During yesterday’s webinar titled “The Password is Dead!” Michael Barrett mentioned that within Q1 of 2014 we can expect to see FIDO ready authentication solutions on the market. This bit of news comes as an expected relief: the need for theFIDO Alliance’s protocol is clear from all ends of the authentication industry and the organization’s rapid growth throughout this year has been notable. Members in support of the standard include MasterCard, Google, Oberhtur Technologies and PayPal. Today it was announced that recruitment is not over yet, with ValidSoft joining the Alliance.
ValidSoft is a wholly owned subsidiary of Elephant Talk Communications Corp. and is a strong supporter of the post-password paradigm. The company’s solutions attack problems of fraud in the world of mobile and cloud-based identification. Focusing on low-friction security solutions, to a point where technology like its proprietary voice biometric engine could be described as invisible, ValidSoft’s attitude towards authentication is a great fit for FIDO.
In September, ValidSoft met a milestone that illustrates its position best: it introduced Zero Latency Correlation. The solution is a real-time cloud-based fraud detection solution for fraud detection and false positive reduction in mCommerce applications that include mobile wallets. The solution is “always on” and takes a multi-factor approach to reduce latency during authentication.
“Thanks to our unique security ‘by design’ approach and our ability to leverage advanced telecommunications capabilities and real-time invisible checks that do not involve the customer, we are allowing payment processors to provide stronger verification and authentication, without negatively impacting the consumers’ experience,” explains Pat Carroll, chairman of ValidSoft.
Michael Barrett comments on the Alliance’s newest member: “The FIDO vision of universal strong authentication promises better security, enhanced privacy, more commerce and expansion of services throughout digital industries. ValidSoft’s contribution to our Alliance supports our industry goal to make user authentication easier and safer for all parties.”
Recently ValidSoft took steps in broadening the definition of “invisibility” when it comes to mobile authentication, having been granted a UK patent for Dual SSID wireless authentication, which involves credentials being issued on a visible wireless network that grant access to a secret invisible one. New and innovative ideas like this make ValidSoft and obvious fit for the diverse Alliance as it moves forward into what is expected to be a year that sees new identification methods in the hands of end users everywhere.