Protect legacy systems with advanced MFA
Account takeover (ATO) is a hot topic right now and even bigger problem for businesses. We’ve all heard how usernames and passwords are insufficient protection against a growing number of threats. And we’ve heard about high-profile security breaches against well-known brands, but not all attacks make the 6:00 news. We hardly ever hear about security breaches that occur every day at small and midsize businesses that are the backbone of the U.S. economy.
Most ATOs are integrated cyberattacks aimed at stealing user credentials. Attackers use log-in information to take over accounts and steal funds and data. This information is sold on the dark web and phishing and malware kits. Once armed with an individual’s identity and password, criminals can shop with stolen credit cards, transfer gift card balances and create fake accounts.
MFA is not enough
Security analysts advise us to protect our usernames and passwords when we transact online with multifactor authentication (MFA). It’s worth noting, however, that numerous MFA solutions are phishable and not strong enough to protect against hackers.
Lack of viable authentication methods create opportunities for hackers, who use a variety of attacks to take over user accounts. These attacks disrupt businesses and cause revenue losses, customer attrition and reputational risks, despite business owners’ massive investments in cybersecurity insurance, with ever-increasing premiums due to past data breach liabilities.
Unique SSO, IAM
At Rainbow Secure, our mission is to protect fintechs and financial institutions by solving
Single Sign-on (SSO) and Identity and Access management (IAM) challenges facing fintech and banks today. Rainbow Secure provides next-generation, multilayered graphical security solutions, data privacy, and the flexibility needed to manage a hybrid workforce and diverse customer base, enabling our partners to grow and scale with minimal effort or risk.
Rainbow Secure, a Microsoft ISV partner supported by a trusted Azure Platform, employs an experienced team of cloud and security engineers and developers, whose proven expertise and award-winning, patented technology solutions will help secure your organization’s workflows.
Solving for ATOs and other threats
Hybrid work environments, which became prevalent during the pandemic, have increased cyberattacks by 300 percent. With a growing population of cloud-based and SaaS applications to manage, IT teams struggle to enforce security best practices across fragmented workplace environments comprised of private homes, shared workspaces and secure office facilities. Across these disparate workplace environments, individual users are also struggling to create strong passwords for the more than 30 apps and services they use every day.
Rainbow Secure’s cloud-based, multilayered Single Sign-on solutions and IAM platform adds security layers by using colors, font styles, and location and access context to protect identity and data access wherever users happen to be working. These solutions are backed by AI monitoring, risk analytics and threat alerts to protect systems 24/7.
Agility is just a start
Agility wins in the fast-moving world of financial services, but fraudsters and cybercriminals are also very fast at deploying large-scale attacks against fintechs, banks and businesses, which makes it even more critical to protect your employees and customers and their personal data.
Rainbow Secure improves user authentication with multilayered security designed to give users a fast and highly secure way to log in without following complex password rules. Organizations and individuals are free to personalize their passwords to make their logins unique and strong.
Our solutions will prevent ATOs and automated bot attacks while eliminating cyber liabilities from past password breaches and demonstrating compliance with NIST, CMMC, CMMI, ISO, HIPPA and other industry regulations.