Business version of FIDO-certified digital ID card released by CompoSecure and Nok Nok
CompoSecure has released a new, FIDO-certified digital ID card developed under its partnership with Nok Nok Labs and designed to reduce fraud and online hacking.
Dubbed Arculus Business (as opposed to the consumer version the company released earlier this year), the new solution for digital ID protection was unveiled at the Money 20/20 event in Las Vegas last month.
Just like its predecessor, the new Arculus card can be used as a virtual key for user authentication into a variety of digital services, including websites, mobile apps, and more.
The solution’s software development kit (SDK) will now integrate directly with both custodial (where the exchange stores a user’s keys) and non-custodial (the keys are held privately by the user) cryptocurrency exchange platforms.
FIDO authentication with passwordless login will be available for custodial platforms, while non-custodial exchange platforms will be able to take advantage of Arculus’s full key signing capabilities.
“Imagine a world in the not-so-distant future where businesses can verify that purchases were actually made by the authorized user using a personalized and universal digital identity,” explained CompoSecure CEO Jon Wilk.
Moving forward, the company said it will work to integrate its digital security technology seamlessly into companies’ legacy payment platforms, thus delivering strong key-based security.
“Arculus is the first step towards this vision that can reduce chargebacks for merchants, identity theft for customers and online hacking,” Wilk added.
The release of the new Aculus key comes months after CompoSecure reached its original partnership agreement with Nok Nok, which provided the solution with its FIDO protocol security features.
biometrics | CompoSecure | cybersecurity | digital ID | digital identity | fraud prevention | identity verification | multi-factor authentication | Nok Nok Labs | secure transactions