BBVA and Nok Nok to implement FIDO security standard for mobile banking customers
BBVA and Nok Nok Labs, a firm that helped develop the Fast Identity Online standard, are partner ing to strengthen mobile banking security using biometric security.
Nok Nok will provide technology to BBVA to help with scalable authentication solutions and will allow BBVA to implement the new FIDO standard in its mobile and web-based banking services. The standard uses alternative authentication methods, such as facial recognition or fingerprints, rather than passwords for authentication.
"Traditionally, one of the biggest challenges of authentication systems has been to balance security with user experience," Juan Francisco Losa, global technology & information security officer at BBVA, said in a company release. "Due to the FIDO standard, we are confident that both elements work together seamlessly to provide customers with the highest security standards, along with a transparent and agile user experience."