Privakey is excited to announce its membership in the FIDO Alliance (Fast Identity Online), an authentication standards organization with members such as Amazon, Bank of America, Google, and PayPal.
The FIDO Alliance is a cross-industry coalition that develops open standards on authentication that seek to reduce the reliance on passwords. Privakey and FIDO share a similar mission in creating authentication that is more secure, private and easier to use, with Privakey focusing its efforts on improving the customer authentication experience.
“Our aligning with the FIDO Alliance is a great step towards a password-free world for consumers,” said Charles Durkin, CEO of Privakey. “We believe the key to getting rid of passwords is key in providing a consistent way for consumers to authenticate with any service, no matter where they are or what device they are using.”
Companies that enable Privakey’s technology, which is based on FIDO specifications, enable their users to interact with them online, in apps, on the phone and in person without ever having to use a password or answer a security question. By eliminating the password, Privakey not only improves the security of transactions, but enhances the customer experience.
“We are excited to welcome our newest associate member Privakey said Brett McDowell, executive director of the FIDO Alliance. “The FIDO vision of universal strong authentication promises better security, enhanced privacy, more commerce and expansion of services throughout digital industries. Privakey’s addition to our Alliance supports our industry goal to make user authentication easier and safer for all parties.”
Privakey delivers MFA-level security, without the hassle of passwords or password managers, SMS messages, out-of-band codes, scanning QR codes or juggling multiple devices. All a user needs is their device (phone, tablet, or computer), and a PIN or biometric as the second factor. The second factor is not stored, so it protects against phishing, keylogging, device cloning, ATO, and other common attack vectors.
“We are very excited to be members of the alliance as we can now spread our ideas and mission to an even broader audience,” said Charles. “With Privakey and FIDO working together, the future of consumer authentication is looking bright.”
About the FIDO Alliance
The FIDO Alliance is the cross-industry consortia that provides a rich set of specifications and certifications for an emerging and interoperable ecosystem of hardware, mobile and biometrics-based authenticators that can be used at many websites. This ecosystem enables web service providers to deploy strong authentication solutions that reduce password dependencies, provide a simpler user experience and protect against phishing, man-in-the-middle and replay attacks using stolen passwords.
Privakey was launched in 2016 to address one of the most vexing problems in the cybersecurity industry. Our team recognized that consistency is the key to achieving the elusive balance between security and convenience in online transactions. It is virtually impossible to achieve convenience without consistency, yet site specific passwords and interrogating knowledge based questions remain at the core of the vulnerabilities and consumer frustration that plague the web today.
Our technology offers a better way for customers and other external users to assert their identities and authorize transactions. Privakey enables a simple, consistent, and secure way for customers to interact with a brand, across all channels, without ever having to use a password or answer a security question. Whether customers are online, in person, on the phone, or on a mobile app, Privakey enables the consistent seamless omni-channel experience that they desire.