Nymi Illustrates Rise of Biometrics, Wearables in the Enterprise

Nymi is making the case for biometric security with a new infographic. Posted on the company’s blog and drawing on a range of resources, the document lays out the security risks that today’s companies are facing, and sophisticated new solutions.

Nymi asserts that last year saw 781 enterprise data breaches, with the average cost to a company coming in at $3.5 million. Sixty-three percent of those breaches involve stolen or weak passwords; the three most common passwords are “123456”, “12345678”, and “Password”.

Looking to solutions, 78 percent of users say they’d be willing to try multi-factor authentication, and half say they prefer biometrics to passwords or PINs. Thirty percent of organizations will use biometric authentication by the end of this year, and 30 percent say they are investing in wearables for employees.

That, of course, is where Nymi’s flagship product, the Nymi Band, comes in. The device is a biometric bracelet that uses cardiac biometrics to enable constant, passive authentication, with applications in access control, digital payments, and beyond. Many of the 51 percent of organizations who have ‘identified wearables as a priority’ will likely consider deploying such a device as they proceed with their explorations of biometric security.

–

July 25, 2016 – by Alex Perala