Digi-Sign Certification Services (Digi-Sign), a wholly-owned subsidiary of Tradelink, together with Daon, an innovator of authentication and identity assurance solutions worldwide, announced that they have successfully implemented a FIDO biometric solution for one of the largest banks in Hong Kong. The solution replace
Digi-Sign Certification Services (Digi-Sign), a wholly-owned subsidiary of Tradelink, together with Daon, an innovator of authentication and identity assurance solutions worldwide, announced that they have successfully implemented a FIDO biometric solution for one of the largest banks in Hong Kong. The solution replaces the need for creating and remembering passwords, thus establishing a convenient yet secure user experience for the bank's mobile banking customers. The bank confirmed that since the successful deployment in December of 2016, customer adoption has been rapid and has exceeded expectations.
“Daon's partnership with Digi-Sign demonstrates our continued commitment to deliver the most advanced authentication technology to the banking industry,” said Tom Grissen, CEO, Daon. “We are proud to work with smart partners like Digi-Sign who have a deep expertise in security and a strong understanding of the market.”
Due to the positive customer adoption and satisfaction, the use cases and user groups are being expanded to support a broader range of access and transaction approvals within the bank's digital channels.
The Fast IDentity Online (FIDO) standards-based solution supports the FIDO Universal Authentication Framework (UAF) protocol. Representatives from Digi-Sign and Daon consulted the local regulatory authority to ensure the authentication solution met the regulatory requirements.
Building on the success of this major bank deployment, the Digi-Sign and Daon partnership has been selected to implement similar biometric FIDO solutions for multiple financial institutions in the region.
"We offer banks and their customers a more comprehensive solution that ensures security of mobile transactions,” said Andrew Cheng, CEO, Digi-Sign. “Our solution is scalable and able to fully accommodate the needs of banks in terms of extending the applications of biometric authentications to other areas, such as transactions scope (e.g. online account management, fund transfers and payments), channels (online or mobile banking) and customer segments (corporate or personal).”
Cheng added, “Thanks to our partnership with Daon, banks can also choose multi-modal biometrics solutions including facial recognition, voiceprint and fingerprint. There's no doubt the banking industry is undergoing a massive transformation as a result of the rapid development of FinTech. Currently, our team is proactively exploring new opportunities with banks for future collaboration.”