iProov is pleased to announce that we have joined the FIDO Alliance, the industry association focused on reducing the world’s over-reliance on passwords.
Passwords have become increasingly unfit for purpose in a world where so much interaction is completed online and consumers are accessing large numbers of websites and apps.
Why are passwords unfit for purpose?
- Expecting consumers to follow the guidelines for creating passwords (make passwords unique for every important account, make passwords longer and memorable, avoid personal or common words) is no longer reasonable. In a Google survey, 51% of people admitted to reusing the same password for multiple accounts.
- As consumers increasingly rely on their browsers to remember passwords, the security risk increases - a laptop left unlocked, or that is compromised, potentially provides access to financial and reputation damage.
- Stolen and reused credentials are responsible for 80% of hacking breaches.
How is iProov enabling the move to a passwordless world?
iProov’s facial biometric technology replaces the need for passwords. With iProov, a user authenticates themselves simply and securely with patented technology. By illuminating the face with a sequence of coloured lights, we provide Genuine Presence Assurance.
What is Genuine Presence Assurance?
Genuine Presence Assurance allows governments, financial service institutions, travel providers, and other enterprises to confirm that an online user of a service is:
- The right person - the individual trying to access an account or service is the holder of that account and not an impersonator
- A real person - photos or masks are not being used to gain unauthorized access
- Present right now - the authentication is happening in real-time and is not a replay attack, where a video of a previous authentication is rerun to gain unauthorized access
Enterprises and public sector agencies around the world are using Genuine Presence Assurance from iProov to enable access to the most secure online services, from bank transfers to tax returns, without depending on passwords.
Which companies are FIDO members?
Other FIDO members include Apple, Amazon, American Express, Bank of America, Facebook, Google, ING, Intel, Mastercard, Microsoft, PayPal, Samsung, and VISA.