Yoti is looking to cut down on phishing fraud through a new partnership with Galaxkey. Galaxkey is a data protection platform that allows users to send encrypted emails that meet the highest government and banking standards.
Partnering with Yoti will allow Galaxkey to provide an even greater level of trust. When sending an email, Galaxkey users will be able to perform a Yoti identity check to generate a Yoti stamp. The stamp will then let the recipient verify the identity of the sender, letting them know that the email is legitimate and that the sender is indeed the person they claim to be.
The service is essentially the digital equivalent of registered mail, and leverages Yoti’s biometric authentication technology to encourage people to be more mindful of phishing scams. While people are becoming more aware that passwords are highly vulnerable, phishing fraud continues to be quite common due to people’s unwillingness to change their bad password behavior. According to Verizon, phishing is still involved in 32 percent of all cyberattacks.
To that end, Yoti is one of the key players pushing for a more modern approach to digital security. The company has provided biometric age and identity verification technology for a wide variety of customers ranging form social media platforms to convenience stores. Earlier this year, Yoti partnered with FaceTec to improve its facial recognition capabilities.
October 8, 2019 – by Eric Weiss