Intercede Group PLC Launch of MyIDaaS (1999H)
06 June 2017 - 4:00PM
UK Regulatory
TIDMIGP
RNS Number : 1999H
Intercede Group PLC
06 June 2017
6 June 2017
INTERCEDE GROUP plc
("Intercede", or the "Group")
Launch of MyIDaaS
Intercede, the leading specialist in digital identity,
credential management and secure mobility, is pleased to announce
the launch of MyID as a service (MyIDaaS), a cloud-based variant of
the Group's successful MyID software.
The launch of MyIDaaS reflects Intercede's recognition that all
enterprises are facing increasing demands for higher levels of
security. Regulators across the world are establishing rules to
ensure that security not only catches up with internet development
but seeks to "future proof" interconnectivity from emerging
threats.
For example in the US, President Trump's Executive Order on
Cybersecurity requires public and private providers of critical
infrastructure and digital services to ensure that the highest
recommended standards for cybersecurity are applied universally.
This is manifest in New York State 23 NYCRR 500 Cybersecurity
Requirements for Financial Services Companies and NIST Special
Publication 800-171 for government contractors mandating
multi-factor authentication to ensure enhanced levels of identity
assurance.
In Europe, the Second Payment Services Directive (PSD2), the
General Data Protection Regulations (GDPR) and the Markets in
Financial Instruments and Derivatives (MiFID II) Directive all
mandate enhanced levels of digital trust enabled by strong customer
authentication. These international regulatory frameworks create a
large global market for password replacement technologies which
MyIDaaS has been specifically designed to satisfy. By adhering to
the most stringent of regulations all companies, regardless of
sector and size, can meet their compliance obligations quickly and
with ease.
The latest solution from Intercede has been created by
envisioning and reengineering the Company's existing MyID solution
to operate as a secure, self-service, multi-tenanted Cloud service.
It is designed to enable organisations to replace employee
passwords with more secure and convenient digital identities on
real or virtual smart cards, pluggable tokens, mobile devices and
embedded security modules. The solution manages the lifecycle of
credentials, for example revoking them if a user leaves an
organisation or updating them in advance of the credentials
expiring.
Businesses using the service will be provided with a dedicated
certification authority and the ability to deploy digital
identities on to hardware-secured zones within existing enterprise
computers and devices. This includes Intel Authenticate or IPT on
Intel powered computers and Trusted Platform Modules on platforms
running Microsoft operating systems. Future support for physical
smart cards, smartphones and Internet-of-Things connected devices
is planned.
Commenting on the launch, Richard Parris, Chairman and CEO of
Intercede said;
"Regardless of the organisation in question, weak or compromised
credentials continue to be today's security downfall. Usernames and
passwords are the number one cause of the majority of data
breaches. While there have been solutions to this problem for a
number of years, most of them have been inaccessible to companies
with limited IT budgets, scarce resources and a lack of in-house
security skills.
"For over 20 years, Intercede has been at the forefront of
securing some of the most sensitive and critical industries,
including defence, aerospace, government and financial
institutions. Through MyIDaaS, we are now offering that same level
of security to businesses, without the pain of infrastructure
overhaul or significant cost. We believe that it provides a proven,
cost effective solution for enterprises of all sizes that need to
comply with new regulations for protecting customer
information."
Contact
Intercede Group plc Tel: +44 (0) 1455 558 111
Richard Parris Chairman & Chief Executive
Andrew Walker Finance Director
finnCap Tel: +44 (0) 20 7220 0500
Stuart Andrews Corporate Finance
Simon Hicks Corporate Finance
Capital Access Group Tel: +44 (0) 20 3763 3400
Scott Fulton Media
Ed Welsby Investors
About Intercede
Intercede is a software and service company specializing in
identity, credential management and secure mobility. Its solutions
create a foundation of trust between connected people, devices and
apps and combine expertise with innovation to provide world-class
cybersecurity. Intercede has been delivering solutions to high
profile customers, from the US and UK governments to some of the
world's largest corporations, telecommunications providers and
information technology firms, for over 20 years. Intercede's
product portfolio includes MyID, an identity and credential
management system that assigns trusted digital identities to
employees citizens and machines. In 2015, Intercede launched MyTAM,
enabling trusted applications to be loaded into a mobile device's
Trusted Execution Environment (TEE), providing hardware-level
security for Android apps. In 2016, Intercede launched RapID, a
secure, easy to implement authentication service for mobile apps
and cloud services to completely eliminate the need for
passwords.
For more information visit: www.intercede.com
This information is provided by RNS
The company news service from the London Stock Exchange
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