RIVERWOODS, Ill. & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec. 17, 2013--
Discover Financial Services (DFS) and the FIDO (Fast IDentity Online)
Alliance, an industry consortium revolutionizing online authentication
with the first standards-based specifications, today announced that
Discover has joined the Alliance and been appointed to the Board of
Directors.
FIDO 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.
“The implementation of a fast and secure authentication method will
allow us to both serve our customers and protect their information
better, improving the overall customer experience,” said Daniel
Almenara, vice president of authentication and decision infrastructure
solutions at Discover. “Discover is committed to the continued
improvement of universal authentication standards. We look forward to
contributing the resources and expertise to these discussions on
stronger authentication and more secure methods.”
Open FIDO specifications will support a full range of authentication
technologies, including biometrics such as fingerprint and iris
scanners, voice and facial recognition, as well as 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 a single
infrastructure, enabling security options to be tailored to the distinct
needs of each user and organization.
“Our Board of Directors and the whole financial services community are
stronger today as we welcome Discover Financial Services to the FIDO
Alliance. With our rapidly growing body of members, Discover joins a
powerful global ecosystem in bringing open standards for strong
authentication to the marketplace for an easier user experience that is
more secure and private,” said Michael Barrett, president of the FIDO
Alliance. “True to its reputation, Discover continues to lead the
financial services industry in innovation and service to the individual.
Their commitment to FIDO authentication will improve millions of
Discover users’ experiences, and equip Discover merchants with advanced
management controls over risk.”
The FIDO approach ensures that Relying Parties (RPs), such as Discover,
and their users have a variety of choices for better authentication that
overcomes the prevailing reliance on passwords. FIDO authentication is
designed with a core focus on privacy -- all biometric or personal
identifying information (PII) stays local on the user’s device and is
never shared to the cloud or over the network.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America’s cash rewards pioneer, and offers home
loans, private student loans, personal loans, home equity loans,
checking and savings accounts, certificates of deposit and money market
accounts through its direct banking business. It operates the Discover
Network, with millions of merchant and cash access locations; PULSE, one
of the nation's leading ATM/debit networks; and Diners Club
International, a global payments network with acceptance in more than
185 countries and territories. For more information, visit www.discover.com/company.
About The FIDO Alliance
The FIDO (Fast IDentity Online) Alliance, www.fidoalliance.org,
was formed in July 2012 to address the lack of interoperability among strong
authentication technologies, and remedy the problems users face with
creating and remembering multiple usernames and passwords. The Alliance
plans to change the nature of authentication by developing
standards-based specifications for better authentication that define an
open, scalable, interoperable set of mechanisms that reduce reliance on
passwords. Better authentication is stronger, private, and easier to use
when authenticating to online services.
Source: Discover Financial Services
Media Contacts:
Discover
Laura Gingiss
224-405-0185
lauragingiss@discover.com
or
for
FIDO Alliance
Suzanne Matick
831-479-1888
suzanne@matick.net