ValidSoft, an authentication and transaction verification specialist that is owned by Elephant Talk Communications, has joined the Fast Identity Online (FIDO) Alliance. The group is dedicated to encouraging the adoption of an open protocol security and identification standard that is tied to the mobile or other end point device being used to access the internet, eliminating the reliance on passwords and log-ins, to enhance authentication.
ValidSoft joins many of the biggest technology and FS brands in the payments sector in the FIDO Alliance, which already counts PayPal, Lenovo, MasterCard and Google as members.
The common goal of FIDO is to develop industry standards that increase compatibility and reduce the reliance on usernames and passwords to authenticate online users, approaches that are both easily compromised and notoriously difficult to remember. Passwords would instead be replaced by ‘low-friction’ authentication methods embedded in device hardware, a philosophy already reflected in ValidSoft’s multi-factor mutual authentication, identity and transaction verification solutions, which incorporate voice biometrics and features such as location proximity.
The alignment between the company’s technology offerings and FIDO’s aims makes it surprising that ValidSoft did not join the Alliance earlier when it was launched in February 2013. Nevertheless, Pat Carroll, chairman of ValidSoft, is excited to be a member, commenting that: “We’re pleased to support FIDO Alliance’s efforts to create and implement simpler and higher authentication standards that will help protect people from ever more sophisticated fraud … without negatively impacting the consumers’ experience.”
Welcoming the newcomer to the organisation, Michael Barrett, FIDO Alliance president and chief information security officer (CISO) at PayPal for his day job, said he was excited to see them join. “The FIDO vision of universal strong authentication promises better security, enhanced privacy, more commerce and expansion of services throughout digital industries. ValidSoft’s contribution to our Alliance supports our industry goal to make user authentication easier and safer for all parties.”
By Neil Ainger