Pylones, iCrypto partner to secure companies against cyber fraud

Issued by iCrypto
Athens, 05 Mar 2019

Pylones Hellas and iCrypto are partnering for the strategic expansion of iCrypto's identity and access management solutions in Greece, Cyprus and across broader geographical areas in the region.

Digital transformation initiatives play an increasingly critical role in customer and partner engagements as companies digitise transactional and operational business processes. Digitisation, however, has also led to a dramatic increase in cyber fraud. According to an Accenture report, in 2018 the financial services industry alone took in the highest cost from cyber crime at an average loss of $18.3 million per company surveyed^1.

iCrypto helps companies minimise fraud risks across all digital touchpoints, engagements and transactions, thus protecting customers and business partners in the company's ecosystem. iCrypto's solutions include verifying a participant's true identity with simple yet secure steps from their mobile devices. This identity-vetting process generates a digital token for each participant that is used to verify their transactions within enterprise applications and workflows. iCrypto ensures true identity traceability across all digital interactions which enables companies to build trust with customers and partners.

"Fraud and identity theft occur every three seconds," said Dr Vasilis Polychronidis, CEO of iCrypto. "We made it our mission to develop a better way to secure human-computer interaction than what was currently present. The team got to work and, in 2014, we found an innovative way to address this industry-wide challenge."

The iCrypto technology is compatible with all transaction types that take place between users (employees, customers, partners) and IT applications. It also works seamlessly across a company's partner ecosystem, delivering impact and efficiency to the company and its end-customers.

iCrypto's technology enables integration across a multitude of systems, including legacy platforms and partner ecosystems, and ensures frictionless security in workflows and transactions between all participants.

Emmanuel Netos, Pylones Hellas General Manager, said: "With iCrypto, we finally know who is really behind digital engagement and transaction with a service or application such as financial applications. Companies have the need for the fast, accurate and easy true identification of their customers. Relevant use cases can be found in the insurance industry, healthcare, telecom, education and government sectors, to name a few. iCrypto provided us with an agile, standards-compliant identity and access control platform that can cater for our customers' ever evolving digitalisation requirements."

1 Cost of Cyber Crime: Financial Services. (2018, February), Accenture and Ponemon Institute

Pylones Hellas

Pylones Hellas is a leading company in the Greek ITC market. Since its establishment in 1997, Pylones has strategically focused on meeting the needs of modernising private sector infrastructure. Moving steadily and carefully, the company succeeded in forming one of the largest IT, communications and security systems integrators in Greece. Pylones is active in a wide range of areas of expertise such as IT infrastructure design and implementation, network infrastructure and telecom solutions, IT security (applications, networks, data and IT infrastructure), professional services and technical support for all ITC systems on a 24-hour basis.

iCrypto

iCrypto enables organisations to eliminate risks such as identity theft, access breaches, data breaches, ransom attacks and more, while enforcing compliance through a low-friction, patented, mobile-centric technology leveraging device/network biometrics and tokenised identity.

Providing a true biometrically tied identity of participants in any workflow, and being able to hold them accountable, is key to ensuring trust and creating certainty of who is authorised to access or transact in an ever-evolving digital world.

iCrypto provides a scalable and customisable, SaaS solution with capabilities including ID aggregation, strong mobile-centric (biometric) authentication, verifications, authorisations and attestations (immutable audit trails) across the organisation. Thus, it enables all-around accountability, governance and audit compliance, non-repudiation, increased productivity and profitability.

Its current business engagements span North America, South America, Africa, Europe and the Middle East.

iCrypto is in the business of helping companies elevate trust among all participants, speeding up transactions and driving profitability and revenue assurance, all in a frictionless, intuitive, mobile-centric user experience.

iCrypto did not invent identity and access management, we just made it better.

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