Next phase of growth powered by regulatory compliance and recent ecosystem partnerships.
Global adoption of passwordless authentication is accelerating due to regulatory compliance, security and user experience requirements, and recent advances from major computing ecosystem participants.
San Jose, CA – May 31, 2023 – Nok Nok, a leader in passwordless authentication for the world’s largest organizations, today announced strong 2022 results following the FIDO (Fast IDentity Online) industry introduction of passkeys, deployments with Fortune 500 companies and key partnerships in the government market that will accelerate the company’s next phase of growth. Nok Nok 2022 annual recurring revenue increased by more than 40% YoY, driven by expansion in customer deployments, and the addition of new vertical markets fueled by global regulations that require phishing-resistant authentication.
Innovative Passkey Support
As an inventor of FIDO specifications, Nok Nok and its S3 product suite have been in sync with advances in FIDO authentication. With the introduction of FIDO passkeys in 2022, Nok Nok announced the:
- same safety and convenience of using biometrics to access your device as for logging into web services.
- reduced attack surfaces by eliminating the most commonly stored credential – the password.
- ability to embed passwordless authentication in enterprise workflows reduces development and support time for customer facing applications.
- future integration capabilities that will include in-home devices such as Alexa, IoT device services, and physical access to buildings.
“We see new momentum in the FIDO marketplace due to the announcement of Passkeys last year,” offered Miguel Villaumbrales, Global Head of Digital Identity from BBVA. BBVA, a customer of Nok Nok since 2019 with a security-first mindset, has implemented Nok Nok’s FIDO-based biometric authentication in its award winning mobile banking services, including their smart watch applications.
Customer Deployment Spotlight
NTT DOCOMO, INC. has been a customer of Nok Nok since 2015. Under the slogan “Your Security, More Simple,” DOCOMO has improved the authentication user experience for a wide variety of DOCOMO services. In 2020, DOCOMO began offering a passwordless option by providing a password disable setting, and in April 2023, NTT DOCOMO began support for WebAuthn/Passkeys. DOCOMO’s adoption of Nok Nok’s FIDO solution enhanced the authentication user experience, toward DOCOMO’s goal of a “Passwordless World.”
New Partnerships to Address Growing Global Regulatory Compliance
2022 was the year that Nok Nok accelerated product development in order to meet the needs of government and highly regulated industries. Nok Nok announced a partnership with UberEther, a leading provider of identity and access management solutions to the federal government, to provide phishing-resistant authentication in UberEther’s FedRAMP High and DoD Impact Level 5 ready IAM Advantage platform.
Nok Nok also entered into a new partnership with Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®. Recent executive orders and regulations require federal government agencies to leverage phishing-resistant multi-factor authentication (MFA) solutions. Through Carahsoft’s reseller partners, and NASA Solutions for Enterprise-Wide Procurement (SEWP) and National Cooperative Purchasing Alliance (NCPA) contracts, federal government agencies will have access to Nok Nok’s FIDO-enabled and phishing-resistant multi-factor authentication (MFA) solution.
“From when we co-founded the FIDO Alliance in 2012 to where we see adoption today, it is truly rewarding to see industry-leading customers and partners deploying Nok Nok’s FIDO enabled solutions at internet scale to hundreds of millions of global end users,” said Phil Dunkelberger, CEO of Nok Nok. “It has been our best year for deployments, customer expansion and innovation with the shipping of the The Nok Nok™ S3 Authentication Suite Version 9. Recent market interest in our solutions has been driven by the introduction of FIDO-based passkeys, which is creating a global awareness of what interoperable, easy to use passwordless authentication can mean for the consumer experience. All of this momentum points to a more secure, easier to use experience for all users, and reduced complexity for IT and security teams.”
About Nok Nok
Nok Nok is a leader in passwordless customer authentication and delivers the most innovative FIDO (Fast IDentity Online) solutions for the passwordless authentication market today. Nok Nok empowers organizations to significantly improve their user experience and security, and reduce operating expenses, while enabling compliance with the most rigorous privacy and regulatory requirements. The Nok Nok™ S3 Authentication Suite integrates into existing security environments to deliver proven, FIDO-enabled passwordless customer authentication. As a founder of the FIDO Alliance and an innovator of FIDO standards, Nok Nok is an expert in next-level, multi-factor authentication. Nok Nok’s global customers and partners include AFLAC Japan, BBVA, Carahsoft, Fujitsu Limited, Hitachi, Intuit, Mastercard, MUFG Bank, NTT DATA, NTT DOCOMO, Standard Bank, T-Mobile, and Verizon. For more information visit NokNok.com.