We Believe in Miracl
Those who have followed the Moni Talks journey know we are committed to the security and protection of our users.
As we move toward the next major step in our development, in early 2023, Moni Talks has been developing partnerships to ensure we achieve our aims. We are forming business relationships with leading names in the #cryptocurrency and #blockchain industries to ensure our users are looked after.
We have now confirmed a partnership with MIRACL | The login you love , which delivers faster, better multi-factor authentication. The record-breaking #cryptographic technology of MIRACL will be deployed on Moni Talks to make signing in easier, quicker, and more secure.
A username and password have been the accepted way of signing in for decades. However, #passwords are vulnerable to attack and a weak point in protecting user security. In 2021, more than two billion passwords were leaked by hackers, exposing billions of ‘protected’ accounts to security risks.
To combat this, many businesses have introduced two-factor authentication, or #2FA. This improved security, by requiring you to verify your identity a second way, in addition to your password. This might be an SMS or special code, or a requirement to confirm your ID via a separate device. Security is enhanced, but at the cost of convenience for the user.
It is slow, cumbersome, and doesn’t always work. Codes time out, for example. Stats show that 10 to 15% of this type of login attempt fail. Plus, they can easily take around 40 seconds. Bear in mind that Google penalises websites that take more than 0.7 of a second to load because it equates to a poor user experience.
As Moni Talks looked at login solutions, we had to discount the simple password sign in due to the security concerns. While 2FA seems the way to go, it still raises security concerns and, most notably, creates a bad user experience. At Moni Talks, we want our UX to be standard setting from the moment you arrive on our platform, so that must include the login.
If we are requiring you to carry a secondary device and activate a special code in a restricted time, are we really honouring the Moni Talks commitment to improved UX? No.
We now have our solution; the single step multi-factor authentication (#MFA) tool provided by MIRACL.
Moni Talks has been aware of the MIRACL offering for some time and has been blown away by the reviews and stats it has produced. After Moni Talks Founder Brendan Beeken FInstSMM and I met MIRACL CCO Michael Tanaka and CEO Rob Griffin , we knew we had to work together.
There is a great deal of synergy between our businesses, with a commitment to user security, better UX, and absolute #transparency. Unlike many login solution providers, MIRACL publishes data on speeds and failure rates.
The MFA offered by MIRACL means our users will be able to access their accounts in 2.5 seconds –the fastest solution around – and we’ll see login success rates of 99.6%, which is unprecedented.
Our users won’t have to wade through a laborious 2FA process just to keep their account safe. And the MIRACL service works on all devices for all users. Even if you’re not hugely tech-savvy, getting into your account will be simple.
There’s no need for me to get into the details of how MIRACL works, so let’s keep it simple. Instead of having a password, you access your account with a simple four-digit PIN number. Developed from innovations in cryptography, the PIN solution offers enhanced security and faster MFA within a single browser or app on a single device.
MIRACL does not store security related information about you and because the authentication takes place on your device, they do not even need to know your PIN. Even if MIRACL security was compromised, which is vastly unlikely, you remain safe as they do not retain sensitive security information about you.
From a business point of view, MIRACL is the perfect choice for Moni Talks.
Not only is it more secure and more convenient for users, it is also simple to integrate into our systems and entirely user-friendly for our backend too.
Complications and frustrations accessing your own account because of cumbersome security measures leads to users abandoning platforms. MIRACL will make the experience better for our users, improving customer retention and engagement.
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Additionally, there are many shared values between Moni Talks and MIRACL. We both believe in the power of cryptographic technology to improve our lives, we are both absolutely committed to better security and enhanced user experience, and we both believe in being totally transparent.
Cost is a factor all businesses must consider, but MIRACL is entirely cost-effective. While competitively priced, what makes MIRACL the best choice is how it will save Moni Talks money. We will be better at retaining users, we will reduce the costs of time spent on customer support and investigations when passwords are lost or are compromised, and logins repeatedly fail. We will enjoy the long-term benefit of reputational protection by having a secure, user-friendly login process that can be trusted.
This is the beginning of a great partnership, and one of many for Moni Talks as we move to the next stage of our journey.
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Dear Moni Talks, thank you for your kind words! Your excitement at working with MIRACL | The login you love is fully reciprocated!!
Great news Lisa Armstrong ACMA CGMA ??