BBVA, a Spanish multinational banking group, announced on Tuesday it has partnered with the authentication solutions company Nok Nok Labs to further strengthen the use of biometric authentication on its mobile banking services.
BBVA reported that through this agreement, Nok Nok will provide BBVA with a series of technological capabilities, which will allow the bank to continue offering secure and scalable authentication solutions that put user privacy at the center of its mobile banking services.
“In addition, the agreement with Nok Nok will allow BBVA to implement the new FIDO (Fast Identity Online) standard in its mobile banking services, which reinforces the security of biometric authentication systems in web and mobile applications. This standard, promoted by the FIDO Alliance, allows alternative identification systems, such as fingerprint or facial recognition, to be used instead of passwords in a comfortable and secure manner.”
While sharing more details about the collaboration, Juan Francisco Losa, BBVA’s Global Technology Information Security Officer, stated:
“Traditionally, one of the biggest challenges of authentication systems has been to balance security with user experience. Due to the FIDO standard, we are confident that both elements work together seamlessly to provide customers with the highest security standards, along with a transparent and agile user experience. In this way, we can improve the ability of our clients to interact with us in a more natural way.”
Phillip Dunkelberger, CEO of Nok Nok, went on to add:
“Having a simple and robust authentication process on mobile devices is integral for protecting customer privacy. We are very proud to partner with BBVA and this is a fantastic collaboration for Nok Nok because it will allow us to introduce the latest innovations in authentication for customers, through a simple, transparent and secure experience. This agreement will allow us to continue expanding our international presence.”