Headed up by former Gridsure chairman Jonathan Craymer, pin+, the company, will officially launch at the Infosecurity Europe show next month, when it will be promoting its authenticated pattern-based technology, which is also called pin+.
The security technology takes what the company calls a matrix-pattern authentication (MPA) approach to securing logins, which involves the use of a 6x6 pattern matrix to generate a one-time code that consists of the numbers 1 to 6.
This 6x6x6x6 approach, says the firm, is a constant and, coupled with a trade-marked shield-shaped grid appearing on users' computers or terminals, aims to offer an instantly recognisable form of authentication.
Craymer told Infosecurity that pin+ will initially be offered as an authentication security system to companies and partners in the UK, but plans are also in hand for the pin+ shield to be marketed internationally.
"I'm very excited by this technology. Biometrics has yet to take off and it’s clear that the password system of authentication is no longer sufficiently secure against hackers", he said.
pin+, he went on to say, will be marketed into four main areas – the public, as a security system; technical users; systems integrators, and corporates.
Products and services, he explained, will be developed for each sector of the market. At Infosecurity Europe, the plan is to launch a boxed version of pin+ to be offered as an authentication service to corporates.
There are also longer-term plans, says Craymer, to develop a version of pin+ for use on securing smartphones.
Key features of pin+, he added, include a consistent standardised look and feel across all platforms and applications, as well as true one-time codes and an option for static PINs, where required.
Craymer says that he and his team have taken a good basic concept - an IPR from a third party - and refined it for real-world use, in a way no-one has done before.
"Our aim is to do what successful brands like McDonald's and Visa/MasterCard have done, respectively, for roadside fast food and credit cards. By introducing a standard 6X6 pin+ shield matrix, we're going to give users a feeling of comfort and familiarity, as well as the essential ability to transfer secret patterns from one platform/system to another", he said.
"As for mathematical strength, the Winfrasoft patent-applied-for system which powers pin+ offers no less than 2.1 billion pattern combinations - compared to only 390,625 from 5X5/4-digit code systems", he added.
"This arguably makes pin+ over five and a half thousand times (5,572) times stronger than such a format."