Magic Labs provides secure, passwordless authentication solutions for web and mobile applications. Their main product, Magic.link, allows users to log in to various applications using methods like magic links sent via email or SMS, eliminating the need for traditional passwords. This approach not only enhances security by reducing the risk of breaches associated with password systems but also improves user experience by simplifying the login process. Unlike many competitors, Magic Labs focuses on a "wallet as a service" model, offering a subscription-based platform that includes features such as continuous risk monitoring and real-time service updates. The company's goal is to help clients enhance security, streamline user experiences, and ensure compliance with industry standards.