Working Group launch supporting RBI mandate on transactions.
India is ahead of the curve on authentication in many respects with the Reserve Bank of India (RBI) having mandated that online transactions above a certain threshold use two-factor authentication, said executive director of Massachusetts-based Fast IDentity Online or FIDO Alliance.
“India is ahead of the curve on authentication in many respects – the Reserve Bank of India, for example, mandates that online transactions above a certain threshold use two-factor authentication,” said Brett McDowell after launching FIDO India Working Group.
FIDO Alliance has announced on 8 May 2017 a partnership with the Data Security Council of India (DSCI) for the launch of the FIDO India Working Group to spread awareness of market-ready strong authentication standards and solutions in India.
“The launch of the FIDO India Working Group and the partnership with DSCI extends the FIDO Alliance’s global reach and will enable us to educate the Indian market on how FIDO authentication can help service providers meet such mandates, while vastly improving security and usability of strong authentication over solutions like one-time passcodes and digital certificates,” he elaborated.
It is vital to have a secure, open, scalable and interoperable set of mechanisms to reduce the reliance on passwords while also protecting user privacy, said FIDO Alliance.
These are important concepts that are enabling secure authentication practices in finance and other key industries; both within and outside the enterprise, it stressed.
On the creation of the partnership, Rama Vedashree, CEO, DSCI said, “With the proliferation of digital and mobile banking, secure and foolproof authentication is a key to reassuring consumers and building trust. We look forward to working with FIDO and its members in spreading awareness of stronger authentication standards.”
The FIDO India Working Group will be led by co-chairs Ramesh Kesanupalli, co-founder of the FIDO Alliance and founder of Nok Nok Labs, and Ashok Chandak, senior director of global sales and marketing at NXP Semiconductors.
At launch, 11 leading FIDO Alliance member companies active in the Indian market are participating in the FIDO India Working Group: Digit Secure, Feitian, FingerPrint Cards, Hypersecu, Intel Corporation, Nok Nok Labs, NXP Semiconductors, Persistent Systems, Redpine, Synaptics and Uniken, Inc.
FIDO authentication reduces organizations’ and users’ reliance on passwords with interoperable on-device authentication that is stronger and easier to use.
FIDO initiates regional working groups to help its members to identify and drive awareness for how FIDO standards can address in-market requirements.
The FIDO Alliance 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. fii-news.com
