Financial Services and Payments

Banks and payments services providers continue to evolve service delivery away from branches to online and mobile services, but
are constantly trading off fast and easy access with robust authentication security.

Online security based on FIDO Specifications turns that around and makes online security a simpler and better user experience
while providing stronger security and reducing costs for the enterprise.

Use Cases

Online Banking	Payment & Transfer	Mobile Banking	Trading

Benefits

SIMPLER USER EXPERIENCE

Reduces reliance on complex passwords

Single gesture to log on

Works with same devices people use every day

Use the same authentication with different services

Fast and convenient

STRONGER SECURITY

• Based on public key cryptography
• Keys stay on device
• No server-side shared secrets to steal
• Protects against phishing, man-in-the-middle and replay attacks

• Biometrics, if used, never leave device
• No link-ability between services or accounts
• No 3rd party in the protocol

REDUCED COSTS

• Lower development and maintenance costs
• Faster time to market
• Little or no provisioning costs
• Lower breach risks and potential damages

• Broad choice of authenticators for users
• Lowers password reset costs
• Increases future-proofing

Resources

Video: FIDO Explained	FIDO Certified Products Showcase	Webinar: Value of FIDO Membership

MORE RESOURCES:

• Case Study: Google’s two-year study of its deployment with security keys showed FIDO-based authentication is faster, has zero authentication failures, reduces hardware and support costs over OTP tokens, and provides all of the necessary privacy and security protections from phishing and man-in-the-middle attacks
• Response to the European Banking Authority EBA) Discussion Paper on Future Draft Regulatory Technical Standards on Strong
  Customer Authentication and Secure Communication