Thales, a leading global technology and security provider, has expanded its collaboration with SoyYo, a digital identity provider for companies in Colombia.
They are introducing FIDO2 passkeys for passwordless authentication. This will enable millions of Colombians to connect with their digital identities and access digital services without typing any usernames and passwords.
Passwords have long been the weakest link for consumers accessing online services securely. Now with passkey, user identity is verified using biometrics or a device code, allowing users to log in quickly and securely. Each passkey has a pair of keys; one remains stored in an encrypted format on the device, ensuring safety during data breaches. For businesses offering digital services, passkeys offer benefits such as improved login success rates, reduced login times, enhanced security and decreased operating costs. In this collaboration, the creation of the passkey follows an identity verification, which allows a user-centric, reusable SoyYo passkey for the verified user.
Danny de Vreeze, Vice President for Identity and Access Management at Thales, said: “Passwords have been the fatal flaw in digital authentication for decades, but with the introduction of passkeys we are finally on the brink of a passwordless future. We are confident that passkeys will become the dominant authentication method, not only to secure access to services and platforms, but also to authorize any sensitive operations. We are proud to offer passkeys to all our customers, including those in regulated industries. We are pleased to support SoyYo, an agile fintech, playing a crucial role as an identity provider, with a smooth migration to a modern, future-proof solution.”
SoyYo aids businesses in safeguarding their users’ digital identity and ensuring data security online. For the past three years, it has trusted Thales by using its cloud-based identity platform for safe digital onboarding of customers through document verification and identity proofing, and also for accessing their mobile app. With the passkeys’ introduction, it can now use the same platform to offer passwordless authentication to end-users, enhancing the customer experience further.
“Passkeys will help us strike that necessary balance between user experience and security, bringing authentication that is both familiar to users and phishing-resistant. We are pleased to be able to leverage an adaptable solution like the Gemalto IdCloud to power this offering, along with the full scope of our identity proofing and authentication needs. We have been partnering with Thales for a long time and look forward to continuing the collaboration to better serve our customers with solutions focused on usability, security and global compliance,” shared Santiago Aldana, CEO at SoyYo.