Ping Identity, the intelligent identity solution for the enterprise, announced early access to PingOne Neo™, a multi-standards decentralized identity management solution. Neo improves data security, privacy, and control for individuals while reducing resource and compliance burdens for enterprises.
Many digital services require verified information about people to do business. Neo simplifies getting verified information from a trusted source via verifiable credentials, whether that source is inside or outside of the organization. Organizations can now verify without complex, expensive back-end integrations that increase each organization’s attack surface. Neo reduces the possibility of identity theft for individuals and improves security for organizations by instantly establishing trust with individuals based on their digital credentials.
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“Organizations spend significant time and money obtaining and verifying information from customers and employees, then attempt to determine access, entitlements, and authorizations to remain secure and compliant,” said Andre Durand, CEO and founder of Ping Identity. “Neo eliminates the manual resource burden from businesses while empowering individuals with their own data, reducing threats of fraud or identity theft while increasing privacy.”
Decentralized identity reduces the possibility of transaction fraud and account takeovers by helping ensure the person behind the credential is who they claim. With Neo, a person requests a verifiable credential from an organization that is cryptographically signed and verifiable. The verifiable credential is then added to the person’s digital wallet and can be shared with the business that requires it. The individual is in complete control of what information gets shared.
PingOne Neo is a component of an open and interoperable platform that supports popular decentralized and other identity standards from the World Wide Web Consortium (W3C), the OpenID Foundation, and the International Organization for Standardization (ISO). Ping Identity is also a key contributor to the Open Wallet Foundation Initiative (OWF) which supports interoperability between digital wallets through open-source software.
SOURCE: PR Newswire