TEL AVIV, Israel & BOSTON--(BUSINESS WIRE)--Transmit Security, the Identity Experience™ company, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022.
This year’s list honors businesses that are making the biggest impact on their industries and culture as a whole—ultimately thriving in today’s ever-changing world. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century.
“This recognition further affirms our mission to provide simple and secure passwordless authentication for everyone,” said Mickey Boodaei, CEO and Co-Founder of Transmit Security. “Our flagship product BindID makes cyberthreats that target passwords irrelevant, closing a very common vector of fraud and account takeovers while eliminating friction for consumers. Being acknowledged as a top-ten innovator in security underscores how imminent and necessary passwordless authentication has become.”
As an industry leader in passwordless authentication, Transmit Security specializes in solving the complex problems associated with digital customer identities, like login friction and vulnerabilities to phishing, credential stuffing, and other forms of attack.
“Passwords remain ubiquitous in user authentication but are vulnerable to many attacks. Thus, they do little to bring account takeover (ATO) and other digital-identity risks within an organization’s risk tolerance. Compromised passwords account for more than 60% of breaches due to hacking,” reported Gartner®1. “With or without additional factors, passwords can be a significant source of friction and frustration for users and administrators. They degrade user experience (UX) for both employees and customers, and create a significant volume of service desk or contact center calls. Thus, Gartner clients are increasingly seeking passwordless authentication methods.”
“Citi Ventures is thrilled to see Transmit Security recognized by Fast Company this year for their innovative solution that is pioneering a world of passwordless authentication,” said Arvind Purushotham, Managing Director and Global Head of Citi Ventures. “Transmit Security is in a unique position to help organizations give their consumers what they want – never to have to remember their password again — and we are excited by what’s ahead for the team.”
1 Gartner, Take 3 Steps Toward Passwordless Authentication, Ant Allan, 19 October 2021.
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About Transmit Security:
Transmit Security is on a mission to revolutionize the digital identity experience. Around the world, enterprises rely on Transmit Security to deliver innovative identity journeys, beginning with passwordless authentication. Transmit Security’s customers include many of the world’s largest banks, insurers, retailers, digital commerce companies, service providers, and more. For more information, please visit www.transmitsecurity.com.
