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Frost & Sullivan honours FireID with Global Excellence Award


Johannesburg, 27 Oct 2010

FireID, a provider of world-class security applications for mobile authentication, has been awarded the 2010 World New Product Innovation Award by global growth consulting giant Frost & Sullivan.

The prestigious technology leadership award, which is presented annually, recognised FireID's accomplishments in the mobile one-time password (OTP) key authentication sector.

Founded just four years ago, FireID is a leading global player in the mobile strong authentication market, providing organisations with a simple, user-friendly solution for secure access to online applications and information.

The Frost & Sullivan Award for World New Product Innovation is part of the company's Best Practices Research, which determines how best-in-class companies worldwide manage growth, innovation and leadership. Based on the findings of this Best Practices Research, Frost & Sullivan awarded FireID the top honours in the category, evaluating the company's performance against key competitors for product innovation, leveraging of leading-edge technologies, value-added benefits and features, increased customer value, and customer acquisition/penetration potential.

“FireID's solution takes a new approach to the growing market for mobile authentication,” says Deborah Bensimon, Research Analyst for Information Security group at Frost & Sullivan. “FireID's solution offers more than simply turning a mobile phone into an authentication device from which to generate one-time passwords.”

Additional functionality is already built in, making FireID's solution particularly suitable for the developing authentication requirements of customers. Besides offline OTP generation, FireID's application includes automatic and secure mobile Web authentication, transaction verification and secure cloud access. Bensimon is also impressed with the provisioning process: “The provisioning server automatically detects the phone and pushes out a native-build application for each specific phone without any user intervention. This cuts down on helpdesk requests and makes token roll-out to end-users very easy to manage.”

FireID's Innovative Authentication Solution transforms a mobile phone into a security device generating on-demand secure OTPs and storing multiple tokens for strong authentication to any mobile or online application. This capability enables users to enjoy secure access to applications, as well as secure online purchases and transactions, from anywhere, at any time as the technology does not rely on cellular network connectivity or SMSes.

“We are honoured to receive the Frost and Sullivan Product Innovation Award and to be recognised as a leading innovator in the strong authentication market,” says FireID CEO Jenny Dugmore.

“Companies have realised the cost benefits of mobile OTP solutions and FireID is committed to providing our customers with the simplest mobile download, thereby reducing the customer service overhead and increasing customer experience. This is particularly relevant to enterprises serving a consumer market (such as financial services companies) where FireID offers an exceptional solution. FireID meets market demands for ease of integration, scalability and will constantly keep at the forefront of technological innovation in providing authentication solutions, which address the continuously changing security landscape.”

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FireID

FireID is a leading provider of mobile two-factor authentication. Founded in 2006, FireID has offices in South Africa, the US and UK with a broad international network of distributors and resellers. With increased transaction fraud and identity theft, strong authentication has become an essential component for any online or mobile application. FireID's world-class authentication solutions meet the growing authentication needs of corporations, government agencies and end-users who require highly secure and convenient online access to password protected accounts. For more information, visit http://www.fireid.com.

Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.awards.frost.com.

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