Verified identities bound to strong authentication will enable more services, better security and customized experiences in 2023. In this talk we will look at the following segments:
- Authenticated Payments – how FIDO works with delegated authentication for 3DS, how it improves SRC and tokens. Explain why FIDO should be a key enabler for FedNow real-time payments in 2023.
- Crypto – Strong authentication is required to protect crypto accounts and FIDO provides easier access to prevent lockout. Strong authentication bound to identities connected to smart contracts enables a new range of applications. We’ll provide an update on our progress with Crypto partners.
- Device Provisioning – Mobile phones can be provisioned by performing identity proofing that is bound to a FIDO Authenticator and the embedded SIM. This creates an identity that can be easily used across contexts. In 2023, the combination of FDO (FIDO Device Onboarding) and ESIM provisioning will enable a new range of IoT applications based on the owner’s identity.
- Government – In 2021, COVID programs resulted in massive fraud due to weak identity validation and weak authentication. The US and other governments are moving to stronger solutions. Proven identities bound to one or more FIDO devices will provide better security and better consumer experiences.