“By becoming a member of the FIDO Alliance, PrivyID is showing its commitment to a new model in user authentication that prioritizes both simpler and stronger user experiences,” said Andrew Shikiar, executive director and CMO of the FIDO Alliance. “We look forward to PrivyID’s contributions to the Alliance as we work to change the nature of authentication and strengthen identity verification processes.”
Founded in July 2012, The FIDO Alliance is an open industry association with a focused mission to create authentication standards to help reduce the world’s over-reliance on passwords. It aims to provide a safer alternative to passwords that is simpler for consumers to use and at the same time easier for service providers to deploy and manage. The FIDO Alliance currently has fifteen working groups, one of them the Identity Verification and Binding Working Group (IDWG), in which PrivyID plans to contribute.
The IDWG was established to provide authoritative guidance, performance evaluation, and certifications on new techniques for validating a user’s identity that meet the Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. A good example of this procedure would be the process of matching biometric “selfie” with government-issued identity, a solution that PrivyID has already implemented to 4.5 million of their users. Through direct partnerships with over 200 companies in Indonesia, including the nation’s largest banks and IT companies, PrivyID has enabled millions of Indonesians access financial and retail services securely and conveniently.
“We are excited to become part of the FIDO Alliance. We are certain that aligning strategic initiatives and innovations with the alliance would greatly assist us in providing a strong, integrated, and secured digital identity solution to our customers”, said Marshall Pribadi, Founding CEO of PrivyID. “We look forward to participating in a globalized knowledge exchange and engagement program with other members.”