HYPR Expands to Europe as Growing Demand for Password-less Solutions is Accelerated by GDPR and PSD2 Requirements
May 21, 2018, 09:07 ET
NEW YORK, May 21, 2018 /PRNewswire/ -- HYPR Corp., the leading provider of decentralized authentication for enterprises, announced today its expansion to the UK and EU, citing demand driven by GDPR and PSD2 regulatory requirements.
The New York-based firm already has large deployments in Europe, having secured millions of users worldwide. With major customers in the financial services and healthcare sectors including Mastercard and Vhi — Ireland's largest Health Insurer — the new London office solidifies HYPR's presence in the two financial capitals of the world. HYPR team leaders and industry veterans, Marc Ewin and Kevin Turner, will be leading the EMEA go-to-market initiative.
"We're seeing urgency from enterprises in Europe who view the new regulatory requirements not as a road block – but an opportunity to enhance security, privacy, and user experience," said George Avetisov, Chief Executive Officer of HYPR Corp. "Establishing a presence on both sides of the Atlantic allows HYPR to deliver on that urgency and speaks to the global momentum we are building, following our news of strategic investments from industry leaders like Samsung. I have no doubt that our EU team will execute and achieve great success in the region."
Demand for HYPR solutions is being accelerated by Europe's latest regulatory requirements. GDPR has shined a spotlight on the importance of how user data is stored, especially with regards to identity, user credentials and biometrics. HYPR's ability to decentralize credentials and enable secure password-less experiences has proven an attractive solution for GDPR-compliant user authentication.
With regards to PSD2 requirements for customer authentication, HYPR's decentralized approach focuses on eliminating credential reuse and accelerating transaction speeds. Having deployed secure biometric payments and transaction signatures for major financial institutions, HYPR helps enterprises achieve regulatory compliance while empowering a faster, more secure, mobile and online checkout experience.
"Bringing HYPR decentralized authentication to a critical market like the UK and Continental Europe with leaders like Marc and Kevin is invaluable to eliminating credential re-use, preventing breaches and securing millions of password-less experiences. Looking at the regulatory landscape, particularly in the EU with GDPR and PSD2, one could say regulators are mandating solutions like HYPR — and we are responding in kind," said Seth Robbins, Chief Revenue Officer, HYPR Corp.
"Kevin and I are excited to join the HYPR team and match the EMEA financial services market needs with our innovative and secure password-less solution. So many favorable conditions — regulatory, standards based, and technological — are aligned to make HYPR adoption assured. Aside from validation by Vhi, early interest here already shows great promise," said Marc Ewin, Vice President, EMEA, of HYPR Corp.
Marc Ewin joins HYPR Corp. with more than 20 years in cybersecurity software sales and building high-performing EMEA sales operations for disruptive startup technologies. Marc has been involved in successful IPO/acquisition outcomes for a number of startups including Axent Technologies, Securant Technologies, Cybertrust, and Fireglass. Kevin Turner joins the team with over 25 years in sales and engineering roles at Oracle, Sun Microsystems, RSA Security, and most recently Okta, where he built and directed the systems engineering operation in Europe. Kevin's career has allowed him to undertake a variety of responsibilities which require a strong combination of consultancy and technical depth.
"There is a pressing need to upgrade legacy identity and authentication platforms to prevent data breaches and to support modern digital services. This comes at a time when new EU regulations, GDPR and PSD2, mandate the use of strong customer authentication including the use of biometric technology," said Alan Goode, CEO and Chief Analyst with Goode Intelligence. "HYPR's entry into the UK market comes at an ideal time and I am confident that organizations in the UK and internationally will benefit from HYPR's innovative decentralized authentication platform."
About HYPR
HYPR is the leader in decentralized authentication with millions of users secured across the Fortune 500. Named a "Cool Vendor" by Gartner in 2017, HYPR is trusted by major enterprises such as Mastercard and Samsung to prevent breaches, eliminate fraud, and accelerate transaction speeds.
As enterprises transition to password-less experiences, they often store user credentials in a centralized repository. Centralized authentication creates a single point of failure targeted by hackers and has remained the #1 cause of major data breaches – until now.
The HYPR solution ensures that personal credentials always stay safely decentralized and encrypted on your users' devices. By eliminating the need for a centralized credential store, HYPR removes the target and minimizes your risk of a data breach. With HYPR, enterprises are changing the way millions of users experience secure, password-less access to our connected world.
Additional information is available at: https://www.hypr.com/
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SOURCE HYPR Corp.