In an address at Google last month, ex-con man and longtime FBI agent Frank Abagnale, the inspiration behind the film ‘Catch Me If You Can,’ predicted that within 24 months, internet passwords will no longer be used.
Abagnale believes that static passwords are the last remaining major threat to a secure internet. This is not a new concept, and many companies have stepped up over the years to offer solutions. By and large, though, passwords are still the norm. What makes him believe they’ll be history in the next two years? Ori Eisen.
Abagnale convinced Ori Eisen, the director of fraud at American Express, to quit his job and start a cybersecurity film called 41st Parameter. Abagnale served as an advisor and helped him grow the business. Experian bought 41st Parameter in 2013 for $324 million.
Eisen’s new project, again advised by Abagnale, is called Trusona, a portmanteau of the words “true” and “persona.” Trusona is developing a suite of products – the most popular of which is a two-factor app identification tool (Eisen loves to demonstrate it, you can find videos on YouTube) – aimed at eradicating passwords once and for all.