Latest news with #passwordless
Finextra
3 days ago
- Business
- Finextra
OneSpan acquires Fido passwordless software authentication solution provider Nok Nok Labs
OneSpan Inc. today announced the acquisition of Nok Nok Labs Inc., a leading provider of FIDO passwordless software authentication solutions. By joining forces with Nok Nok, OneSpan is driving the industry towards a more secure future, enabling customers to adopt a wide range of flexible, future-proof authentication options. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Combined with OneSpan's recently launched FIDO2 security keys, this strategic acquisition enables the Company to provide customers worldwide with the industry's most innovative, comprehensive, and future-ready authentication portfolio. Whether on-premises or in the cloud, OTP or FIDO, software or hardware—including Digipass, FIDO2 protocols, and Cronto solutions for transaction signing—OneSpan now offers customers maximum flexibility to meet their authentication needs. 'This is more than an acquisition — it's a bold step toward providing customers with maximum choice in authentication,' said Victor Limongelli, CEO at OneSpan. 'We're evolving our entire authentication platform to include FIDO standards because we believe passwordless is an important part of the future. With Nok Nok's world-class technology and FIDO expertise, we now offer the most comprehensive and versatile customer authentication solution on the market.' As a founding member of the FIDO Alliance, Nok Nok has been at the forefront of advancing passwordless authentication standards globally. With a customer base spanning the US, Asia, and Europe, Nok Nok delivers robust, standards-based security solutions trusted by leading enterprises. The company's strong authentication platform ensures seamless integration and scalability, supporting UAF and FIDO2 protocols to meet diverse regulatory and business requirements. Nok Nok leads the industry with innovative solutions that simplify secure user experiences across digital channels. 'Joining OneSpan marks an exciting new chapter for our team and our technology,' said Phillip Dunkelberger, President & CEO at Nok Nok. 'We've always believed that open standards like FIDO are an important part of the future of authentication, and with OneSpan's global reach and innovation engine, we're now poised to bring our vision to an even broader audience.' 'This is an exciting combination for the FIDO Alliance and the authentication market in general,' said Andrew Shikiar, Executive Director & CEO of the FIDO Alliance. 'Nok Nok has been a trailblazer in the FIDO ecosystem, and we're thrilled to see their innovation carried forward through OneSpan's global reach and resources.' With this acquisition, OneSpan plans to integrate the strengths of both companies into a unified, more powerful portfolio that delivers greater value to banking and enterprise customers.
Times
07-05-2025
- Business
- Times
Digital passkeys rollout means no more remembering passwords
Britain has taken a step towards a future without passwords after the government approved passkeys for use across its services and in Whitehall. Passkeys replace passwords with a unique digital key for each login that is tied to specific devices, such as a phone or a laptop, and are set up using biometrics such as facial recognition or fingerprints. Cybersecurity experts have been encouraging their use to thwart hackers who prey on the weakness of passwords. People often use short passwords or reuse them, enabling criminals to easily guess or take a stolen password to gain access to other accounts. If someone tried to steal a password or intercept a code, they would be unable to gain access without the physical device that contains the passkey. Hackers who attacked Marks & Spencer and the Co-Op are believed to have gained access by tricking IT help desk workers into resetting the password for an employee account. Passkeys would have protected against this type of hack. The technology industry is starting to adopt them as standard and this week Microsoft said that all new accounts would have passkeys as standard rather than use passwords. 'Although passwords have been around for centuries, we hope their reign over our online world is ending,' Microsoft said. The company said it was also much quicker to sign on with a passkey, taking only eight seconds, compared with 69 seconds using a password and second factor. Passkey technology has not been without its hiccups or drawbacks, however. Some users have found compatibility problems with them across platforms like Apple and Windows. The National Cyber Security Centre, part of GCHQ, said: 'Hackers will now focus on finding weaknesses in account recovery and reset requests, whether by email, phone or chat, and pivot to phishing for recovery keys.' On Thursday the government said it would be rolling out passkeys for its digital services later this year as an alternative to the SMS-based verification system. The Department for Science, Innovation and Technology (DSIT) will also clear the way for their adoption across Whitehall. The NHS became one of the first government services in the world to adopt passkeys. Feryal Clark, the digital government minister, said: 'The rollout of passkeys across services marks another major step forward in strengthening the UK's digital defences while improving user experience for millions.' Ollie Whitehouse, chief technical officer at the National Cyber Security Centre, part of GCHQ, called passwords 'a 60-year-old mistake', adding: 'The NCSC has a stated objective for the UK to move beyond passwords in favour of passkeys, as they are secure against common cyberthreats such as phishing and credential stuffing. 'We strongly advise all organisations to implement passkeys wherever possible to enhance security, provide users with faster, frictionless logins and to save significant costs on SMS authentication.'
Finextra
07-05-2025
- Business
- Finextra
ANZ scraps passwords for digital banking log-in
ANZ is scrapping password access to its digital banking arm ANZ Plus, replacing key-based log-ins with two-factor authentication. 0 Rather than typing in a password, customers will instead be able to access their ANZ Plus Web Banking through two authentication methods: either by using a passkey, which could be their fingerprint, face or mobile device PIN, or by entering their mobile number and approving a log-in request sent to their secure ANZ Plus app. ANZ Group Executive Australia Retail, Maile Carnegie says: 'The introduction of Password-less Web Banking will revolutionise the way customers access their bank account. Not only will it be easier than ever to log into your account, we're helping our customers bank with confidence knowing their accounts are secure. 'By introducing this change, we're helping prevent customer log in details from the risk of data breaches or phishing attacks - providing an extra layer of protection and one less thing for customers to worry about when it comes to banking security.'
