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11/19/2021

Sift Acquires Keyless in Battle Against Account Takeover Fraud

PYMNTS.com

Digital fraud prevention firm Sift has acquired Keyless, a company that provides passwordless and multi-factor authentication.

“Keyless’ zero-knowledge cryptography and privacy-preserving biometric authentication technology eliminates account takeover (ATO) fraud due to weak or stolen passwords, phishing, and credential reuse, while allowing users to log into websites and apps simply by looking into their device’s camera,” Sift said in a Wednesday (Nov. 17) news release.

The company noted the acquisition comes in an era in which account takeover attacks have reached new heights during the pandemic, with business businesses facing the threat of hackers using large-scale automation to conduct massive ATO attacks and steal account value, payment info and other personal data.

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