February 18, 2016 -
Socure announced it has joined the FIDO (Fast IDentity Online) Alliance to lower the overall dependency on passwords to securely authenticate users of online services, as well as decrease the risks of online identity theft and fraud.
As a sponsor member of FIDO Alliance, Socure will provide its expertise in digital identity verification via social biometrics to the organization’s ongoing efforts in establishing industry-wide, open specifications to improve the authentication process.
“Today, more accounts are created and used almost exclusively in a ‘not-present’ manner than ever before—and the trend is accelerating,” said Nash Ali, vice president of products and data science at Socure. “Assuring trust in digital identity is a cornerstone of transacting business online.”
The FIDO Alliance is developing more secure specifications to authenticate users as well as working towards ensuring worldwide adoption of these new specifications and standards.
Socure joins many other industry leaders including MasterCard, Bank of America and Wells Fargo, helping FIDO to create industry-wide specifications for a more seamless and stronger authentication process.
“We welcome Socure and their history in driving innovation in identity solutions to the FIDO Alliance. The expertise and experience the company has working with some of the world’s leading financial institutions will be a valuable asset to the FIDO ecosystem,” said Brett McDowell, executive director of the FIDO Alliance. “We look forward to contributions from Socure that further the mission of the FIDO Alliance for more secure and simultaneously easier-to-use online authentication.”
Socure’s online consumer verification solution, ID+, as well as the patented social biometrics platform on which it is built, enable organizations to authenticate identities using social media data and other trusted information found both online and offline.
The company’s solutions authorize all components of a consumer’s digital identity, including intelligence on social profiles and connections, email, address, phone and device IP.
In October, Socure announced that its social biometrics platform is being used by financial institutions and other firms to authenticate the identity of consumers in more than 175 countries worldwide.