Secure enabler for access.
swIDch is an authentication technology startup for enterprises. We are committed to bring secure authentication to every digital identity even in the off-the-network environment.
Cybercrime is costing the global economy $2.9M every minute in 2020 and some 80% of these attacks are password related.
Passwordless Authentication Report, World Economic Forum, Jan. 2020.
We think that is because the world is constantly connected to a network and relies heavily on the use of static information. This makes it very easy for hackers to obtain sensitive information.
We need a better authentication solution to overcome the risk of relying on a network connection and using static information.
(One Time Authentication Code)
swIDch developed OTAC algorithm that identifies and authenticates users securely and efficiently, without the need for two-way connectivity and new infrastructure.
OTAC is a Dynamic token
Does NOT duplicate
Identify user with the code alone
No network needed
How does it work?
Authorised users can use their mobile device to generate a one-time alphanumeric or QR code. In effect, the user’s device acts like a token server, generating a one-time code for access without the need to connect to a network. Identification and authorisation are then both enabled when users type or scan their code into the system they want to access.
Strong Security - Passwordless Multi-factor Authentication. No identity theft and CNP(Card-not-present) frauds by completely eliminating the attack surface.
Scalability/Flexibility - The lightness (<4KB) of OTAC enables applications in multiple industries and not limited to devices
Seamless Integration - Use of API/SDK to bring simple and frictionless integration for IT admins.
Cost Saving - No need to build heavy token infrastructure. Save costs associated with network traffic, maintenance, and fraud compensation.
Identity and Access Management
Forget passwords and OTPs. Users can securely access to services/network with OTAC code alone. OTAC guarantees hassle free log-in that works even in an off-the-network environment. With OTAC, access to your company applications anywhere and anytime. Remote working is no longer a problem.
OTAC technology enables to generate unlimited Dynamic Virtual PAN (primary account number) without a network connection, thereby creating a new security environment in the payment process. This patented technology is a CNP security solution that replaces static card information with dynamic PANs which gives users full control over their security and finance.
OTAC is unidirectional authentication technology that allows devices to simply authenticate your user/object with the dynamic code. Enable your users to locally generate OTAC and deliver it over various channels such as voice, keypad, Bluetooth, etc. Algorithm size under 4KB fits into any device chips for enhanced security.
swIDch’s vision is to utilise OTAC to become the “oxygen” of authentication.
With this vision in mind, Chang-Hun (Founder & CEO) began his business in November 2015. The company started under the name SSenStone in Seoul, and its first authentication product - Stonepass, used a 2-way dynamic key matching algorithm which is FIDO 1.0 and FIDO2 certified. Currently, 50+ clients including governments, universities, and banks are using SSenStone’s authentication solutions.
In 2018, Chang developed a revolutionary dynamic One-Time Authentication Code algorithm that allows authentication in an off-the-network environment. The technology holds more than 120 patents globally. With this technology, swIDch was established as a global business headquater in London and received worldwide recognition for its innovative authentication technology.
Accelerations and Recognitions