Ping Identity, the intelligent identity solution for the enterprise, launched PingOne Neo, a multi-standards decentralised identity management solution. Neo improves data security, privacy and control for individuals while reducing resource and compliance burdens for enterprises.
Many digital services require verified information about people to do business. Neo simplifies getting verified information from a trusted source via verifiable credentials, whether that source is inside or outside of the organisation. Organisations can now verify without complex, expensive backend integrations that increase each organisation’s attack surface. Neo reduces the possibility of identity theft for individuals and improves security for organisations by instantly establishing trust with individuals based on their digital credentials.
“Organisations spend significant time and money obtaining and verifying information from customers and employees, then attempt to determine access, entitlements and authorisations to remain secure and compliant,” said Andre Durand, CEO and Founder of Ping Identity. “Neo eliminates the manual resource burden from businesses while empowering individuals with their own data, reducing threats of fraud or identity theft while increasing privacy.”
Decentralised identity reduces the possibility of transaction fraud and account takeovers by helping ensure the person behind the credential is who they claim. With Neo, a person requests a verifiable credential from an organisation that is cryptographically signed and verifiable. The verifiable credential is then added to the person’s digital wallet and can be shared with the business that requires it. The individual is in complete control of what information gets shared.
