‘Stronger’ Strong Customer Authentication Boosts Fraud Prevention

For almost 150 years, biometric identification has shown technical promise. From the early days of imprecise measures to today’s robust, automated systems, technology is reshaping the landscape of cybersecurity and access control. Biometric identification, like most developing technologies, has evolved over the previous fifty years, with the latest systems making biometrics your best password. The new FIDO2 key standard is the latest form of passwordless authentication that enables the safe data matching for biometric user templates.

FIDO’s certification processes are crucial in providing an interoperable ecosystem of goods and services from which enterprises may deploy FIDO Authentication solutions globally. The FIDO Alliance administers functional certification procedures for its many standards to verify product conformity and interoperability. A FIDO2-certified device has successfully passed the FIDO certification process, such as a YubiKey 5 Series security key.

The Fast Identity Online (FIDO) Alliance was founded in 2013 to develop and promote new authentication standards that would eliminate the need for passwords. In an online environment where many businesses increasingly depend on global resources, cybersecurity continues to be one of the most serious concerns confronting any enterprise today.

FIDO2 is the alliance’s newest biometric identification security standard, improving the architecture of the alliance’s present protocols. Cybercriminals have a variety of methods for obtaining your credentials, but biometric authentication utilizing the FIDO2 implementation makes such attempts considerably more challenging to accomplish. Since its debut in 2018, the FIDO2 standard has garnered widespread adoption across mobile, desktop, and server platforms.

The FIDO Alliance works in three areas to reduce the world’s dependency on passwords and improve online security: user authentication, identity verification, and binding; and the Internet of Things. The work areas address critical elements of managing the digital identity lifecycle, such as identity verification for account onboarding and recovery and user and device authentication.

To know further about ‘stronger’ strong customer authentication boosts fraud prevention, below is an infographic to help you secure private authentication for the future – LoginID.