#Transmit security ceo code
#Transmit security ceo password

Organizations lose millions of dollars annually and place themselves and their customers at high risk due to password-based authentication that is inherently unsafe, delivers poor user experience, leaves customers unsatisfied and places brands at risk of jeopardizing their reputations. Research shows 55% of consumers stop using a website because the login process is too complex, while 87.5% find themselves locked out of an online account after too many failed login attempts. Even worse, 92% of consumers will completely abandon a website without completing a purchase instead of going through the steps to recover or reset login credentials. Outdated and ineffective password-based systems are costing businesses revenue, and Forrester reports the average help desk labor cost to reset a single password is more than $70.

#Transmit security ceo password

In addition to delivering poor user experiences and costing brands millions of dollars in revenue, password breaches pose a major threat to data security.

Weak passwords account for more than 80% of all data breaches and are the result of the majority of all account takeovers. Using biometric authentication, Transmit Security provides the first natively passwordless identity and risk management solution to the largest brands in the world. Transmit Security’s mission is to enable organizations to deliver advanced identity use cases that improve the user experience, enhance security, and satisfy compliance requirements at a fraction of the time and cost of traditional identity solutions. “Passwordless authentication is so much more than ensuring customers can easily and seamlessly access their information, their accounts and make purchases – it’s about revolutionizing the way companies interact with their customers. By eliminating passwords, businesses can immediately reduce churn and cart abandonment and provide superior security for personal data,” said Transmit Security CEO and Co-Founder Mickey Boodaei. With this latest round of funding from premier partners, we can significantly expand our reach to help rid the world of passwords.” “Our customers, whether they are in the retail, banking, financial, telecommunications or automotive sectors, understand that providing an optimized identity experience is a multimillion dollar challenge. “Every time I see a login button on a website, I get anxious.

#Transmit security ceo code

Whenever an app texts me a code that I have to enter, I become frustrated with the process. We’ve all learned to suffer and accept the terrible user experience and poor security that comes with passwords just because that’s the way it has always worked in the past,” said Rakesh Loonkar, President and Co-Founder, Transmit Security.

The fact that we have raised a record amount of funding is a clear indication that the world is ready to eliminate passwords and embrace biometric authentication technology so that they can deliver enhanced user experiences combined with significantly heightened levels of security.” “Transmit Security is offering application owners a new reality: The ability to go passwordless no matter the size of their organization or number of users.

“We have been watching the growth of Transmit Security for some time, and are deeply impressed by the leadership and passion Mickey and Rakesh have demonstrated as they take identity management to a new level. “We are thrilled to welcome the Transmit Security team to the Insight family as we focus our investments on creating a passwordless world.” Their groundbreaking technology, entrepreneurial spirit and deep expertise is precisely what this industry needs at this moment,” said Matt Gatto, Managing Director at Insight Partners.