6 June 2017
INTERCEDE GROUP plc
("Intercede", or the "Group")
Launch of MyIDaaS
Intercede, the leading specialist in digital identity, credential management and secure mobility, is pleased to announce the launch of MyID as a service (MyIDaaS), a cloud-based variant of the Group's successful MyID software.
The launch of MyIDaaS reflects Intercede's recognition that all enterprises are facing increasing demands for higher levels of security. Regulators across the world are establishing rules to ensure that security not only catches up with internet development but seeks to "future proof" interconnectivity from emerging threats.
For example in the US, President Trump's Executive Order on Cybersecurity requires public and private providers of critical infrastructure and digital services to ensure that the highest recommended standards for cybersecurity are applied universally. This is manifest in New York State 23 NYCRR 500 Cybersecurity Requirements for Financial Services Companies and NIST Special Publication 800-171 for government contractors mandating multi-factor authentication to ensure enhanced levels of identity assurance.
In Europe, the Second Payment Services Directive (PSD2), the General Data Protection Regulations (GDPR) and the Markets in Financial Instruments and Derivatives (MiFID II) Directive all mandate enhanced levels of digital trust enabled by strong customer authentication. These international regulatory frameworks create a large global market for password replacement technologies which MyIDaaS has been specifically designed to satisfy. By adhering to the most stringent of regulations all companies, regardless of sector and size, can meet their compliance obligations quickly and with ease.
The latest solution from Intercede has been created by envisioning and reengineering the Company's existing MyID solution to operate as a secure, self-service, multi-tenanted Cloud service. It is designed to enable organisations to replace employee passwords with more secure and convenient digital identities on real or virtual smart cards, pluggable tokens, mobile devices and embedded security modules. The solution manages the lifecycle of credentials, for example revoking them if a user leaves an organisation or updating them in advance of the credentials expiring.
Businesses using the service will be provided with a dedicated certification authority and the ability to deploy digital identities on to hardware-secured zones within existing enterprise computers and devices. This includes Intel Authenticate or IPT on Intel powered computers and Trusted Platform Modules on platforms running Microsoft operating systems. Future support for physical smart cards, smartphones and Internet-of-Things connected devices is planned.
Commenting on the launch, Richard Parris, Chairman and CEO of Intercede said;
"Regardless of the organisation in question, weak or compromised credentials continue to be today's security downfall. Usernames and passwords are the number one cause of the majority of data breaches. While there have been solutions to this problem for a number of years, most of them have been inaccessible to companies with limited IT budgets, scarce resources and a lack of in-house security skills.
"For over 20 years, Intercede has been at the forefront of securing some of the most sensitive and critical industries, including defence, aerospace, government and financial institutions. Through MyIDaaS, we are now offering that same level of security to businesses, without the pain of infrastructure overhaul or significant cost. We believe that it provides a proven, cost effective solution for enterprises of all sizes that need to comply with new regulations for protecting customer information."
Contact
Intercede Group plc |
Tel: +44 (0) 1455 558 111 |
Richard Parris |
Chairman & Chief Executive |
Andrew Walker |
Finance Director |
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finnCap |
Tel: +44 (0) 20 7220 0500 |
Stuart Andrews |
Corporate Finance |
Simon Hicks |
Corporate Finance |
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Capital Access Group |
Tel: +44 (0) 20 3763 3400 |
Scott Fulton |
Media |
Ed Welsby |
Investors |
About Intercede
Intercede is a software and service company specializing in identity, credential management and secure mobility. Its solutions create a foundation of trust between connected people, devices and apps and combine expertise with innovation to provide world-class cybersecurity. Intercede has been delivering solutions to high profile customers, from the US and UK governments to some of the world's largest corporations, telecommunications providers and information technology firms, for over 20 years. Intercede's product portfolio includes MyID, an identity and credential management system that assigns trusted digital identities to employees citizens and machines. In 2015, Intercede launched MyTAM, enabling trusted applications to be loaded into a mobile device's Trusted Execution Environment (TEE), providing hardware-level security for Android apps. In 2016, Intercede launched RapID, a secure, easy to implement authentication service for mobile apps and cloud services to completely eliminate the need for passwords.
For more information visit: www.intercede.com
