BankVault offers a passwordless authentication solution using a Decentralized Web Protocol that enables seamless, secure access to web login portals without requiring user software or backend changes. This technology eliminates the risk of credential interception and reduces login abandonment by providing multi-factor authentication in a single step.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional multi-factor authentication methods often introduce friction for users, requiring multiple steps and potentially leading to login abandonment. Existing systems are also vulnerable to credential interception and device-based attacks, compromising account security.
Solution
BankVault offers a passwordless authentication solution based on a Decentralized Web Protocol, providing secure and seamless access to web login portals. The system leverages a mobile phone's unique characteristics to deliver multi-factor authentication in a single step, without requiring any user software or backend changes. An encrypted invisible keyboard captures user credentials, which are then retrieved and deciphered only when the original triangulation is initiated by the user's mobile device. This approach eliminates the attack surface on user devices and prevents credential interception, enhancing security and reducing login abandonment.
Target Audience
The primary target audience includes enterprises and small businesses seeking to enhance their web security and streamline user authentication, as well as SaaS platforms looking to improve customer acquisition and engagement.
Features
- Passwordless authentication using a Decentralized Web Protocol
- Multi-factor authentication (up to 5FA) in a single step
- Encrypted invisible keyboard to capture or generate credentials
- No user software or setup required
- No backend system changes needed for deployment
- FIDO2/WebAuthn compliant
- Supports Zero-Trust networks and devices
- Protection against keyloggers and Man-in-the-Browser attacks