February 25, 2014 -
“Bank of America is counted among the world’s leaders in financial services. As an institution responsible to secure high-value interests and relationships across consumer, government, enterprise, and business, Bank of America is among a select few ‘Relying Parties’ ideally positioned to drive adoption of FIDO standards at Internet scale,” Michael Barrett, president of the FIDO Alliance said. “We welcome Bank of America to our Board of Directors at a pivotal point in FIDO Alliance history. With our review draft specifications just released publicly, and the marketplace poised to deploy ‘FIDO Ready’ certified solutions in 2014, both users and those who serve them are eager to embrace simpler, stronger FIDO authentication.”
The Bank of America has also been appointed to the Alliance’s Board of Directors.
“Historically, strong two factor hardware authentication has been too costly and complicated to scale for mass markets,” Stina Ehrensvard, CEO and founder of Yubico said. “We are pleased to see an ever-increasing number of large online services and financial institutions joining the FIDO Alliance and addressing the issues. FIDO certified devices offer better security and a greatly improved user experience over traditional software-and-hardware based authentication technologies.”
The FIDO Alliance has been busy these past couple of days. Reported previously, the FIDO Alliance also recently announced the first deployment of FIDO authentication and biometric fingerprint payment options, though a new collaboration between PayPal and Samsung.