The Telnyx Verify API offers a scalable and simple two-factor authentication solution.
CHICAGO, ILLINOIS, UNITED STATES, December 10, 2020 /EINPresswire.com/ — Telnyx, the world’s only self-service, full-stack CPaaS announced the beta launch of its Verify API product—a security solution created to easily deliver two-factor authentication (2FA) with messaging and voice using a simple API and self-service portal.
In the wake of recent conversations about data privacy and consumer protection, businesses have increasingly turned to two-factor authentication as an added security measure to protect their customers and assets. Compromised usernames and passwords result in unauthorized access, which can lead to fraudulent transactions and data breaches. Two-factor authentication has been embraced as a reliable solution to this problem, providing an additional barrier for outsiders trying to access digital environments.
In the first half of 2020 alone, there were 540 publicly reported data breaches, impacting over 160 million individuals, with the average cost of data breaches for affected companies nearly $4 million per business. These numbers help to explain the rapid growth of the global market for two-factor authentication, which is projected to be worth $8.98 billion by 2024. And yet, a recent study conducted at the Guide Share Europe UK Conference showed that only 20% of IBM mainframe customers were using multi-factor authentication to protect data and applications.
Many organizations recognize the value of two-factor authentication in mitigating security risks, but they have yet to implement it. A commonly cited barrier to adoption is the cost of implementation, with many existing providers offering rigid pricing structures. This makes it difficult for organizations to scale usage as business needs grow. Telnyx Verify API solves this problem by offering a flexible pricing model based on API requests and applying volume discounts if and when businesses are ready to scale up their usage.
Another recurring challenge to adoption is the technical complexity of integrating two-factor authentication with existing processes. The need for additional time and resources to roll out a solution can result in this critical security measure being deprioritized at many organizations. Telnyx is committed to creating a security solution that is accessible and simple, which is why Verify can be set up on the Telnyx platform in two simple steps. Additionally, the 24/7/365 support available for all customers, and comprehensive developer documentation helps to empower users to build and deploy their two-factor authentication solutions quickly, with minimal development resources.
Finally, many believe that two-factor authentication solutions deliver a poor end-user experience because users don’t want to be inconvenienced with an extra step in authenticating their identity. Telnyx Verify minimizes this issue by delivering one time passwords through the ubiquitous channels of SMS and voice. This removes friction for an end-user, eliminating the need to download an app or enable authentication on their end.
The new Verify API product comes with built-in features that equip developers with everything they need to build and scale their cost-effective security solution with ease. Key features include:
– Scalable one-time password (OTP) delivery on our private network.
– Client-based DLRs for detailed insight into message interaction.
– Short codes, long codes, and alphanumeric sender ID.
– Automatic OTP expiration.
– Affordable, easy to understand pricing.
– Robust documentation and API reference.
One industry target is healthcare, where the vast amount of sensitive data—social security numbers, home addresses, date of birth, etc.—collected in patient databases make them a major target in cyberattacks. Peter Carlisle, head of EMEA at cloud and data security company Thales eSecurity, warns that cyber-criminals can sell this data, use it for identity theft, fraudulently acquire benefits like Medicaid and Medicare, or obtain prescriptions. E-commerce and retail is another sector ripe with opportunity to make a big impact: e-commerce fraud has increased year over year since 2010, with payment card fraud losses incurred by merchants and cardholders totaling $9.47 billion in 2018, in the United States alone. Telnyx Verify provides a two-factor authentication solution with immediate security benefits which are highly valuable in both of these verticals.
Telnyx delivers voice, SMS, and more for next-gen connectivity applications. A robust platform that provides global carrier-grade services, Telnyx maintains a global, private IP network and grants its customers unprecedented control through its easy-to-use portal and intuitive APIs.
Telnyx products include voice, messaging, fax, lookup, and wireless APIs. Customers provision services on-demand and only pay for what they use. Every Telnyx customer has access to 24/7 in-house engineering support, and Telnyx continues to offer complimentary services like configuration management, enterprise security, and fraud detection.
For more information, please visit telnyx.com.