CHICAGO, April 16, 2013 (GLOBE NEWSWIRE) -- Authentify, the leading provider of services to enable the telephone as a security device for Internet transactions, today announced that it has been positioned in the Visionaries quadrant of the Gartner Inc. 2013 "Magic Quadrant for User Authentication." (1) The Magic Quadrant analysis is based on Gartner's assessment of a company's completeness of vision and ability to execute.
Authentify will present its vision of using mobile devices for IT security at a series of upcoming events including InfoSec Europe (London, April 23-25) and the FS-ISAC/BITS Annual Summit (Jacksonville, April 28-May 2).
Authentify believes it benefited from a significant change in Gartner's Completeness of Vision evaluation methodology. The 2013 Magic Quadrant research cites the June 2012 report, "The Nexus of Forces: Social, Mobile, Cloud and Information," in which Gartner analysts noted that "a nexus of converging forces -- social, mobile, cloud and information -- is building upon and transforming user behavior while creating new business opportunities."
The nexus of forces insights influenced the 2013 User Authentication, as the report explains: "Looking at the trends in the user authentication market over the past year and into the next few years, it is these four forces that surface as the most significant. Vendors' market understanding and offering (product) strategy were evaluated against these market trends. This represents a significant change from the 2012 Magic Quadrant research (only cloud was significant in that evaluation); thus, vendors that really 'get' the impact of mobile, information and social have tended to shift toward the right (increased Completeness of Vision)."
Gartner also found that the market demand for authentication remains strong. "Enterprise interest in OTP methods, broadly defined, remains high, with phone-as-a-token methods dominating traditional hardware tokens in new and refreshed deployments," the Magic Quadrant report stated.
These market forces are driving strong growth at Authentify. The company's revenues grew 40 percent year-over-year in 2012, significantly greater than Gartner's estimate of a 15 percent average revenue growth rate for the authentication industry.
"As Authentify brings to market mobile products we have been developing since 2009 it is gratifying to see well-respected organizations such as Gartner recognize our efforts," said Peter Tapling, president and CEO of Authentify. "We are seeking to define the mobile authentication space, much as we did with the Out of Band Authentication space. You don't do that with 'me too' products."
Tapling has spent more than 20 years bringing new technologies onto the information technology landscape and serves on the NACHA Internet Council. He has participated in the American Bar Association Digital Signature Committee, which developed the Digital Signature Guidelines document, and the IETF PKIX working group. He also provided a draft review of the digital signature legislation that was eventually approved by the State of Illinois.
More information is available at www.authentify.com.
(1) Gartner, Inc., Magic Quadrant for User Authentication, Ant Allan, March 7, 2013.
About the Magic Quadrant
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About Authentify, Inc.
Authentify, Inc. is a leading global provider of telephone-based Out-of-Band (OOB) authentication services. With a client list that includes five of the world's top ten banks, three of the five largest ecommerce websites and two of the top four insurance companies in North America, Authentify has the most experience and expertise in deploying OOB solutions in the industry. These multi-factor authentication (MFA) services enable organizations that need strong security to quickly and cost-effectively add two-factor or multi-factor authentication layers to user logons, transaction verifications or critical changes such as adding an ACH payee, resetting passwords or changing contact information. The company's patented technology employs a service-oriented message architecture and XML API to seamlessly integrate into existing security processes. Authentify markets primarily to financial services firms that need to protect their clients' online accounts, corporate security professionals managing access control, and emerchants who want to limit fraud on their sites.
For more information, visit Authentify at: www.authentify.com.
Authentify is protected by numerous granted and pending U.S. and
International patents including
U.S. PATENT NOS. 6,934,858 / 7,383,572 / 7,461,258 / 7,574,733.