WISeKey Recommends Replacement of Usernames And Passwords With Two-Factor Authentication to Mitigate Current Cybersecurity Risks

Rhea-AI Summary

WISeKey announced on March 22, 2022, a new two-factor authentication (2FA) service to enhance cybersecurity for users. This step allows subscribers to replace traditional usernames and passwords, improving protection for accessing PCs, emails, and critical applications. Offered via the WISeID platform, users can create accounts with free services and opt for additional paid cybersecurity features. The service aligns with governmental recommendations for stronger cybersecurity defenses, aiming to minimize risks associated with digital transactions.

Positive

• Introduction of a two-factor authentication (2FA) service to enhance user security.
• Free access to the WISeID cybersecurity platform, encouraging widespread adoption.
• Potential for businesses to improve their security posture with managed PKI services.

Negative

• None.

WISeKey Recommends Replacement of Usernames And Passwords With Two-Factor Authentication to Mitigate Current Cybersecurity Risks

WISeKey has enabled free access to its WISeID.COM cyber security platform of services incusing the offering of a two-factor authentication (2FA), aiming to reduce the attack-surface on digital assets and personal information, and securely dematerialize electronic transactions.

GENEVA – March 22, 2022: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity company, today announced the offering of a two-factor authentication (2FA), allowing subscribers to replace their username and password login process with 2FA as a stronger method of protecting access to PCs and laptops and introducing stronger authentication before allowing access to emails and critical applications.

WISeID, based on the WISeKey/OISTE Root of Trust, integrates innovative technologies to offer any individual or business entity, the ability to create an account, accessing several basic services, free of charge, which then can be upgraded to access additional multiple cybersecurity services. The WISeID web services and mobile applications, already available for download and use, provide users with a digital identity that can be used to secure email communication, digitally sign documents with legal validity and is complemented with features such as dual factor authentication and single sign-on.
To enforce 2FA, subscribers must have a digital certificate issued by WISeID.COM as an accredited Certification Authority (CA).

Corporate customers not willing to implement their own PKI platform can benefit from WISeKey’s trusted “PKI As a Service” (Managed PKI) offering.

This service is built with WISeKey’s URA and enables:

1. Multiple Certificate Templates
2. Multi-Tenant access, isolating the data of each customer
3. Possibility to deploy dedicated CAs for the customer, or use WISeKey’s Trusted CA
4. Possibility to deploy a fully dedicated and isolated infrastructure, not sharing any resource with other customers
5. Doesn’t require the installation of any local infrastructure, and it’s delivered from WISeKey’s owned secure datacenter in Switzerland, ensuring the privacy of data according to the highest standards.
   
   

The WISeID security features are offered as a freemium service, where users can benefit from a free trial service, fully enabled to cover urgent needs and then, given the choice to purchase digital certificates or permanent storage with secure backup and other advantages, through an annual subscription. The service will also be offered to selected companies, in a B2B model. WISeID is accessible as a web service via the WISeId.com trust services portal and enterprise standard APIs that allow the integration with business applications. For more information visit https://wiseid.com.

As recommended by several governments it is essential the strengthening of cybersecurity defenses mandate the use of multi-factor authentication to make it harder for attackers to get onto the system.

About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.

Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.

Press and investor contacts:
WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com

WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
lcati@equityny.com

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties, and other factors, which could cause the actual results, financial condition, performance, or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

FAQ

What is the new service offered by WISeKey (WKEY) as of March 22, 2022?

WISeKey introduced a two-factor authentication (2FA) service to improve cybersecurity for users.

How does WISeID enhance online security for its users?

WISeID allows users to replace traditional usernames and passwords with a two-factor authentication process.

What are the benefits of using WISeKey's two-factor authentication service?

The service enhances protection for accessing PCs, emails, and critical applications, thus lowering cybersecurity risks.

Is WISeID's cybersecurity service free to use?

Yes, WISeID offers free access to basic services, with options for additional paid features.

What industry standards does WISeKey (WKEY) follow for cybersecurity?

WISeKey's services align with government recommendations for strengthening cybersecurity defenses.