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Home / Industry News / Application of Modern Password Authentication: Examples From Nok Nok

Application of Modern Password Authentication: Examples From Nok Nok

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    Nok Nok News
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    2 Mar 2022
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Industry News

Billions of dollars are spent on legacy perimeter-based security annually, yet data breaches and theft continue to accelerate. These security risks are among the threats that institutions, especially those dealing with finance, need to address. Not only will solutions protect the organization itself, but they will also ensure the trust and safety of consumers – a top five 2022 priority among VP, C-suite and other enterprise executives.

Going Password Free

For many years, we have been relying on the use of passwords and knowledge-based-access (KBA) to verify user identity before granting system access. With its addition, while MFA has helped in protecting users against many types of attacks, the attack strategies of criminals evolved to find additional ways to take over accounts and conduct data breaches and identity theft.

Modern, phishing-resistant authentication (also referred to as “passwordless authentication”) is now a leading priority to improve security. Generally, it involves a consumer-centric approach to verify user identity without the need to capture, store and transmit passwords, personal secrets and other sensitive user data. This modern authentication approach involves cryptographic keypairs combined with one-time passwords (OTPs) and device-level biometrics that verify users on devices requesting access to digital services in a way that dramatically decreased user friction related to account setup and sign-in.

The advantages of going password-free can be experienced by both the institution and the users. As it offers dramatically reduced user-friction with defense-grade security, both the user experience and enterprise performance improve significantly. Enterprises implementing modern, phishing-resistant identity and authentication report authentication success rates of 99.5%, speed improvements in account signup and authentication of 50% or more and decreases in CSR calls and password resets of 60% or more. Both users and enterprises report dramatically improved consumer satisfaction in high value operating environments and payment transactions.

Nok Nok and Passwordless Authentication

Joining multiple members of the financial technology industry, Nok Nok participated in the recently conducted Authenticate 2021. Aside from being a participant, Nok Nok also served as a presenter.

During the presentation, attendees have seen some examples of real-world applications of password-free authentication. These are all based on Nok Nok’s customers’ experience.

  • Intuit TurboTax®: The partnership between Intuit and Nok Nok has addressed the former’s problem with a high level of friction during the creation of a new account. By leveraging the mobile App for passwordless Sign-Up, the company has seen a 10% increase in Sign-Up conversions. The Sign-Up time has also shown a 50% reduction.
  • T-Mobile: Forgotten passwords and account pins are among the problems many users experience. By incorporating FIDO-based biometrics and out-of-band push authentication, there has been at least a 65% reduction in account recovery requests within three months.
  • Fintech: Among the common problems causing friction to user experience is the complex login requirements, such as the use of passwords and SMS OTPs. Enhancing platform authenticators through FIDO passwordless authentication during web Sign-In, the Sign-In speed increased by 8x. Additionally, there was a 40% increase in users during the first month.
  • Major Bank: Financial institutions are also increasingly targeted by cyberattacks, especially for fraudulent activities. The use of modern FIDO biometrics and application pins for secure access via a mobile app has helped reduce fraud incidents. The app user reviews rating has also seen an improvement. Since one-time password resets are dramatically reduced, OPEX costs of decreased SMS OTP were reduced as well.
  • TEPCO Power Grid: Ensuring security is a must for the power grid. However, encouraging the use of complex passwords which are deemed “secure” slows down maintenance workers. To address this problem, Nok Nok and TEPCO leveraged modern web browser and device biometric authentication. Not only did this approach offer safe Sign-In experiences, but it also increased the speed and simplicity of account registration, account creation and sign-in as well.
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“Transactions using mobile devices are rapidly spreading and it is essential to support both usability and security. By combining Hitachi’s abundant system development capabilities and know-how in the financial system and security related fields, and Nok Nok’s globally deployed and proven FIDO certified products, we achieved this compatibility, which led to this adoption.”

– Mr. Nobuo Nagaarashi, General Manager, Financial Information Systems 1st Division, Hitachi, Ltd.

