MIRACL, developer of specialist ID verification provisions for highly regulated markets has announced the launch of its purpose-built ‘MIRACL-Trust’, customer authentication solution for online gambling incumbents.
The update sees MIRACL, who have developed multi-layered authentication solutions for financial services firms Credit Agricole and Experian, launch its first module for the online gambling sector – with the company detailing that it seeks to challenge ‘increasingly out-dated concept of passwords and stored credentials’.
Launching its Trust solution, MIRACL details that it has delivered online gambling a ‘Zero-Knowledge Proof ID protocol, developed by combining military cryptography algorithms with 7-patents.
Benefits delivered for industry stakeholders see the MIRACL Trust solution hold no stored user data, with customers utilising a standard 4-6 digit pin to access authorised domains – which sees MIRACL minimise cybersecurity threats and user data liabilities.
Rob Griffin, CEO of MIRACL explains, “Everyone hates usernames and passwords; users and operators alike. They represent the single biggest threat to safe online gaming and need to be replaced immediately. “
Leading MIRACL, Griffin underlines that the firm’s development team has built the Trust solution customised to meet the diverse KYC and duty-of-care requirements enforced on gambling incumbents, which has seen all operators make undertake operational adjustments during the course of 2019.
The multi-factor authentication solution operates in-app and cross-platform keeping user experience on a consistent basis by providing ‘binary proof‘ that a customer has given user consent to authorised gaming devices.
“During the last year, the body of usernames and passwords that is for sale on the dark web has ballooned so things have reached a tipping point that has rendered them no longer fit for purpose in a real-money gaming environment with growing regulatory pressure and fraud considerations.” Rob Griffin adds.
“It is time to re-evaluate. MIRACL Trust enables secure log-in and transactions across browser or app, mobile or desktop with a 4 digit PIN, supported by patent-awarded IP that enables the most secure multi-factor authentication on the market. It’s a world-first and a concept that I believe is a no-brainer for the highly active online gaming sector.”