Nok Nok Labs has been named the winner of Frost & Sullivan’s New Product Innovation Award for 2020 in the category of passwordless consumer authentication.
The company was recognized for its S3 Authentication Suite, which is designed to empower organizations with biometric, multi-factor authentication solutions. It also incorporates FIDO Alliance standards aimed at protecting employees’ biometric data and ensuring it isn’t shared with third parties.
In bestowing the award, Frost & Sullivan highlighted Nok Nok’s success with Intuit, a client in the financial software sector that turned to Nok Nok to upgrade its identity management framework. With its S3 Authentication Suite, Nok Nok enabled Intui to reduce authentication time for end users by 20 percent, and brought the authentication success rate to 99.9 percent, compared to the 80-85 percent success rate offered through SMS codes and one-time passwords.
Commenting on the award win in a statement, Frost & Sullivan analyst Ram Ravi asserted that the S3 Authentication Suite is “the most widely deployed FIDO-based solution,” and praised Nok Nok for its dedication to supporting its clients.
“Nok Nok is focused on providing practical support to individual customer requirements,” he said. “The company delivers enhanced customer value by constantly introducing unique features to its S3 Authentication Platform, such as adaptive policies, quick authentication, and single-developer API.”
News of the award win comes just a couple of weeks after Nok Nok’s announcement of a partnership with Netcetera that will see the companies develop a joint solution combining the S3 Authentication Suite with Netcetera’s 3D Secure payment technologies. The business-focused joint solution should help to further spread the reach of FIDO authentication standards.
“The fact that FIDO standards and Nok Nok are now so globally accepted is a testament to the need for standards-based passwordless authentication solutions,” commented Nok Nok CEO Phillip Dunkelberger. “We are honored that Frost & Sullivan recognized the innovation we bring to this front.”