Geneva, Switzerland – The FIDO (Fast IDentity Online) Alliance has developed security standards for strong authentication that enable multi-factor authentication methods in order to help online consumers to strongly protect from fraud with easy to use and more robust secure log-in and online purchasing.
Today, Geneva-based startup company Truxtun Capital announced the first FIDO-certified Acoustic Card (3DSA) and FIDO certified 3DSA product suite as a reference for remote online authentication tokens. By using an acoustic token in addition to their 3DSA FIDO certified Secured PIN, consumers can securely authenticate their online activities on mobile devices.
Acoustic technology is a universal safe and reliable communication protocol ideal for connecting an authentication token to mobile or any hard line phone applications. The user just needs to play the card and type the secured PIN.
FIDO Alliance is the universal protocol for emerging online authentication because it is part of two flexible models:
- The ability to leave the choice to the relying party and card holder (user) the choice and the authentication sequence to replace the traditional login and password in compliance with adaptive authentication designs,
- It is easy to implement in the way that any new FIDO certified device can be added by the relying party to authenticate the card holder, it opens the way for the sets innovation on the biometric authentication on EMV card products and 3D Secure.
“FIDO is the catalyst of multi-factor authentication of Banking in Europe !” said Patrick Moynier, President of Truxtun Capital.
“The FIDO industry standard is in compliance with international and European standard related to multi-factor authentication. Truxtun Capital is pleased to be the first company offering a certified reference solution for FIDO UAF in compliance with European Banking Authority (EBA) Payment Service Directive (PSD2) and EMV standards. This makes it easier for banks and payment operators to implement the FIDO standard into their products.” continues, Patrick Moynier.
FIDO is already implemented by companies such as Bank of America, Sharp, eBay, Google and Samsung. Truxtun Capital, is planning implementation of FIDO with a wide range of FIDO reference designs supporting U2F and UAF standards with EMV standards products. .
Truxtun is strongly reviewing how 3DSA Strong Authentication Solutions and FIDO authentication standards can support EMV payment use cases. Initial Truxtun activities will show how the Wega Card embedded sound technology and FIDO's authentication protocol can be used to support EMV cardholder verification technology and raise the security level for all transactions and remote payments. It's an experimentation that could have a substantial impact on security in financial services, especially with respect to consumer security.
All FIDO Certified products and solutions have one very important thing in common: they can eliminate an organization’s risky and inefficient reliance on single-factor username and password authentication. The FIDO certified Wega AuDioCard want to be in the forefront of the combat against daily fraud of purchasing card, a sector where 3DSA Authentication Solutions, based on the sophisticated authentication and to multiple factors, could prove strongly effective. For Truxtun Capital, technological challenges offer further evidence and validation of the company's growing credibility and importance in promoting and establishing 3DSA as a strong authentication standard.
Truxtun is constantly looking for innovative ways to stimulate end-to-end experiences for users across platforms. Truxtun is convinced that the FIDO Certified Wega AudioCard and 3DSA Authentication solutions as well as biometrics technologies form the bedrock for future authentication methods. This exploratory process may be in part a response to the financial services organizations, private business, governments and consumers.
A collaboration between different industry players like hardware, software and commerce is necessary to establish a set of industry standards for authentication.
FIDO standards are the answer to this cross-industry collaboration requirement as well as to the need for interoperability for service providers like Truxtun Capital, retail banks and consumer electronics companies providing personal digital devices.
By launching its FIDO certified Wega AudioCard and FIDO certified 3DSA Authentication Solutions, Truxtun Capital is demonstrating leadership innovation as it positions web and mobile commerce or banking globally for broad-scale deployment of industry standard FIDO authentication.