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VinCSS leads passwordless authentication industry in Southeast Asia
New award for VinCSS is firm recognition of its successful efforts in passwordless authentication.
According to its latest report, the VinCSS JSC has received the “Best Practice” award from Frost & Sullivan, a leading market research company. Past recipients of the award include Google, Zoom, Oracle, and Fortinet, for their revolutionary achievements as leaders of their respective markets.
The rapid progress of science and technology in the 21st century necessitates sweeping reforms in information security, especially in identity management, which is among the sectors that must undertake fundamental transformation as contemporary password-based methods and systems have become outdated. According to studies conducted by Verizon and Forrester, passwords, a 60-year-old invention, are the main cause of most data breaches and phishing attacks on both businesses and users resulting in damages in the billions of dollars.
In light of this, passwordless authentication is a promising solution to the shortcomings inherent in conventional passwords. In 2012, the Fast IDentity Online (FIDO) Alliance was established with participation from the world’s leading technology companies, such as Apple, Microsoft, and Google, etc., for the joint development and application of passwordless authentication in accordance with international standards.
Developing procedures to assist businesses in transitioning to passwordless authentication has proven to be challenging. A decade after the establishment of the FIDO Alliance, the authentication market is still the exclusive domain of tech giants, and only enterprises with significant potential are willing to put efforts into technology solutions that satisfy FIDO2 standards.
Pioneering Southeast Asian market as Vietnam’s representative
Since 2018, as the only organization representing Vietnam in the FIDO Alliance and on equal footing with renowned groups such as Sony, Huawei, and IBM, etc., VinCSS has unceasingly proven its global competitiveness. In the span of three years, it has successfully launched a passwordless authentication ecosystem - the VinCSS FIDO2 Ecosystem - which includes seven fully-functioning features that received FIDO2 certification. Just recently, in August, the company launched VinCSS IoT FDO, which incorporates the latest FIDO Device Onboarding technology, to optimize security for IoT devices.
With such outstanding achievements, Frost & Sullivan, a market research organization established since 1961 and with global recognition, recognized VinCSS as the leading enterprise in the passwordless authentication industry in Southeast Asia. With this recognition, Frost & Sullivan has honored VinCSS with the Enabling Technology Leadership Award - The SEA Passwordless Authentication Industry. Frost & Sullivan’s Best Practice award is among the most coveted award sought by businesses around the world, especially tech companies.
The award has been presented for over 20 years and has an accreditation panel consisting of leading scientists and analysts from 12 different industries, focusing on evaluating and discovering promising businesses with the potential to corner the market by innovating and utilizing technological progress. Frost & Sullivan’s Best Practice award has been presented to Google, Zoom, Oracle, Siemens, Fortinet, and various other major vendors.
According to experts from Frost and Sullivan, the FIDO2 ecosystem enables businesses to address multiple use cases, including eliminating credential replay attacks with user presence checks to prevent malware hacking, providing authentication standard enforcement to ensure supply chain security, and addressing authentication redundancy to fast-track and support better compliance and audit requirements.
Passwordless authentication has prevented up to 91 per cent of identity theft incidents, lowered operating costs by 14 per cent for companies, raised the user efficient experience by 64 per cent, and increased successful digital conversion by 21 per cent, according to Security Insider.
VinCSS FIDO2: Diversifying to conquer international market
Highly regarded by experts for Innovation, Creativity, Efficiency, and Diversity, VinCSS has made a name for itself in both the domestic and international markets by providing services of exceptional quality and catering to the extensive demands of the passwordless authentication market.
After the success of the first FIDO2-Standard passwordless authentication ecosystem in Southeast Asia, VinCSS has obtained valuable experience and conducted broad research, eventually launching a security solution for IoT devices, VinCSS IoT FDO. This technology has been incorporated into one of the world’s most secure commercial cameras by Pavana, a reputable smart camera manufacturer.
“Beyond applying passwordless authentication on IT systems and IoT devices, VinCSS will proceed to develop security measures for connected cars and other utilities of international standards, mastered by Vietnamese,” said Mr. Do Ngoc Duy Trac, CEO of VinCSS.
