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Nok Nok’s customer expansion continues, spurred by Fido Alliance’s new passkey guidelines

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Nok Nok’s customer expansion continues, spurred by Fido Alliance’s new passkey guidelines

Passwordless authentication firm and co-founder of the Fido Alliance Nok Nok Labs has announced a Year-on-Year (YoY) increase of over 40 percent in annual recurring revenue for 2022. Regulatory compliance, key partnerships and the industry introduction of passkeys drove the growth.

Leveraging the potential of this passwordless technology, Nok Nok announced several innovative features last year, including using biometrics for device and web service access, integrating passwordless authentication into enterprise workflows and reducing development and support time for customer-facing applications.

The company also highlighted future integration capabilities, such as in-home devices and physical access to buildings.

Writing in a release published on its website on Wednesday, Nok Nok said customer success stories of the past years include BBVA, which implemented its Fido-based biometric authentication in its mobile banking services, and NTT Docomo, which improved the user experience of its services by adopting Nok Nok’s Fido solution.

In response to the growing demand for regulatory compliance, Nok Nok also formed strategic partnerships. One such collaboration was with UberEther, a provider of identity and access management solutions for the federal government.

“From when we co-founded the Fido Alliance in 2012 to where we see adoption today, it is truly rewarding to see industry-leading customers and partners deploying Nok Nok’s Fido-enabled solutions at internet scale to hundreds of millions of global end users,” says the company’s CEO Phil Dunkelberger.

“All of this momentum points to a more secure, easier-to-use experience for all users and reduced complexity for IT and security teams.”

FIDO Alliance published guidelines for passkey optimization

As mentioned by Nok Nok, passkeys are increasingly being adopted in the authentication industry as a passwordless solution. The Fido Alliance released new user experience (UX) guidelines on Wednesday to help accelerate their deployment and adoption.

The recommendations offer evidence-based best practices to enhance the user journey in passkey creation and sign-in. In particular, the guidelines highlight the most effective prompts for passkey creation and provide actionable recommendations.

The guidance document also aims to improve the user experience at various stages of the customer journey, from awareness to authentication, ultimately maximizing adoption.

“As companies around the world accelerate their move toward passwordless authentication based on Fido standards, the topic of user experience has risen to the forefront,” says Andrew Shikiar, executive director and CMO of the Fido Alliance.

“Passkeys uniquely can provide a phishing-resistant sign-in as well as a superior user experience which can drive top-line growth by enabling more seamless access to online services and engendering stronger brand affinity.”

The Fido Alliance UX Working Group developed these recommendations in collaboration with usability research firm Blink UX and with additional support from 1Password, Google, Trusona, and U.S. Bank.

The group conducted comprehensive research on Fido user journeys and actively collaborated with Fido Alliance stakeholders to establish these best practices for user experience.

The release of the UX guidelines follows the recent publication of a report by the Alliance that investigates consumer readiness for passwordless technologies by analyzing authentication technology behaviors, patterns, and adoption.

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