The FIDO Alliance is gearing up for its first Authenticate Virtual Summit of 2022. The event will focus on authentication challenges in the commercial space, and will be split into two presentations to accommodate guests tuning in from different time zones. The first Virtual Summit showing will kick off at 2pm ET on March 30, and is geared toward viewers in the United States. The second show will run from 2pm – 5:30pm CET on March 31 for audiences in Europe. All of the sessions will be available on-demand following the European presentation.
The content will address some of the benefits and drawbacks of different forms of authentication, and explain how businesses can use FIDO technologies to meet shifting regulatory requirements. FIDO will also highlight specific use cases for various authentication solutions to show viewers how they can deploy the technology in their own operations.
In that regard, the Alliance noted that online payment fraud has increased in the past few years, and is believed to be responsible for $20 billion in losses in 2021 alone. Meanwhile, the lack of good authentication can come with similarly high opportunity cost, since businesses lose as much as $18 billion in potential sales due to cart abandonment. FIDO argues that a better checkout process with a smoother authentication step will create a safer and more convenient checkout process for consumers.
The speaker lineup for the Virtual Summit – formally titled “The FIDO Fit in Commerce: Examining the Present and Future of Authentication in Banking, Retail, Crypto and Blockchain” – includes executive representatives from eBay, Entersekt, LoginID, and IDnow, amongst several others. Those interested in attending can now register for free. Daon, Keyless, and Nok Nok will serve as the Signature Sponsors for the event.
The FIDO Alliance has suggested that the insights will be especially useful to stakeholders in the retail, finance, and crypto spaces. The organization’s Virtual Summit Series complements its flagship Authenticate conference, which will take place in person in October.