Ipsidy Inc (OTCQB:IDTY) announced Monday that it has joined the Fast Identity Online (FIDO) Alliance, a coalition formed to address the problems users face in creating and remembering usernames and passwords with biometric other authentication solutions.
The group, formed in 2012, is developing open, interoperable authentication standards that reduce reliance on passwords with authentication that is more secure, private and easier to use, the company said.
FIDO’s solutions eliminate passwords by relying on a combination of biometric verification and device authentication achieved through cryptographic security. This speeds up and secures users’ logins, the company said.
The alliance includes global leaders in technology that collaborate to set FIDO specifications and establish best practices for the group’s authentication deployment.
“Ipsidy is enthusiastic to join the powerful FIDO ecosystem, vital to widespread adoption of strong authentication,” CEO Phil Kumnick said in a statement. “Ipsidy is committed to helping define the interoperable standards that will drive identity verification and strong authentication, delivered quickly to customer platforms and their users. The alliance and Ipsidy both believe in the goal of delivering on this promise while providing the highest levels of accuracy, security and trust.”
The alliance’s goals completely align with Ipsidy’s vision to establish and bind a rooted, trusted identity to a user, the company said. The company's identity verification removes any uncertainty of a user’s identity, thereby enhancing FIDO strong authentication and facilitating FIDO’s mission of eliminating the reliance on passwords.
Ipsidy’s mobile identity platform and solutions, including its Proof offering, are designed to offer a seamless and certain user identity verification experience, which it believes is consistent with FIDO’s goals of simpler and safer authentication.
“We are excited to welcome our newest associate member, Ipsidy,” FIDO Executive Director and Chief Marketing Officer Andrew Shikiar said. “The FIDO vision of universal strong authentication promises better security, enhanced privacy, more commerce, and expansion of services throughout digital industries. Ipsidy’s addition to our alliance supports our industry goal to make user authentication easier and safer for all parties.”
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