Identity verification company Onfido has been appointed to the FIDO Alliance board of directors, a body aim to build global authentication standards.
The RegTech company is joining other global technology companies, financial services and e-commerce businesses. Working together, the alliance aims to establish open, standards-based specifications for interoperable strong authentication across mobile, web and desktop applications.
Through the use of on-device public key cryptography and ‘convenient’ authenticators such as security keys and biometrics, the FIDO Authentication solution offers improved two-factor authentication.
Onfido will supply its AI-powered verification tools to the alliance, along with its experience of partnerships across the market.
FIDO Alliance executive director Brett McDowell said, “Onfido brings innovative identity verification technology and a dedication to security that aligns with the FIDO Alliance’s mission to develop more secure and convenient solutions that reduce the world’s dependence on passwords.
Onfido director of policy Parker Crockford said, “With data hacks providing an abundance of usernames and passwords, traditional authentication methods such as social security numbers and knowledge-based questions are becoming outdated and more vulnerable to attack.
“We’re excited to join the FIDO Alliance board and bring our expertise in identity proofing, biometrics and machine learning to the organization to help establish a more robust, secure way for consumers to be authenticated and for businesses to onboard customers faster.”
Onfido leverages machine learning technology to verify identities of an uploaded photo identity document and a selfie. Once verified via the system, users can access a selection of online services, helping businesses to improve their onboarding.
The RegTech 100 company has been on a spree of deal activity. Most recently, Onfido teamed up with INTERPOL to support government officials with detecting fraudulent identity documents.
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