swIDch has won the “Authentication Solution of the Year” award in the 4th annual CyberSecurity Breakthrough Awards conducted by CyberSecurity Breakthrough. The cybersecurity authentication technology startup, was recognised for its technologies, as well as its industrial competitiveness and business innovation.
“We are honoured and thrilled to win the Authentication Solution of the Year with our innovative OTAC platform at the 2020 CyberSecurity Breakthrough Awards aiming to highlight the breakthrough products, solutions and companies within the crowded information security market,” said Chang-Hun Yoo, Founder and CEO, swIDch. “swIDch will continue to evolve our breakthrough approaches and technologies to build safer and stronger authentication infrastructures over various industries including financial service, connected car, smart factory, and utilities.”
swIDch is committed to bringing secure authentication to every digital identity – even in the off-the-network environment. The Company’s OTAC (One Time Authentication Code) identifies and authenticates users securely and efficiently, without the need for two-way connectivity and new infrastructure.
OTAC is a dynamic token generated from a user’s mobile device that does not duplicate and authenticate the user/devices with the code alone even in an off-network environment. OTAC compensates for any weaknesses posed by static user credentials and heavy network reliance. OTAC’s dynamic code can recognise who generated the codes and what device they used – eliminating the need for complex tokenisation infrastructure which reduces server load, as well as the costs associated with network traffic, maintenance and fraud compensation.
“swIDch’s technology has great market potential and business salability with OTAC experienced positive momentum in proving its commercial viability,” concluded James Johnson, managing director, CyberSecurity Breakthrough. “We congratulate swIDch on winning the Authentication Solution of the Year award and we look forward to witnessing swIDch’s continued growth and innovation within the CyberSecurity space.”