FIDO Alliance will allow users forget about their regular passwords
FIDO or Fast Identity Online Alliance promotes revolutionary authentication protocol for e-commerce and other spheres. This protocol is to give users higher level of security.
Creation of FIDO Alliance was forced by up-to-date security requirements. Modern Internet users have to confirm their identity while entering a lot of important accounts and services. Current password authentication is shrinking every day, due to reuse, malware, phishing and can result into identity or financial theft.
Fast-identity authentication system will support a wide range of technologies: biometrics, such as fingerprint scanners, facial and voice recognition, and already known and existing authentication solutions, such as USB security tokens, Near Field Communication, One Time Passwords, Trusted Platform Modules, etc.
FIDO Alliance is developing Online Security Transaction Protocol (OSTP). This open protocol is supposed to be extensible, which means that it can accumulate and acquire innovations as well as store existing options. Protocol enables interaction of different technologies within one infrastructure, allowing security settings to be created for individual needs of each user or organization. So the more companies, vendors or businesses, that need to verify their identity, join FIDO, the more use cases and technologies can become part of solution.
Clain Anderson, director of software at Lenovo, expresses his hope that FIDO protocol will be eventually inserted as a piece of code to all types of computers and smartphones. He stated that they needed something that could work everywhere.
According to surveys, 50 billion internet-connected users are predicted by 2020. FIDO protocol approach lets users choose between all available methods of authentication. Besides it lets providers control authentication process, which can make user authentication more transparent and limit number of frauds. Any website will be able to improve user authentication and transaction experience.
Among founding member organizations you can see Agnitio, Infineon Technologies, Lenovo, Nok Nok Labs, PayPal, and Validity. They are currently developing FIDO-compliant products. One of the founders of FIDO concept was PayPal’s chief information security officer Michael Barrett. He also hints at adoption of fast-identity authentication system by PayPal.
FIDO was created in July 2012 to become remedy to the problem of ample of passwords users need to create and remember and prevent cross-use of similar passwords, which eventually leads to financial and identity theft.