• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

Onfido Shares Lessons from WEF White Paper on Passwordless Authentication

February 3, 2020

Biometrics News - Onfido Shares Lessons from WEF White Paper on Passwordless Authenticaton

Onfido has listed some of the key takeaways from the World Economic Forum’s new white paper on passwordless authentication. Onfido was one of the organizations that contributed to the paper, which was released during the recent WEF annual meeting in Davos.

In the paper, the WEF noted that passwords are becoming more and more difficult to manage, with the average consumer now keeping track of more than 191 unique accounts. That makes people more likely to reuse certain passwords, which is an issue because 80 percent of cyberattacks are password-related in some way.

That’s why the WEF and Onfido are promoting passwordless authentication as a potential solution to the problem, one that carries numerous benefits for businesses and private consumers alike. For example, between 20 to 50 percent of all IT help desk calls deal with password resets, and the corporate cost of each request can be as high as $70.

The drain on the economy goes well beyond a few hours of lost productivity. Weak and stolen passwords are the most common cause of data breaches, which carried an average cost of $3.92 million in 2019. Passwordless authentication eliminates some of that risk, while simultaneously offering a more convenient user experience.

Onfido also emphasized the importance of the FIDO Alliance’s efforts to develop trusted authentication standards, which led to the organization’s WebAuthn specification becoming an official Web standard back in March. The white paper highlights five different forms of passwordless authentication, including behavioral analytics, zero-knowledge proofs, security keys, QR codes, and biometrics.

Onfido, of course, is best known as a provider of biometric passwordless solutions. The company has previously provided selfie-based authentication solutions for banks, elections, and other establishments, and received SOC-2 Type 2 certification earlier this year. The certification attests to Onfido’s ability to protect the personal information of its customers.

–

February 3, 2020 – by Eric Weiss  

Related News

  • WEF: Biometric Authentication Should Replace Passwords in Wake of COVID-19 PandemicWEF: Biometric Authentication Should Replace Passwords in Wake of COVID-19 Pandemic
  • FIDO Authentication Spotlighted at World Economic ForumFIDO Authentication Spotlighted at World Economic Forum
  • FIDO Alliance Welcomes Onfido to its Board of DirectorsFIDO Alliance Welcomes Onfido to its Board of Directors
  • Year in Review: FIDO Alliance Gains More Ground in 2021Year in Review: FIDO Alliance Gains More Ground in 2021
  • Onfido Recognized for Fraud Prevention in 2021 CyberSecurity Breakthrough AwardsOnfido Recognized for Fraud Prevention in 2021 CyberSecurity Breakthrough Awards
  • New LoginID Plugin Enables Biometric Login for WordPress UsersNew LoginID Plugin Enables Biometric Login for WordPress Users

Filed Under: News, Thought Leadership Tagged With: Biometric, biometrics, cybersecurity, FIDO, FIDO Alliance, Onfido, passwordless authentication, selfie authentication, WEF, white papers, World Economic Forum

Primary Sidebar

Want To Deploy Biometric Access? Download This First:

The resources in this bundle will give you the know-how to choose the right biometric access for your organization.

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • [UPDATED] Feb 15 Virtual Summit Sessions Announced: Digital ID in Healthcare, Financial Services, Travel
  • Innovatrics’ OCR Tech Meets Thai Alphabet Challenge
  • Biometric Registration Spreads in Africa: Identity News Digest
  • [Updated] FindBiometrics and Acuity Market Intelligence to Unveil Biometric Digital Identity Prism at Feb 15 Virtual Event
  • Jumio Brings Talent Boost to Sales Team

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics