerful, but its potency is curbed by invalid mobile numbers. Pre-verifying mobile numbers before transmitting an SMS and having the agility to react to real-time verification, or failure, has enormous potential- it's the kind of intelligence that companies find invaluable because it boosts their bottom line, improves conversion rates and makes customers happy and secure; everybody wins."

Successful 2FA relies on accurate OTP delivery  

SMS-based 2FA is attractive: it's cost-effective, user-friendly, brings an extra layer of security and integrates easily into existing systems. Accurate delivery of OTPs accentuates SMS-based 2FA, and carries the benefits of being session-based and time-restricted. Data security expert, Ponemon Institute conducted a survey reporting 29% of respondents cite an average 11-20% OTPs fail to be delivered, usually because an invalid mobile number was entered by the end-user.  The consequents are clear: un-met expectations result in lower rate of activations and dissatisfied end-users.

Larry Ponemon, Chairman and Founder of the Ponemon Institute, added: "Enterprises and internet companies know that the traditional username and password is simply not enough anymore. However, companies deploying SMS-enabled two-factor authentication need to ensure that One-Time Passwords are being sent to valid mobile numbers. As a result, the research confirmed that 72% of respondents said customer experience improves when SMS-enabled two-factor authentication is combined with real-time verification of the receiver's mobile number."

Security, visibility and easy integration 

The benefits of OTP SMS are apparent to both consumers (recipients) and organizations (senders):

  • Increased online security:  Beyond accurate delivery of OTPs, the solution enhances the already secure, cost-efficient and user-friendly, SMS-based 2FA process by ensuring that accounts are being accessed by authentic users. The extra layer of authentication verifies end-user identity and transports a sense of security and trust to the consumer.
  • Improved customer experience and conversion rates: With OTP SMS, businesses can identify invalid mobile numbers in real-time before sending the SMS message and consequentially increase conversion rates or the success of their transactions. Responsive reporting, provided by tyntec's carrier-grade infrastructure, includes error codes indicating incorrect mobile numbers or if the mobile phone is shut off. Once the error has been corrected or mobile is on, the end-user can be verified and move on to conclude the transaction.
  • Improved accuracy, more than just security:  tyntec's verification solutions like OTP SMS provide customizable network information directly from the GSM network. In addition to enhancing the authentication process, OTP SMS includes the enrichment of real-time subscriber information to improve other processes including, subscriber database cleaning, compiling statistical data and implementing anti-fraud procedures.

About tyntec
tyntec (http://www.tyntec.com) is a mobile interaction specialist, enabling businesses to integrate mobile telecom services for a wide range of uses - from enterprise mission-critical applications to internet services. The company reduces the complexity involved in accessing the closed and complex telecoms world by providing a high quality, easy-to-integrate and global offering using universal services such as SMS, voice and numbers.

Founded in 2002, and with more than 150 staff in six offices around the globe, tyntec works with 500+ businesses including mobile service providers, enterprises and internet companies.

Press contact tyntec
Tyntec
Caroline Dreier
+49-89-202- 451-140
press@tyntec.com

Press contact PR agencies
Barokas Public Relations
Bailey Fox
+1-206-264-8220
tyntec@barokas.com


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