TMCnet News
Nok Nok Labs, the Leader in FIDO-based Deployments, Experiences Record Momentum as Footprint Increases WorldwidePALO ALTO, Calif., April 11, 2018 /PRNewswire/ -- Nok Nok Labs, the leader in next-generation authentication and a founder of the FIDO (Fast IDentity Online) Alliance, today announced a record year following broad industry acceptance of FIDO specifications as the industry standard to address the friction, vulnerabilities, and lack of ease of use that results from the use of passwords for authentication. Nok Nok Labs achieved a greater than 200% increase in billings in 2017, resulting from increased customer deployments, new channel partner and VAR strategic relationships, and market momentum fueled by the proliferation of mobile devices and global regulations that require strong authentication for online services. "Nok Nok Labs has achieved significant milestones entering 2018 as strong demand for modern authentication solutions gain wider acceptance globally as a means to provide a frictionless and secure online experience," said Phillip Dunkelberger. "It's incredibly rewarding to have the world's largest and most successful banks, telcos, retailers, and healthcare providers seek our help to solve their user authentication challenges. With the proliferation of biometrics in mobile devices, our customers are seeing the tangible benefits of FIDO-based solutions to protect their users and accelerate their businesses." Customer Deployments North American, Asia-Pacific and European financial institutions, mobile network operators, ecommerce companies, and service providers must meet the requirements of their digital consumers that demand easy-to-use, safe and secure connections. Consumers also require a user experience that is frictionless, simple and fast. Enterprises need to address the user requirement for ease of use while at the same time mitigate phishing and other scalable attacks that are commonly caused by the use of passwords. Enterprises increasingly are testing and then deploying the FIDO-based biometric authentication solution from Nok Nok Labs – named the Nok Nok S3 Authentication Suite, to deliver the benefits of both ease of use and security to their worldwide customers. For example:
Added Resellers and Integrators During a record year for direct sales,
Addressing Global Regulations and Industry Standards A growing number of global regulations and industry standards also fuel the momentum in Nok Nok Labs deployments, as industry and governments look to fix the vulnerabilities caused by the use of username/password based solutions and technologies.
When Nok Nok Labs first invented FIDO-based technology that would replace usernames and passwords, it was clear that privacy and security would need to be at the heart of the solution. As a result, FIDO specifications require that a user's biometric template is never allowed to leave their personal device. This visionary requirement is a key benefit to those organizations looking to comply with GDPR. Additionally, FIDO protocols rely on the same cryptographic signatures required by PSD2 – thereby establishing customer identity through multi-factor verification and linking payment and approval. Therefore, financial institutions can use a FIDO-based authentication system to address compliance with the Strong Customer Authentication requirements of PSD2. The momentum from 2017 continues to accelerate in 2018, as consumers require enterprises to provide them with authentication that is easy-to-use, safe and secure, with a user experience that is frictionless, simple, and fast. Financial institutions, banks, system integrators, enterprises, mobile network operators, and online service providers all recognize they need to transition from their password-based authentication solutions of the past, to lower cost modern authentication solutions, that bring the benefits of interoperability, meet industry standards and global regulations, and provide greater security and privacy. Nok Nok Labs' latest release of Nok NokTM S3 Authentication Suite (Nok NokTM S3 Suite), due in Q2 2018, is the most broadly deployed FIDO-based platform, delivering secure, phishing-resistant, privacy-conscious authentication, with a password-less user experience that works with any application, any platform, and any authenticator – biometric, token or wearable. About Nok Nok Labs View original content:http://www.prnewswire.com/news-releases/nok-nok-labs-the-leader-in-fido-based-deployments-experiences-record-momentum-as-footprint-increases-worldwide-300627973.html SOURCE Nok Nok Labs |