Spanish bank BBVA is implementing Nok Nok Labs’ biometric technology to improve its security and user experience for its mobile banking.
The deal will enable BBVA to incorporate Nok Nok’s fast identity online standard which will improve security of biometric authentication on its mobile banking app. This system enables identification methods such as fingerprint and facial recognition be used in place of passwords.
BBVA global technology and information security officer Juan Francisco Losa said, “Traditionally, one of the biggest challenges of authentication systems has been to balance security with user experience.
“Due to the FIDO standard, we are confident that both elements work together seamlessly to provide customers with the highest security standards, along with a transparent and agile user experience. In this way, we can improve the ability of our clients to interact with us in a more natural way.
Nok Nok Labs develops biometric authentication solutions for the financial services and mobile networks. Its biometric software supports fingerprint, iris and face scanning.
Last year, Japanese bank Softbank tapped Nok Nok for its biometric authentication services to help boost security for customers.
Nok Nok Labs CEO Phillip Dunkelberger said, “Having a simple and robust authentication process on mobile devices is integral for protecting customer privacy.
“We are very proud to partner with BBVA and this is a fantastic collaboration for Nok Nok because it will allow us to introduce the latest innovations in authentication for customers, through a simple, transparent and secure experience. This agreement will allow us to continue expanding our international presence.”
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