An online security key developed by Yubico is being used across a wide range of applications and by companies as high profile as Facebook and Google. The Yubikey is a physical device that can protect people from falling victim to online hackers looking to obtain login details for email and social media accounts.
Cyber attacks are on the rise and are now the number one crime in England and Wales. They are also becoming a real threat to UK businesses too, costing an estimated £30bn. However, this can be prevented with a device costing less than £20.
The Yubikey is a small USB-style stick that enables users to employ a process known as Two-Factor-Authentication (2FA). This involves users using both their password and the physical Yubikey to secure logins to sites such as Facebook, Youtube and other popular services. The combination of using passwords and the Yubikey prevents hackers from accessing your account. Even if credentials were to become compromised, the hacker would still need the user’s physical YubiKey to gain access to their accounts.
iBanFirst is just one company that has forged a partnership with Yubico, as part of its commitment to provide high levels of security for Banking-as-a Service (BaaS). Businesses, entrepreneurs and all users of iBanFirst BaaS, can now protect their accounts using YubiKey two-factor authentication. This integration expands the iBanFirst BaaS product range, giving business leaders a secure and economical environment in which to carry out every day financial operations.
YubiKey is used by millions of people spread across 160 countries, distributed in France with Full IP Solutions. The flagship YubiKey 4 is a multi-protocol authentication device that supports Yubico OTP, OATH, FIDO Universal 2nd Factor (U2F), OpenPGP and PIV smart card functions.
With the new IbanFirst integration, a user logs into their account with their username and password before being prompted to insert and touch their YubiKey USB device, which provides a second factor to secure account access, at a tap or touch to authenticate users.
“We are dedicated to helping entrepreneurs focus completely on developing their business activities, while also providing the best possible user experience”, explained Pierre-Antoine Dusoulier, CEO and founder of IbanFirst. “Since security is so strategic to our business, it was vital for us to incorporate the highest possible level of security into the IbanFirst services range. With the YubiKey, our users can now have complete peace of mind when carrying out all their financial operations”.
“The YubiKey secures access to a wide range of consumer and enterprise applications”, said Stina Ehrensvard, CEO and Founder, Yubico. “User name and password alone is not enough, now IbanFirst’s clients will be able to discover the high level of security, and ease of use of the YubiKey to keep their accounts safe.”