WiActs, the company behind NoPassword solution, is a venture-backed, scaleup startup, based in Silicon Valley, CA. The company was founded in 2014 and launched NoPassword at the end of 2015.
WiActs was founded to address the security challenges and inconveniences of passwords, and to bring an innovative twist to modernize identity and improve the authentication process for the millions of users every day. The technology is developed by in-house engineers and scientists from top US and European universities.
NoPassword is the next generation of identity and access management solution that substitutes passwords with Human (biometric and behavioural) and Hidden (frictionless) multi-factor authentication (H2MFA™ ).
NoPassword solution allows enterprise users to securely and conveniently access all accounts using frictionless MFA. With NoPassword, credentials (passwords and biometrics) are never stored on a centralized database. And because users don’t manually enter credentials, NoPassword eliminates the possibility of cyber attacks such as phishing, social engineering,key-logger, and replay attacks. This results in securing user’s access against 85% of cyber attacks that primarily target passwords.
Since its launch in 2015, NoPassword has been well-received and used by customers in various industries such as financial, insurance, healthcare, tech, retail, and manufacturing across the world.
What Makes NoPassword Unique?
According to the 2016 Verizon Cyber Security Report, 85% of data breaches are caused by stolen credentials, weak or default passwords, phishing, social engineering, and keyloggers that are all targeting passwords.
Since NoPassword eliminates the storage of credentials such as password and biometric on a centralized database and does not require users to manually enter any credentials, it protects online resources against all those types of attacks. In addition, 90% of all cyber attacks in the U.S. are triggered from outside the country and almost all of them are coming from outside companies’ premises. Leveraging smartphones to be able to limit the user’s access to certain geo-location can potentially eliminate a significant portion of cyber threats. NoPassword is not a password manager and it does not hide all of user’s passwords behind a master password.
NoPassword replaces passwords with Human (biometrics and behavioural) and Hidden frictionless MFA. As technology advances and use of digital products expands, passwords, an ancient method that was once used by our ancestors to enter caves are not able to protect us in today’s world of digital transformation. Instead, our devices are becoming smarter every day and are equipped with a variety and more accurate sensors, which can be leveraged to authenticate users. The NoPassword platform allows organizations of all sizes to leverage these sensors for authenticating users based on their biometrics and behaviour. To respect user privacy, users own their data and are able to protect them with NoPassword solution.
While security and convenience are the two main pillars of NoPassword, privacy by design is an important third pillar and a unique aspect of NoPassword solution. Users always own their biometric and other sensitive information, and while NoPassword and organization are able to utilize this information, they are NOT able to store, access, or own it.
Yaser Masoudnia, CEO and Co-Founder
is a serial entrepreneur with extensive experience in cyber security and FinTech, working closely with multinational corporations, especially financial institutions. Prior to WiActs, Yaser worked at several international firms, leading product and business development efforts. Yaser received his PhD from Cranfield University in the United Kingdom and worked at MIT as a Research Associate, helping several lab projects launch the business out of the lab.
Bam Azizi, CTO and Co-Founder
is a cyber-security veteran and data scientists with over 10 years experience in cyber-security and artificial intelligence. Bam holds a PhD from Technical University of Munich. Prior to co-founding WiActs, Bam held a research position at Johns Hopkins University where he executed several experiments as a white-hat hacker. He started his career as a software developer and architect, he is an expert in leading software development teams to rapidly utilize emerging technologies.