In less than two years from our launch in February 2013, the FIDO Alliance has attracted the world’s leading financial institutions to our ranks, along with global leaders in industry, security and technology. Today, we are very pleased to welcome Wells Fargo Bank to the FIDO Alliance, and we embrace their contributions to the compelling goal of achieving industry standards for strong authentication that is more secure, private and easier-to-use than passwords.
“Providing customers with choice, enhancing customer experience and ensuring the security of account information are at the foundation of our customer relationships,” said Christopher Clausen, SVP and Manager of the Fraud Prevention and Authentication Products Group for the Wells Fargo Virtual Channels Division. “As we continue to deploy new technologies that help customers succeed financially, our partnership with the FIDO Alliance helps us continue to deliver on these top priorities.”
Among the world’s leading financial institutions, Wells Fargo is committing to FIDO standards for strong authentication, along with other leaders in the financial sector, including Bank of America, Visa International, Discover Financial Services, MasterCard, and PayPal.
FIDO Alliance members commit to share technology and collaborate to deliver open specifications for universal strong authentication that enables FIDO-compliant authentication methods to be interoperable, more secure and private, and easier-to-use.
FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint, eye and iris scanners, voice and facial recognition, as well as further enabling existing solutions and communications standards, such as Trusted Platform Modules (TPM), USB Security Tokens, embedded Secure Elements (eSE), Smart Cards, Bluetooth Low Energy (BLE), and Near Field Communication (NFC). The open specifications are being designed to be extensible and to accommodate future innovation, as well as protect existing investments. FIDO specifications allow the interaction of technologies within an interoperable infrastructure, enabling authentication choice to meet the distinct needs of users and organizations.