The Spanish bank BBVA has partnered with Nok Nok Labs in an effort to strengthen the biometric security of its mobile platform. To that end, Nok Nok will outfit BBVA with a number of different authentication technologies for its mobile and online channels.
The two companies did not specify exactly which authentication technologies would be covered through the arrangement, although they did confirm that the new integrations would allow BBVA to meet the latest FIDO standards. Those standards enable the use of passwordless authentication methods, including biometric options like face and fingerprint recognition.
Nok Nok Labs is one of the founders of the FIDO Alliance. The technology being provided to BBVA is designed to be interoperable and scalable, and will allow BBVA to meet Europe’s PSD2 requirements for Strong Customer Authentication. It is also expected to streamline the login process for BBVA customers, more than half of whom are already using BBVA’s mobile banking services.
“One of the biggest challenges has been to balance security with user experience. Due to the FIDO standard, we are confident that both elements work together to provide customers with the highest security, along with a transparent and agile user experience,” said BBVA Global Technology and Information Security Officer Juan Francisco Losa.
“Having a simple and robust authentication process on mobile devices is integral for protecting customer privacy,” added Nok Nok CEO Phillip Dunkelberger. “This agreement will allow us to continue expanding our international presence.”
BBVA has been a longtime proponent of password-free authentication, and currently offers selfie-based mobile onboarding courtesy of Veridas, which is itself a BBVA spinoff company. However, BBVA has indicated that it is looking to expand the scope of its biometric onboarding program and mobile banking services, which could have prompted the search for an outside technology partner.
Nok Nok, meanwhile, recently released a new FIDO authentication SDK for smartwatches.