HYPR’s solutions provide “out-of-band authentication” (OOBA). OOBA is a process where authentication is required from two different channels or networks. A transaction cannot be completed without the user having access to both networks/channels. An example of an OOBA channel would be a one-time password sent through an SMS message.
For example, a hacker who had gained access to a customer’s login information for an online banking account, would also need access to that client’s wireless network and device to receive the SMS text needed to complete the transaction.