ROCHESTER, N.Y.--(BUSINESS WIRE)-- Token, a revolutionary provider of secure, wearable authentication solutions, today announced that its biometric smart ring for authentication has earned the New Product of the Year award from Security Today. The annual Security Today New Product of the Year program recognizes outstanding product development achievements of cybersecurity solutions that they deem particularly noteworthy in their ability to improve security.
Security Today selected Token’s smart ring as the winning Authentication/Identification/Credentialing and Management entry for its ability to protect user credentials from being stolen or compromised and the smart ring’s outstanding user experience. It is the only authentication device that completely protects user credentials from hacking, prevents biometric information from being stolen, and greatly simplifies the login experience for end users.
“The destructive consequences of ransomware and data breach continues to rise with the number of ransomware victims doubling every year and losses skyrocketing to more than $1M per incident,” said Token CEO John Gunn. “Organizations are desperate for protection and current solutions are not getting the job done. We integrate every IAM solution in the market and provide almost-instant protection with minimal implementation effort.”
Ransomware has become one of the greatest risks to all organizations today. Compromised user credentials from phishing and social engineering continue to be the root cause of most data breaches and ransomware attacks and Token’s smart ring is the only solution to offer complete protection against these types of attacks.
“We are fortunate to have so many entries and applaud every entry for the ingenuity and painstaking efforts to ensure the security business is meeting the technology challenges,” said Ralph C. Jensen, editor in chief of Security Today magazine. “New Product of the Year confirms to me that the best and the brightest are completely invested in their craft and have strategic plans to bring new technology to the forefront.”