FIDO Celebrates Money20/20 Success

The FIDO Alliance is celebrating what it calls “a busy (and productive!) four days” at last week’s Money20/20 conference in a new blog post.

For the authentication standards consortium, the big news was its announcement that it would work with EMVCo to develop a new authentication specification specifically for mPayments and digital wallets, a collaborative effort that could have a powerful impact in the financial services sector, and could help to further spur the development of mobile biometric solutions.

Biometrics, of course, was once again a hot topic at Money20/20, where a biometrics panel discussion featuring FIDO co-founder Nok Nok Labs and other industry heavyweights like Mastercard’s Ajay Bhalla (and hosted by FindBiometrics President Peter O’Neill) quickly sold out. A thousand people attended the event, many of whom were financial services and FinTech executives.

Many of those attendees were likely also drawn to the FIDO Ecosystem Pavilion, where FIDO highlighted certified solutions from numerous partners, many of which were based on biometric security. In its blog post the organization says that many attendees who stopped by expressed “agreement that the payments industry as a whole needs to move beyond passwords, and excitement over how strong authentication can be super simple.” The bodes well for FIDO and its partners, biometric technology, and the financial services organizations that are starting to embrace the kinds of solutions on offer.

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October 31, 2016 – by Alex Perala