Company’s BlockID Platform creates a verified digital identity that can be reused with both the issuing organization and other third parties
EAST BRUNSWICK, N.J., Feb. 21, 2023 – 1Kosmos, the only company that unifies identity proofing and passwordless authentication, today announced it was named an overall, product and innovation leader by KuppingerCole Analysts AG in their recent Leadership Compass Report on Reusable Verified Identity platforms for 2023. According to industry estimates, the global market size for reusable identity will reach USD 266.5 billion by 2027, with a CAGR of 68.9%.
The report analyzes vendors that enable a verified identity to be reused outside of the context in which it was issued (with other organizations, product lines or when the user assumes another role) while maintaining high levels of assurance with minimal reverification or validation effort. This ranges from using the verified identity multiple times at the same organization to using the verified identity issued by one organization with another, completely independent organization.
A copy of the KuppingerCole report is available here.
“There is plenty of opportunity for innovation in this market segment. Binding a real-world identity to a digital credential in the most secure, user-friendly, and privacy-preserving method requires creativity and a willingness to change the status quo,” said Anne Bailey, Research Strategy Director for KuppingerCole. “Leading the innovation group is 1Kosmos, a pioneer in using decentralized identity credentials that carry a high level of assurance for both workforce IAM and CIAM use cases”.
“1Kosmos was named an overall, product and innovation leader because we provide the full suite of capabilities required for Reusable Identity including identity verification, onboarding, credential issuance, credential storage, and authentication within the BlockID platform,” said Hemen Vimadalal, CEO of 1Kosmos. “This unified approach delivers an entirely digital onboarding and authentication experience for consumer, workforce and government use cases.”
1Kosmos BlockID is a distributed digital identity platform that provides multi-factor passwordless authentication to help organizations establish with certainty the identity of individuals who are accessing their systems, applications, data and digital services. BlockID also provides organizations with secure, automated worker onboarding via self service identity proofing for convenient access to corporate applications, data and resources.
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1Kosmos enables passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in East Brunswick, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn.
Press ContactMarc Gendron
Marc Gendron PR for 1Kosmos