The ₹350-crore Chennai-based Precision Group has forayed into the consumer segment with the launch of its password manager that stores all the passwords in a ‘companion’ device rather than a local device like a personal computer or mobile or in a cloud.
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In the enterprise segment, the 25-year-old company has been providing its security solutions to clients like large banks, and also its biometric security solutions for Aadhar Ecosystem, said the company’s Founder & CEO Mathew Chacko. With increased concerns about impersonation, password compromise and cyber attacks, the company wanted to create a simple-to-use secure solution for people who are worried about password theft, he told newspersons.
Sivakumar Natarajan, Product Head, Precision Group, claimed the InnaIT Password Manager was India’s first hard token-based password manager that uses both biometrics and public key infrastructure. This means, that a person need not remember the passwords, and rather store all of them in the ‘companion’ device that has an encrypted chip. “I have 183 passwords, and everything is stored in the small device that I always carry with me,” he said.
In the InnalTKey Password Manager, the integrated fingerprint sensor adds a secure layer of biometric identity verification for the user. Additionally, the biometric sensor being a capacitive sensor, can read even feeble fingerprints and safeguards against 23 different spoofs.
Further, InnaIT Password Manager stores credentials locally on the device, and is in an encrypted form to prevent unauthorised access even if the device is lost, he said. It can store more than 500 credentials and can also generate complex passwords of up to 64 characters in length, for enhanced security, he added.
The product is priced at ₹5,999 (MRP) but the company is offering it at ₹3,999 as an inaugural offer, he said.