PayPal, Lenovo, Agnitio, Infineon Technologies, Nok Nok Labs, and Validity have partnered to change online authentication. The six companies have founded the Fido Alliance to modify online authentication with an industry supported standards-based open protocol.
Current password authentication is weak due to reuse, malware and phishing, and leaves enterprises and end-users vulnerable to financial and identity theft. FIDO’s (Fast Identity Online) standards-based approach automatically detects when a FIDO-enabled device is present, and offers users the option to replace passwords with authentication methods that are more secure and easier to use.
Michael Barrett, FIDO Alliance president and PayPal Chief Information Security Officer said, “The Internet – especially with recent rapid mobile and cloud expansion – exposes users and enterprises, more than ever before, to fraud. It’s critical to know who you’re dealing with on the Internet. The FIDO Alliance is a private sector and industry-driven collaboration to combat the very real challenge of confirming every user’s identity online.”
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