The recent security breach at Lockheed Martin as a result of the hack on security tokens highlights the inherent security risk with the use of hardware tokens as authentication devices.
This is the opinion of Schalk Nolte, CEO of Entersect Technologies, who says: “The days of using offline tokens to secure access to data are long gone.
“When these devices are compromised, it’s impossible to communicate to them in order to rectify the breach. This is why we are focused on using the mobile phone as the token which allows secure communication to and from the device.”
Entersect Technologies, which is based in Stellenbosch, South Africa, has developed an authentication platform that uses a patented mobile two-factor authentication system using bi-directional out-of-band data transmission.
The company is developing customised solutions for a number of South African financial institutions.