Thales and SoyYo Spearhead Passwordless Authentication Revolution for Colombian Users

Thales and SoyYo Spearhead Passwordless Authentication Revolution for Colombian Users

(IN BRIEF) Thales, a leading global technology and security provider, is expanding its partnership with SoyYo, a Colombian digital identity provider, to introduce FIDO2 passkeys for passwordless authentication. This collaboration aims to enhance online security and user experience by allowing millions of Colombians to access digital services without the need for traditional usernames and passwords. Passkeys, which consist of a pair of keys verified by biometrics or a device code, offer improved login success rates, reduced login times, and increased security. Thales’ Gemalto IdCloud, part of the Thales OneWelcome Identity Platform, provides both synced and device-bound passkeys, catering to various authentication needs. This initiative represents a significant step towards a passwordless future in digital authentication, enhancing security and convenience for users while supporting open finance use cases and regulatory compliance.

(PRESS RELEASE) PARIS, 18-Oct-2023 — /EuropaWire/ — Thales, the leading global technology and security provider, announced it is expanding its collaboration with SoyYo, a digital identity provider for companies in Colombia, introducing FIDO2 passkeys for passwordless authentication. This implementation will enable millions of Colombians to connect with their digital identities and access digital services without typing any usernames and passwords.

Passwords have long been the weakest link for consumers to access online services securely. Now with passkey, the user identity is verified with biometrics or a device code so users can log in quickly and securely. Each passkey consists of a pair of keys, one of which remains stored in an encrypted format on the device, keeping it safe in the event of a data breach. For businesses that offer digital services, passkeys provide multiple benefits including improved login success rates and reduced login times, along with strong security and reduced operating costs. In this collaboration, the creation of the passkey is preceded by an identity verification, which enables a user centric, reusable SoyYo passkey assigned to the verified user.

“Passwords have been the fatal flaw in digital authentication for decades, but with the introduction of passkeys we are finally on the brink of a passwordless future. We are confident that passkeys will become the dominant authentication method, not only to secure access to services and platforms, but also to authorize any sensitive operations. We are proud to offer passkeys to all our customers, including those in regulated industries. We are pleased to support SoyYo, an agile fintech, playing a crucial role as an identity provider, with a smooth migration to a modern, future-proof solution.” ​Danny de Vreeze, Vice President for Identity & Access Management at Thales

SoyYo helps businesses protect their users’ digital identity and keep their data safe online. They have relied on Thales for the last three years by using its cloud-based identity platform to securely onboard customers digitally with document verification and identity proofing as well as enabling access to their mobile app. With the implementation of passkeys, they will now be able to utilise the same platform to introduce passwordless authentication to end users, further improving the customer experience.

“Passkeys will help us strike that necessary balance between user experience and security, bringing authentication that is both familiar to users and phishing-resistant. We are pleased to be able to leverage an adaptable solution like the Gemalto IdCloud to power this offering, along with the full scope of our identity proofing and authentication needs. We have been partnering with Thales for a long time and look forward to continuing the collaboration to better serve our customers with solutions focused on usability, security, and global compliance.” Santiago Aldana, CEO at SoyYo

Thales Gemalto IdCloud is part of the Thales OneWelcome Identity Platform, which provides passwordless authentication through two types of passkeys:

• Synced passkeys for low assurance authentication, such as login to a mobile application, which automatically synchronizes within a device ecosystem.
• Device-bound passkeys for high assurance authentication, such as signing a transaction, that are uniquely bound to a specific device.

Thales Gemalto IdCloud is a cloud-based service that enables customers to combine identity proofing, strong customer authentication (SCA) and risk management to secure onboarding and access in one single platform.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies within three domains: Defence & Security, Aeronautics & Space, and Digital Identity & Security. It develops products and solutions that help make the world safer, greener and more inclusive.

The Group invests close to €4 billion a year in Research & Development, particularly in key areas such as quantum technologies, Edge computing, 6G and cybersecurity.

Thales has 77,000 employees in 68 countries. In 2022, the Group generated sales of €17.6 billion.

Media Contact:

Marion Bonnet
Press and social media manager, Security and Cyber
+33 (0)6 60 38 48 92
marion.bonnet@thalesgroup.com

SOURCE: Thales