Two major new financial institutions have joined the ranks of the FIDO Alliance board of directors. Netherlands-based ING and American credit union USAA now join other prominent financial concerns like PayPal, MasterCard, and Visa on the 25-member board.
ING operates in more than 40 countries and is the top ‘diversified financials’ company on the DOW, and much of the credit for its success goes to its focus on serving its customers. In a statement, ING Chief Information Security Officer Rob Bening pointed to that approach in explaining the company’s move to join FIDO, asserting that ING’s managers “support FIDO authentication and its advancement globally, because it’s an open, scalable and interoperable framework that can support the current and future authentication needs of our customers and the industry.”
For its part, USAA, a financial services company focused on serving members of the US military, pointed to its forward-thinking approach to technological innovation as a large part of the rationale behind joining FIDO. Rick Swenson, the company’s AVP of its Enterprise Security Group – Operations Support, explains that “USAA offers world-class capabilities that take advantage of an ever-maturing digital marketplace,” and as such the company’s managers “wholeheartedly support secure, innovative measures to ensure our members’ security through any channel of their choice.”
Indeed, with its mobile app USAA has previously demonstrated how implementing advanced technologies such as biometric authentication (courtesy of Daon’s IdentityX platform) can not only enhance security, but also improve customer satisfaction. Now, as part of the FIDO board, both ING and USAA are in an even better position to facilitate such outcomes by developing the technology and standards to keep it strong.