Fast Identity Online Alliance Gets a New Member with Discover Financial Services Joining the AllianceBanker Resource
December 18, 2013 — 1,206 views
Discover Financial Services is a payment and direct banking services company and is one of the most well-known brands in the US financial services market. Since it was founded, the organization has been very successful in becoming one of the largest issuers of cards in the US. FIDO, or Fast Identity Online Alliance, on the other hand is a company which was formed to address the problem of the lack of interoperability between strong authentication techniques, and solve the difficulties that the users face while creating and memorizing multiple passwords and user-names.
The news of Discover joining the FIDO alliance came as a very positive development in the field of finance. They have been included formally into FIDO's board of directors. They have become the 13th member of the alliance which was announced recently by the members of both the organizations. Discover has joined a strong international ecosystem in delivering the open standards for a meaningful certification to the marketplace for a simpler user experience that is much more private and secure.
Consequences of Latest Developments
People working in both these companies accept the fact that with the execution of a secure and fast method of authentication will help them serve their customers better as well as protect their classified information which will indirectly improve the whole experience of the customer.
Specifications of FIDO Authentication Techniques
Some of the open specifications of FIDO includes biometrics like the iris and fingerprint scanners, and facial and voice recognition. Some of the present communication and solution standards include the USB Security Tokens, Trusted Platform Modules, smart cards, embedded Secure Elements (eSE), Near Field Communication (NFC) and Bluetooth Low Energy (BLE). These specifications are designed so as to make space for innovation in the future and to keep the current investments safe. The specifications of FIDO permit the technologies to interact inside a single authority, which enables the security options to be tailor-made to the unique needs of each organization and user.
Discover, however, continues to be in the forefront of the financial services industry when it comes to service to the individual and innovation. Their allegiance to FIDO authentication will only improve the countless Discover users’ experiences, and provide the merchants of Discover with modern-day management controls over risk.