NEW YORK, Dec. 3, 2013 /PRNewswire/ -- Usernames and passwords are commonly used to secure personal and corporate accounts on public domains from unwarranted access. Yet, identity theft and corporate hacks are prevalent, because the current security methods being used can be easily spoofed. Today, biometrics veteran Hector Hoyos announced his new venture, Hoyos Labs, which aims to address and solve the issues of secure identity authentication. Hoyos Labs is a digital infrastructure security company with a research and development division operating from the Cambridge Innovation Center on the campus of the Massachusetts Institute of Technology.
The Company envisions a completely secured world, one in which online and offline identities can no longer be hacked or stolen. As such, Hoyos Labs developed an end-to-end solution for identity authentication, using biometrics as a part of the authentication process. Hoyos Labs has already received $10 million in funding.
Hoyos Labs' identity assertion products use a multi-biometric recognition system that includes the face, periocular region and iris to confirm one's identity. The technology leverages smartphones as biometrics acquisition devices (on the front-end), interacts with middleware and accesses the back-end before identity authentication. This system tackles the unmet needs in identity security, such as incorporating "liveness," which detects a real person from an image or video in a quick and easy-to-use manner.
While Hoyos is offering its own front-end biometric matching technology, a key differentiator for the Company is its ability to be "biometric agnostic," meaning that the Company's back-end technology can pair easily with any other biometric technology that's already on the market and make efficient use of the identity data generated by others and approved and matched by the Hoyos system.
The Company's systems can be used to authenticate and grant access to unlimited websites, systems, doors and vehicles, as well as anything that needs to be opened, closed, turned-on and turned-off – everything from your Facebook log-in to your online bank account and automobile. The only requirement is users' smartphones and the Hoyos technology.
"When participating in any form of online activity, from accessing social media channels to conducting financial transactions, people are extremely vulnerable to hacking and identity theft due to the flimsy nature of usernames, log-ins and passwords," said Hector Hoyos, CEO of Hoyos Labs. "At Hoyos Labs, we are fusing our digital infrastructure security solutions and our biometric identification technologies into consumer- and corporate-ready solutions that can be deployed on devices like mobile phones. This solution will provide benefits for consumers, as well as companies, and will lower and ultimately eradicate fraud and identity theft."
Hoyos Labs is currently led by Hector Hoyos, whose security and defense products have helped to protect lives and properties for decades. In addition to holding multiple patents, he also invented the HBOX and EyeSwipe biometrics identity authentication technologies and founded Global Rainmakers, Inc. (later renamed EyeLock Corp.).
With a global team of computer vision, big data and biometrics experts who have more than 100 years of combined experience, Hoyos Labs is equipped and devoted to productizing biometric-based identity authentication systems on its unique identity assertion platform, which will make usernames and passwords obsolete.
For more information on Hoyos Labs, leadership expertise and products, visit: www.hoyoslabs.com.
About Hoyos Labs
Hoyos Labs is a digital infrastructure security company with security, computer vision and biometrics and big data experts. The goal of Hoyos Labs is to develop and deploy enterprise and consumer identity assertion technology platforms that will conveniently and securely address the identity assertion challenges of today. Hoyos Labs currently has offices in New York, Boston, Bucharest (Romania) and Beijing (China).
SOURCE Hoyos Labs