San Diego/Seattle (PRWEB) September 27, 2006
Today, at DEMOfall 2006, MyPW ( http://www.mypw.com ) announced the debut of its new online security service. With only a few lines of code, any website or internet-connected application can upgrade its basic login and password security to a highly secure two-factor authentication system.
The MyPW system uses a keychain-sized hardware device, which generates rotating numerical codes. In addition to asking users to enter their login and password, a MyPW-enabled website also asks for the user to enter the code that is shown on their device. Because the codes are frequently changing, an intruder would have to know the user’s password, as well as physically possess the user’s MyPW device, in order to log into their account.
Unlike similar authentication systems, which target the corporate and enterprise markets, MyPW is designed for consumer applications. Other systems require complex integration, high startup costs, and a closed-environment where each secured application requires its own dedicated device. MyPW makes the technology accessible via open-standard internet protocols, with no minimum purchases or setup fees. Pricing is a monthly fee based on the number of users using MyPW during that month.
Additionally, if a user’s bank, brokerage, and email provider are all using other token-based authentication systems, they would need to carry around three different devices. However, a single MyPW device can be used with an unlimited number of different MyPW-enabled sites and services.
“There is no question that this technology works,” said Daryn Nakhuda, CEO and cofounder of MyPW. “Similar token devices have been used to secure networks and enterprises for years. However, until MyPW, it just wasn’t a practical solution for the consumer market. No one wants a carry around a half-dozen token devices, and few websites could afford the high costs of providing this level of security to their users.”
"With identity theft and online fraud on the rise, MyPW's simple and affordable solution is a welcome breath of fresh air to the world of costly and complex security products," said Chris Shipley, executive producer, DEMOfall 2006. "If you operate an Internet business, there is no excuse not to integrate MyPW into your system."
MyPW provides a platform that makes it easy for companies to add strong, hardware-based authentication to their online applications and Websites. MyPW was founded in 2006 by Daryn Nakhuda and Brian Cartmell, most recently known for the innovative anti-spam service, Spam Arrest. The company is privately held, and based in Seattle, Washington. For more information about MyPW, please visit http://www.mypw.com.
About DEMOfall 2006
The DEMO conferences focus on emerging technologies and new products, which are hand-selected from across the spectrum of the technology marketplace. The DEMO conferences have earned their reputation for consistently identifying tomorrow's cutting-edge technologies, and have served as launch pad events for companies such as Palm, E*Trade, Handspring and U.S. Robotics, helping them secure venture funding, establish critical business relationships and influence early adopters. Each DEMO conference features approximately 70 new companies, products and technologies. For more information on the DEMO conferences, visit http://www.demo.com .