NEW YORK, Sept. 25, 2018 /CNW/ -- Boloro's multi-channel and multi-factor authentication process has been certified by the GSMA (Global Association of Mobile Carriers) under its GSMA Mobile Connect program, opening the door for Mobile Network Operators worldwide to offer access to Boloro's process, which avoids the Internet and the Operating System, making it ideal for logins, identity verification and validation of all transactions and other activity, including online banking, eCommerce, social media and access to data.
"Boloro's authentication process never touches the Internet or the Operating System, avoiding the vulnerabilities that are inherent with all solutions that involve the Internet and OS," according to Karl P. Kilb III, CEO of Boloro Global Limited. "Boloro's multi-channel approach separates the authentication from the transaction, leveraging the secure signaling layer of the mobile carrier, creating a safe, user-friendly and instantaneous way for users to verify themselves and their transactions before processing, preventing fraud."
Boloro's "ATM-like solution in the palm of your hands" is multi-factor, leveraging the physical handset a user possesses and the memorized PIN or password that a user knows, and multi-channel, separating the authentication from the transaction itself, avoiding the Internet and the Operating System, which have become a single point of failure on other solutions.
Security experts now recognize that the Internet and Operating System are inherently insecure, with numerous breaches and billions of dollars in fraud attributed to malware that infects PCs, mobile handsets and web browsers and man-in-the-middle attacks that are prevalent when there is a single point of failure. One Time Pins and Passwords (OTP) sent via SMS are routinely compromised and need to be replaced. Biometric solutions have also been defeated, and once they are compromised, they can never be relied upon again.
Identity leaders, including Joni Brennan, the President of the Digital ID and Authentication Council of Canada (DIACC), are recognizing the benefits of Boloro's approach. "DIACC is proud of our innovating membership including Boloro who recently showcased their approach to influencers from around the globe at DIACC's Industry Day as a part of the International Identity Summit," Brennan said. Boloro serves on DIACC's Innovation Expert Committee.
ABOUT BOLORO GLOBAL LIMITED
Boloro licenses its multi-factor and multi-channel mobile authentication and payment service process, which is compatible with any phone, including smartphones and feature phones, without the need to download an app. The process is ideal for identity verification and transaction validation. It is globally patented and available for white label licensing and local or cloud-based hosting. Governments, banks, retailers and social media are among the customers. The process complies with Europe's GDPR and other data protection / privacy regulations by providing security without requiring personal biometric data. Boloro Global Limited is a New York City-based Delaware, USA corporation with subsidiaries in Dubai and India. Boloro is an associate member of the GSMA (Global Association of Mobile Carriers), which has certified Boloro's process under GSMA Mobile Connect, as well as a member of the FIDO (Fast Identity Online) Alliance and DIACC (Digital ID & Authentication Council of Canada), serving on DIACC's Innovation Expert Committee.
SOURCE Boloro Global Limited