SOURCE: TextPower

TextPower

December 18, 2013 06:00 ET

TextPower Applauds Criticism of "Traditional" SMS for Authentication in New Report

Company's New Approach to SMS-Authentication Can't Be Compromised

SAN JUAN CAPISTRANO, CA--(Marketwired - Dec 18, 2013) -  Commenting on new research that sternly warns the industry "Do not rely on SMS-based authentication; it has been thoroughly compromised," TextPower, a leader in innovative text messaging software solutions, agrees with the findings that highlight the critical need for new SMS authentication technology.

According to FierceCIO, the NSS Labs report, "View from the Precipice: Mobile Financial Malware," outlines how the popularity of mobile banking has led cybercriminals to target users. As a result, specialized malware now exists that specifically targets smartphones to steal the requisite two-factor passcodes that banks deliver by means of text messages.

"We aren't surprised by the results of NSS Labs' research. All current SMS authentication services that send an authentication code via text message to a user's phone are subject to hacking. We've reversed the process and by doing so have created a far more secure method," explained Scott Goldman, CEO, TextPower.

The findings from NSS Labs support TextPower's approach. The company's patent-pending TextKey™ product achieves industrial-strength security by having the user send the code from their phone instead of receiving it. This next-generation two-factor authentication (2FA) defends mobile devices and web sites from attack more securely than other method because it completely circumvents any SMS "hostage" malware (code that takes over the SMS app on the phone) and eliminates "man-in-the-middle" or "man-in-the-browser" attacks. An added benefit of this reversed approach is a simplified installation and management process.

"We've completely eliminated the vulnerabilities that compromise existing SMS authentication methods. TextKey is the only two-factor authentication service that works by using your cell phone's "fingerprint" -- its unique device identifier -- for verification. Nobody else can do it this way," said Goldman.

For more on the NSS Labs report, see https://nsslabs.com/reports/view-precipice-mobile-financial-malware.

For more on TextKey, see www.textpower.com/textkey

About TextPower, Inc.
TextPower, Inc. provides alerting and authentication solutions to a variety of industries worldwide using text messaging (SMS). The company's software and text messaging services help companies enhance their revenues, decrease costs and improve customer service. TextPower's authentication product, TextKey™, replaces the token or security fob previously needed to verify the identity of online users for password-protected applications. TextPower's mission-critical infrastructure employs geo-redundancy for the industry's highest reliability, providing delivery to virtually every cell phone in the United States and connections to most recognized wireless operators around the world. Visit http://www.TextPower.com, email Info@TextPower.com or call 888.818.1808 for more information.

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