Plurilock Security (PLUR.V) renewed an existing multifactor authentication digital security contract with a bank based in the northwestern region of the United States today, according to a press release.
The company will grant the bank the continued use of their multifactor authentication services. MFA is a method of authentication that requires two significant sources of identity to prove the identity of any digital user. It uses behaviour biometrics rather than traditional token-based services to better protect employees and staff from data breaches.
“The renewal of this contract clearly highlights the importance of our MFA products in protecting financial services firms from cyberattacks. Our multifactor and continuous authentication solutions provide companies a leading edge in countering cybersecurity breaches while ensuring the frictionless workflow of their employees and staff, which is crucial for our clients in maintaining high productivity while coping with the alarming rate of cyberattacks that target the financial sector,” said Ian L. Paterson, chief executive officer of Plurilock Security.
Plurilock hasn’t been public for long—having only come on the scene in September—but in the interim period their stock price has seen its fair share of volatility. At present, it’s on a steady incline, having rose incrementally from its mid-November low of $0.275 to today’s price of $0.40.
Full disclosure: Plurilock Security is an equity.guru marketing client.