LoginID recently announced that several new partners would incorporate their Strong Customer Authentication platform that is UAF and FIDO2 certified. With the platform, their new partners would no longer need traditional passwords and logins.
The New Partners
LoginID’s new partners were announced as part of their “FIDO-as-a-Service launch” for small and medium-sized businesses. Recently, the company also announced its entry into the Indonesian market with ASLI RI, an eKYC leader. Its new partners will integrate the UAF and FIDO2 certificated biometric strong customer authentication for various use cases.
Benefits for its New Partners
When the new partners integrate their customer-authentication service offered by LoginID, they will reduce their dependence on password and logins, which are generally weak. A recent study by the FIDO Alliance found that 64% of customers and 78% of P2P transfer users prefer stronger authentication, compared to traditional passwords and logins.
Thanks to the partnership with LoginID, the new partners can offer customers better confidence and higher security, which will eliminate the need for logins and passwords. According to the CEO of LoginID, their partners were in search of low-lift integrations, which is what they offer. He added that their customer authentication solution could be integrated in less than an hour, which will provide a frictionless user experience.
The Use of Cryptographic Security
Unlike existing biometric solutions, the LoginID solution uses cryptographic security that is based on a user’s device hardware. The result is that it cannot fall victim to OS takeovers and hacks. Their solution does not require any extra downloadable software or hardware by the customers. The result is a smooth customer experience where customers can use their fingerprint scanner to log in to their site or apps. Thus, it eliminates the need to remember passwords or other weak login methods.
Who are the Partners?
The new partners include:
Execuvault
A fintech startup based in Toronto that aims to change the legacy system of transfers using the blockchain. To achieve this they use smart contracts that record the terms set by users and validate the criteria for assignment and disbursement. With their technology, funds can be digitally notarized and irrefutable, making it possible to carry out transactions among anonymous and disparate partners with a central authority.
NetCents Technology
The company provides a simplified solution that allows merchants to accept crypto payments. According to the Executive VP of NetCents Technology, working with LoginID will help them boost the security of interactions between merchants and customers.
Global Asset Technology
The company has created an asset-based crypto token, which can be used toward traditional assets. The CEO of the company said that the LoginID solution would allow them to facilitate secure interactions for their institutional clients that require simple but rigorous security.
Other partners now include Data on Tap, POS Connect, and FroogalPay. Data on Tap is a Canadian telecom company working on customer mobile services. POS Connect deals with software development in payment processing. Finally, FroogalPay is a middleware provider for software developers looking for an easy and quick way to receive payments within their app. The company is working on 125+ payment gateways.
In the coming weeks, LoginID plans to add new features and functions for developers and partners.
Image Source: Pixabay
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