 

The M in MUFG stands for Mitsubishi, which is a combination of the words mitsu and hishi. Mitsu means three. Hishi means water chestnut, and the word denotes a rhombus or diamond shape.  In partnership with Hitachi, MUFG has enabled passwordless authentication solutions across many of the bank’s apps and services.

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“As an early adopter of FIDO, we’ve seen significant business benefits and are completely on board with continuing to leverage the latest FIDO innovations with our partner, Nok Nok.”

– Rakan Khalid, Group Product Manager, Identity.

 

Intuit has delivered passwordless authentication across mobile applications and devices using Nok Nok’s S3 Suite. The results have reduced customer friction in their Intuit application experience.

Read The Nok Nok Intuit Case Study
Watch the FIDO Alliance Webinar: The Right Mix
Watch Marcio Mello discuss Intuit’s Nok Nok implementation at Identiverse 2019:
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“DOCOMO is a worldwide innovator in providing its millions of customers with simple and strong authentication backed by a standards-based approach.”

– Phillip Dunkelberger, President & CEO of Nok Nok Labs.

 

As one of Nok Nok’s earliest customers, NTT DOCOMO became the first carrier to offer a billing system that is enabled by FIDO, the first to offer a federated Identity system integrated FIDO, and was the first to offer a mobile device that authenticates via the iris biometric modality.

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“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.”

– Juan Francisco Losa, Global Technology & Information Security Officer.

Nok Nok partnered with banking leader, BBVA to improve the security and user experience of the bank’s mobile banking services through state-of-the-art biometric capabilities.

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“We can no longer rely on passwords for our financial or other sensitive transactions as they are weak, forgotten and easily hacked. We are very pleased with SoftBank’s decision to choose our standards-based authentication platform for their millions of customers.”

– Phillip Dunkelberger, President & CEO of Nok Nok Labs.

 

Millions of SoftBank’s mobile subscribers now have the ability to use biometrics for authentication through the mobile application “My SoftBank Plus”. With this implementation, SoftBank’s mobile users access data with the My SoftBank service using biometrics for a frictionless, simple and fast authentication experience.

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“Aflac is the first Japanese insurance provider to deploy a FIDO-certified solution, and we would like to continue collaborating with Nok Nok Labs to introduce it to banks, insurance industry and other industries.”

– Michihiko Ejiri, VP, Head of Portal Service Division, Service Technology Unit, Fujitsu Limited.

With the Nok Nok S3 Suite, Fujitsu has provided Aflac customers with strong authentication to their mobile claims payment application using any biometrics on their iOS and Android devices. The solution also provides Aflac and their customers with a scalable method to authenticate users that is interoperable with their existing security environments and reduces or eliminates the reliance on usernames and passwords.

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“For our customers, we only use the most secure products on the market that meet their requirements. Nok Nok perfectly aligns within our product portfolio and we are proud of the very trusted partnership.”

– Lukas Praml, CEO of YOUNIQX.

 

YOUNIQX Identity AG, the award-winning subsidiary of the Austrian State Printing House (OeSD) and Nok Nok partnered to deliver a electronic identity system (eID) for the citizens of the country of Liechtenstein.  This deployment represents the first time that Nok Nok’s FIDO platform has been used to deliver an eID.

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“Nok Nok’s state-of-the-art, standards-based platform will deliver a tremendous user experience,”

– Steve Bell, Chief Technology Officer at Gallagher

When a horse called Joe took too much of a liking to using a car as a scratching post, owner Bill Gallagher Sr. devised a cunning electrical circuit that delivered a shock whenever the horse rocked the vehicle, and in doing so created a company.  Today, with passwordless authentication from Nok Nok, Gallagher is leading the IoT industry with innovative solutions that work in your office and in the outback.

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“Our Forgot Password flows were running at about 65%. After we rolled out FIDO by Nok Nok, our forgot passwords dropped to 7%.”

Michael Engan, T-Mobile

 

Using the Nok Nok S3 Suite, T-Mobile has become a leader in carrier adoption of passwordless authentication. Their solutions have reduced forgotten passwords and dramatically improved customer satisfaction.

Watch Michael Engan from T-Mobile talk about their implementation of Nok Nok’s S3 Authentication Suite at Identiverse 2019.

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