The FIDO Alliance will be hosting a webinar to teach financial institutions about the benefits of the organization’s authentication protocols. The webinar will specifically highlight the incoming PSD2 regulations and compare FIDO standards to various legacy solutions.
On that front, FIDO notes that its standards can be used to fulfill the PSD2 requirements for Strong Customer Authentication, and that third party providers will be allowed to use APIs to access accounts in the new environment. The webinar will consequently suggest that financial institutions will benefit if they update their legacy authentication solutions and implement modern passwordless alternatives.
The webinar is scheduled to take place on July 16 at 9am EST. It will be moderated by FIDO Alliance Executive Director and CMO Andrew Shikiar, while Alain Martin will be the featured speaker. Martin is the Co-Chair of the FIDO Europe Working Group and the Head of Consulting and Industry Relations at Thales.
Together, Shikiar and Martin will examine SMS One-Time Passwords, hardware OTP generators, CAP readers, and various biometric and device-based solutions. The webinar will evaluate each method based on its scalability and its security, amongst other factors.
The Aite Group and iovation have previously predicted that PSD2 would accelerate the adoption of biometric authentication technology. NatWest recently announced that it will be piloting a behavioral biometric solution from Visa in its efforts to achieve PSD2 compliance.