Ping says the acquisition of ShoCard marks a significant step towards its vision of providing users with more control over their privacy while reducing fraud and streamlining user interactions with companies.
“With the adoption of this new technology, Ping Identity is paving the way for a new era in identity where individuals have more control over their personal information and how and when it is shared. The technology allows individuals to collect verification of their identity and share it with businesses when establishing new relationships in a privacy-first user experience,” Ping said in a statement on Thursday.
“ShoCard leverages the power of today’s mobile phones as a personal identity vault. Through integration with the Ping Intelligent Identity Platform which secures over 2 billion accounts, ShoCard allows users to collect and store personal identity information on their phone and then unlock and share that information using facial or fingerprint biometrics.
“The technology will be integrated into the Ping Platform and made available to all Ping customers as a new model for privacy and customer engagement.”
“Personal identity is the next wave of the identity security evolution, representing a boon for business and consumers alike,” said Andre Durand, CEO, Ping Identity.
“Under this model, businesses can avoid storing sensitive data and the risks that come along with it, while customers can avoid sharing unnecessary personal information with service providers, ultimately creating a more trusted online experience.
“Issues of privacy and mistrust are addressed when individuals can pick and choose what personal information to share with organisations to validate a fact about themselves. ShoCard’s best-in-class technology allows Ping to greatly accelerate our mission of creating a personal identity future.”
“The success of any future-proof identity solution rests on its ability to remove friction, deliver a seamless user experience, strengthen security and privacy protocols, and offer ownership and control to the end user,” said Armin Ebrahimi, founder of ShoCard and head of distributed identity at Ping Identity.
“This has been our vision since day one at ShoCard. And now, as an integral part of Ping Identity’s trusted brand that touches over two billion users, we can make this vision a reality.”
Ping Identity says it will be rolling out new solutions that further its personal identity model in coming months.