Prove announced today that it joined the FIDO (Fast IDentity Online) Alliance to help solve what FIDO describes as the “global password problem.” Prove’s unique mission to “simplify and secure the digital economy with the world’s largest network of privacy-preserving reusable identities” is well-aligned with FIDO’s ambitious goal of phasing out passwords and other knowledge-based forms of authentication that add friction to the consumer experience and are vulnerable to phishing attacks.
The FIDO (Fast IDentity Online) Alliance was formed in July 2012 to address the lack of interoperability among strong authentication technologies and remedy the problems users face with creating and remembering multiple usernames and passwords. The FIDO Alliance is changing the nature of authentication with standards for simpler, stronger authentication that define an open, scalable, interoperable set of mechanisms that reduce reliance on passwords. FIDO Authentication is stronger, private, and easier to use when authenticating to online services.
"With FIDO2 and the adoption of WebAuthN, we are finally seeing the long overdue death of the password,” said Prove Global Identity Officer Timothy Brown. “Through strong identity binding when issuing FIDO2 credentials, Prove improves upon these passwordless credentials by connecting them to Prove Network's highly assured and reusable identities."
As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with, and enable consumers. Prove’s phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove’s platform to process 20 billion customer requests annually across industries, including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces, and payments.
As the newest sponsor of the FIDO, Prove will play an integral role in delivering on this critical shared mission.
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