Keep hackers from getting your fingerprints
If your account gets hacked, the first thing you’ll probably do is reset your password, maybe change your security settings, and proceed to use the account/ app again. But what if hackers get their hands on your fingerprint, iris or other biometric data? You can’t just change your fingerprints or eyes. This is the problem a New York City startup called HYPR Corp. has been working on. The company has developed cybersecurity solutions to protect biometric data so that it can be used safely instead of alphanumeric passwords.
According to its CEO George Avetisov, HYPR decentralizes and encrypts biometric data, making it a pain for hackers to get it. With HYPR, a user’s fingerprint, facial traits, or other biometric data is temporarily stored on their mobile device. HYPR encrypts this data, so it never leaves their tablet or phone directly. Let’s say, if a bank requires a user to scan their iris before they can make a transfer, HYPR sends the bank a token verifying the user’s identity for just that instance, so the bank doesn’t need to receive any actual scan of the customer’s eye.
HYPR has closed a $3 million seed round to make its cybersecurity products known within and beyond financial services. HYPR’s CEO said the company sees demand for biometric security in every industry from banking to automotive and consumer electronics today.