TSI Receives Notice of Allowance for Cybersecurity Patent to Secure Mobile Device Data and Transactions Using Biometrics and Cryptography with a Local Template
December 1, 2015 – Odenton, MD – Transaction Security, Inc. announced today that it has received Notice of Allowance of a crucially important patent as a Continuation-in-Part to US Patent 8,842,887, which protects user data and communications, including secure device/cloud communications, and secure transactions on mobile devices. TSI Founder and patent co-author, Rod Beatson, believes it will significantly improve the security of data stored on the devices and protect user privacy, whilst enabling the data to be recovered by the user/enterprise in the event of loss or theft. It will provide greater user convenience, through eliminating the need to enter and remember complex passwords and reduce card payment and ID fraud associated with mobile payments and chip card transactions. He explained that Transaction Security has been building its Crypto-Sign® Intellectual Property portfolio now for a number of years to enable enterprises to build low-cost, user-friendly, highly secure protection for mobile devices, their data and associated transactions with the aid of biometrics and cryptography
In making the announcement, Beatson commented “There has been much publicity recently from Samsung, PayPal, Apple, Google, Retailers and Credit Card Issuers with regard to the use of mobile device and chip card biometrics in payment systems and for general transaction security and, in addition, Microsoft has recently announced that it is aiming to create a password-free World.TSI was preparing for these developments several years ago and the patent is the result of the TSI team’s vision.” Explaining the importance of the patent he said, “It’s all about using a biometric sensor on the device to protect access to the device and its data in the event of loss or theft; to enable highly secure PKI-based communications and to encrypt device data - all without the need to enter complex passwords. The Continuation-in-Part adds coverage for Chip Card and ASIC-based solutions.”
Beatson added “…the application, originally published as US Publication 2014/0365782 has been amended so that the claims better represent the specification. It uses a local, encrypted template and a previously entered complex password to achieve this and eliminates the need for users to re-enter the password for future transactions. The security can be enhanced significantly with the entry of a user-selected simple PIN. There are systems in place today that purport to accomplish this level of security but the increasing rate of highly publicized data thefts have shown them to be ineffective. We believe our solution is user friendly, highly secure and can be easily implemented – at very low cost. In addition, since the biometric data is stored in secure encrypted form only on the device, it significantly enhances user privacy and provides the enterprise with the ability, if necessary, to recover the device data in the event of loss or theft. Commenting further he explained “We believe that our improved methodology can be used to provide a trusted relationship between user, device, and server whether local, remote or cloud-based. In addition, it provides the opportunity to release user credentials, like an authentic electronic signature with an ink-on-paper look, directly from the device to relying parties.” “The patented method achieves all this, while, at the same time relieving the user of the need to enter and remember complex passwords.” he added
Mark Kelty, Board Director, co-author of the patent and TSI’s Software developer, explained, “I have worked with Rod for a number of years now on developing these processes and we are excited about the potential it offers for the expanded role of mobile devices and for the reduction in fraud."
Glen Gulyas, Board Director, who works with Strategic Partners added “Our first prototype application for user authentication of Windows-based devices was originally beta-tested by Microsoft, who believed it would be very valuable to their OEM’s.” “Later versions were also evaluated positively by HP, Dell, AT&T, the FAA and others”, he added. “Also,TSI and our partner, 20/20 Ventures, LLC, jointly hold a patent for applying automatic signature verification to authorize POS transactions. Together, these patents can significantly reduce the billions of dollars lost in fraud associated with ID theft caused by data breaches and save payment card issuers, banks and consumers lots of money. This is a biometric solution without the normal pains associated with implementing one. We have been consistently early in anticipating the market but now we see the need for this technology exploding.”
As a final comment, Beatson added “Our current objective is to move these patent-protected Crypto-Sign processes into the mainstream marketplace and we are seeking strategic partners to help us accomplish this”.