Cyber security & cryptography
Johannesburg, South Africa, 03 February 2021: Chenosis, Africa’s Application Programming Interface (API) marketplace powered by MTN has launched Chenosis Key to provide two-factor authentication, password-less login and secure authorisation which developers will be able to build into their applications.
Key is an ideal solution against the backdrop of rising financial fraud, cyber-attacks and use of digital payments especially in sectors like e-health and financial services where customers and employees are privy to sensitive information.
According to Ngoni Simelane, Chenosis Go-To-Market General Manager, “The cybersecurity landscape is ever-evolving as hackers are continuously looking for vulnerabilities to profit from. One of the most frequent is password theft with hackers employing methods like keylogging, phishing and email spoofing. Developers can use Key to deploy a security strategy that protects their solutions and apps, thwart any attempts to compromise sensitive information and keeps control in the hands of their users and employees all the time.”
As users look to the future, they are beginning to demand of companies and service providers that they up their security ante with authentication that is both secure and easy to use.
The latest Atlas VPN research paints a scary picture of cybercrime valuing online criminal activity at $1.5 trillion, three times Walmart’s 2019 revenue of $514 billion. A staggering $500 billion of this is made from theft of intellectual property and trade secrets while data trading earns cyber criminals in excess of $160 billion. The stolen data is put on sale on the dark web where one can buy anything from credit card details to a person’s birth date or address.
“Simply put, two-factor authentication makes it significantly harder for anyone trying to steal your personal information or access a protected service. It might well become the new normal as single factor authentication methods have proven to be flawed. With Chenosis Key developers can quickly integrate a reliable and robust authentication measure into their solutions to minimise risks of harmful cyberattacks,” adds Simelane.
According to the 2019 FBI Internet Crime Report, hackers are focusing on the human layer errors more than ever. Data breaches will be a fact of life for as long as people continue to depend on single factor authentication like passwords. Worsening it is also the propensity of users to use the same password across emails, banking and even gaming.
“For developers building solutions for data sensitive organisations, Chenosis Key presents a rare opportunity to fast track product development at a fraction of the cost – mission critical parameters in the post pandemic era. Better still, Key is available on the Chenosis API marketplace where developers can also test other APIs to enhance their solutions,” says Simelane in conclusion.
Developers can try out Chenosis Key for free, for up to three months on the Chenosis API Marketplace by subscribing to a qualifying plan*
*Terms and conditions apply. Offer is subject to a fair use policy.