FIDO Alliance Gears Up for Money20/20

The FIDO Alliance is gearing up for a big showing at this year’s Money20/20 conference.

FIDO Alliance Gears Up for Money20/20The organization is a 2 Star Sponsor and Exhibitor at the event, and promises that its Executive Director, Brett McDowell, “will share significant FIDO news and updates” at a special presentation during the conference, according to a post on its website. The company is also going to host what it calls a ‘FIDO Pavilion’, where it will showcase the products and services of partners including Aware, Egis Technology, Nok Nok Labs, and more.

The Alliance’s standards will also likely be one of the focus topics of a panel discussion covering biometric FinTech, entitled ‘Biometrics Innovation & the New Password’.  Among the panel’s identity experts is Phillip Dunkelberger, the CEO of Nok Nok Labs, which was one of FIDO’s co-founding companies; and it will take place alongside other industry heavyweights such as Mastercard’s Ajay Bhalla. That discussion will be moderated by FindBiometrics President Peter O’Neill, who bore witness to the enormous buzz over biometrics at last year’s Money20/20, where he also moderated a panel on the topic.

It should prove to be an even bigger deal this year, with the financial services industry only having tightened its embrace of the technology, and companies like Aware, Inc. heralding a coming end to password-based security. In a new blog post, that company points to the drawbacks of passwords, which are at this point susceptible to a range of security vulnerabilities including phishing and ‘brute force’ hack attacks, and the ‘password fatigue’ resulting from the vast quantity of passwords many users find themselves needing to manage. Biometric solutions have emerged to ameliorate these deep security flaws, and Aware highlights the value of FIDO’s authentication standards in leveraging such solutions to ensure even stronger security while affording users the convenience of using just one device in a streamlined authentication process.

There’s clearly a strong case to be made for biometric security and FIDO-based authentication, so these should prove to be hot topics once again among many of the more than 10,000 attendees expected for this year’s Money20/20 conference. That should offer the FIDO Alliance and its partners numerous opportunities to discuss the technology and protocols, and to highlight their own solutions.

October 21, 2016 – by Alex Perala