Ping Identity Launches New Decentralized Identity Management Solution

Rhea-AI Summary

Ping Identity has announced early access to PingOne Neo, a decentralized identity management solution aimed at enhancing security and privacy for individuals while alleviating resource burdens for enterprises. This solution enables organizations to verify customer information more simply and cost-effectively, reducing risks of identity theft. PingOne Neo incorporates decentralized identity standards from prominent organizations, streamlining credential sharing and control for users. According to CEO Andre Durand, Neo empowers users with their own data and mitigates fraud risks. Early access is available through Ping Identity's website.

Positive

• PingOne Neo enhances security by reducing identity theft risks.
• The solution simplifies verification processes and reduces resource burdens for organizations.
• PingOne Neo supports multiple recognized decentralized identity standards.

Negative

• None.

PingOne Neo gives individuals control of their digital identities to improve security and privacy

DENVER, March 20, 2023 /PRNewswire/ -- Ping Identity, the intelligent identity solution for the enterprise, announced early access to PingOne Neo™, a multi-standards decentralized identity management solution. Neo improves data security, privacy, and control for individuals while reducing resource and compliance burdens for enterprises.

Many digital services require verified information about people to do business. Neo simplifies getting verified information from a trusted source via verifiable credentials, whether that source is inside or outside of the organization. Organizations can now verify without complex, expensive back-end integrations that increase each organization's attack surface. Neo reduces the possibility of identity theft for individuals and improves security for organizations by instantly establishing trust with individuals based on their digital credentials.

"Organizations spend significant time and money obtaining and verifying information from customers and employees, then attempt to determine access, entitlements, and authorizations to remain secure and compliant," said Andre Durand, CEO and founder of Ping Identity. "Neo eliminates the manual resource burden from businesses while empowering individuals with their own data, reducing threats of fraud or identity theft while increasing privacy."

Decentralized identity reduces the possibility of transaction fraud and account takeovers by helping ensure the person behind the credential is who they claim. With Neo, a person requests a verifiable credential from an organization that is cryptographically signed and verifiable. The verifiable credential is then added to the person's digital wallet and can be shared with the business that requires it. The individual is in complete control of what information gets shared.

PingOne Neo is a component of an open and interoperable platform that supports popular decentralized and other identity standards from the World Wide Web Consortium (W3C), the OpenID Foundation, and the International Organization for Standardization (ISO). Ping Identity is also a key contributor to the Open Wallet Foundation Initiative (OWF) which supports interoperability between digital wallets through open-source software.

Get Early Access to PingOne Neo and explore more benefits in the solutions brief or datasheet.

About Ping Identity
At Ping Identity, we believe in making digital experiences both secure and seamless for all users, without compromise. That's digital freedom. We let enterprises combine our best-in-class identity solutions with third-party services they already use to remove passwords, prevent fraud, support Zero Trust, or anything in between. This can be accomplished through a simple drag-and-drop canvas. That's why more than half of the Fortune 100 choose Ping Identity to protect digital interactions from their users while making experiences frictionless. Learn more at www.pingidentity.com.

Ping Identity Media Relations
Megan Johnson
press@pingidentity.com
757.635.2807

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SOURCE Ping Identity Corp.

FAQ

What is PingOne Neo and its benefits for users?

PingOne Neo is a decentralized identity management solution from Ping Identity that enhances user security, privacy, and control over personal data.

How does PingOne Neo impact enterprises?

It simplifies verification processes for enterprises, reducing resource and compliance burdens.

What standards does PingOne Neo support?

PingOne Neo supports decentralized identity standards from organizations such as W3C, OpenID Foundation, and ISO.

When was PingOne Neo announced?

PingOne Neo was announced on March 20, 2023.

What company is behind PingOne Neo?

PingOne Neo is developed by Ping Identity.

How can users access PingOne Neo?

Users can get early access to PingOne Neo through Ping Identity's website.