swIDch
Reshaping IoT Security with Agile Authentication

SwIDch is a leading authentication company revolutionising identity access management. Its proprietary one-time authentication code (OTAC) technology brings secure authentication to every digital identity, even in the off-the-network environment.

OTAC eliminates the need for traditional password-based authentication, which can be vulnerable to hacking and other security threats. Instead, it combines user identification and authentication steps into one dynamic, randomised code, generated locally on a client device, making it much harder for unauthorised users to gain access. In addition, since OTAC generates dynamic authentication codes in a network-less environment, it makes the process secure, instantaneous, and hassle-free.

“With our single-step OTAC technology, we intend to solve three main problems; static information, multiple steps for authentication, and heavy reliance on networks,” says Declan Sharpe, chief commercial officer of swIDch.

OTAC is a versatile solution that can be used in different ways depending on the organisation’s needs. It can be accessed either through a mobile phone application or an applet embedded in the IC chip of a physical card. Alternatively, the OTAC code can be presented in different ways, such as a strong password, a QR code, or a virtual credit card number. This high level of configurability and adaptability makes it an ideal solution across a wide range of industries and applications. Whether for payment processing, access control, or any other scenario where secure authentication is essential, OTAC technology can be tailored to fit the requirements of each use case.

The IoT industry can benefit immensely from the OTAC technology, as it demands a highly secure and reliable authentication solution to safeguard sensitive data and devices. OTAC sets a new standard for authentication in cybersecurity and eliminates the traditional authentication vulnerabilities using dynamic codes that cannot be duplicated or reused, providing a secure way of authenticating users and devices. This has made IoT platforms more reliable and efficient, allowing them to operate smoothly and provide a more seamless user experience.

swIDch also caters to other industries that rely on operational technology (OT) systems, including manufacturing, energy, and transportation. In the past, OT devices were often air-gapped and used basic access control mechanisms. However, with the advent of Industry 4.0, many of these devices have become networked, exposing the weaknesses of legacy authentication practices. OTAC is a lightweight solution that requires minimal CPU overhead, making it easy to deploy on existing infrastructure. This is especially useful for OT devices like programmable logic controllers (PLCs), which operate continuously and are difficult to replace. By leveraging OTAC technology, organisations can improve the security and reliability of their OT systems while minimising disruptions and downtime.
A testament to OTAC technology’s success is its work in the payment industry, where static credit card information is a big problem as it can be easily duplicated, leading to card-not-present fraud. Deploying OTAC, a virtual credit card can be generated and used, with randomised expiry and security numbers, avoiding the need to share static credit card information.

An example of OTAC’s success can be seen in its partnership with Toss Bank in Korea. They embedded the OTAC technology in the EMV chip of their payment cards, which generated a dynamic code. Users can simply tap the card with their phone, generating a secure code to authenticate transactions. Because the code is unique, it is much harder for someone else to steal, adding a new layer of security for high-value transactions.

Secure authentication is crucial in today’s digital world, where cyber threats are becoming more prevalent. swIDch’s commitment to bringing secure authentication to every digital identity is a step forward in improving the security and reliability of the digital space. A dynamic and secure approach to authentication has made swIDch a popular solution in various industries, from IoT to banking and beyond, expanding its reach to the global market.