Nok Nok Labs Delivers the “Power of 5” with 1H2021 Major Momentum & Milestones
Early visionary and co-inventor of the globally adopted FIDO standards accelerates sales, product innovation, and customer expansion
SAN JOSE, CA, July 14, 2021 – Nok Nok Labs (Nok Nok™), the trusted leader in passwordless authentication, today announced major market momentum with a number of landmark achievements:
When Nok Nok co-invented and deployed products that included the first FIDO authentication standards in 2014, the journey began with a vision to deliver ease of use, with stronger security and increased privacy. Since then, Nok Nok has played a leadership role in innovating and widely deploying the solutions that have helped create momentum for the adoption of FIDO standards today. Because compromised username and password credentials continue to be the source of more than 80% of breaches and with the increasing concerns about privacy, as evidenced by the unprecedented trends of users opting out of behavior-tracking applications, never before has the need for identity, privacy and strong authentication been more critical.
“As an inventor of FIDO standards, we helped start this journey because we felt that the internet could not be fully secure without first fixing the password problem,” said Phillip Dunkelberger, CEO of Nok Nok Labs, Inc. “FIDO standards have now been embraced by the world’s largest browsers, operating systems, banks, fintech’s, MNOs and software application providers who need to adopt, deploy, and manage a more secure authentication solution that is focused on stronger security and privacy. Our FIDO-certified solutions lead the industry and are deployed at internet scale – with support for the broadest set of use cases.”
Nok Nok customers report tangible business benefits from these deployments including greater security and increased regulatory compliance, in addition to higher levels of customer satisfaction and engagement. This has been demonstrated through measurable results to organizational effectiveness that include:
Passwordless authentication has seen a significant surge in strategic importance due to the recent pandemic which accelerated and expanded the need for digitally connected remote workforces––including an increase in online consumer transactions. The Nok Nok™ S3 Authentication Suite (Nok Nok S3 Suite) incorporates and goes beyond global industry standards like FIDO. The Nok Nok S3 Suite is the most widely and globally deployed FIDO-certified solution that has powered billions of consumer authentication events for global banks like BBVA and Standard Bank, and for Telco’s like T-Mobile and NTT DOCOMO, and for other leading customers and partners in various industries.
“Nok Nok Labs helped pave the way for the right players to come to the table (Apple, Google, Microsoft, and others) and has developed solutions that accelerate the adoption of standards-based authentication,” said Jonathan Nguyen-Duy, Vice President, Global Field CISO Team at Fortinet and Advisor to Nok Nok Labs. “I am honored to have recently joined their Business Advisory Board. Nok Nok’s leadership in co-inventing FIDO standards and having the most widely deployed FIDO-based platform has provided a launchpad for the adoption of passwordless authentication solutions.”
About Nok Nok Labs
Nok Nok is the trusted leader in passwordless consumer authentication to the world’s largest organizations. Delivering the most innovative authentication solutions in the market today, Nok Nok empowers global organizations to improve the user experience to access digital services while meeting the most advanced privacy and regulatory requirements. The Nok Nok™ S3 Authentication Suite integrates into existing security environments to deliver a proven, cost-effective, future-proof, and standards-based passwordless consumer authentication solution. Headquartered in Silicon Valley, California, the company has delivered unique inventions and innovations that are protected by a robust global patent portfolio. As a founder of the FIDO Alliance and an inventor of FIDO specifications, Nok Nok is the expert in deploying standards-based authentication, and its industry-leading customers and partners include BBVA, DDS, Inc., Ericsson, Fujitsu Limited, Hitachi, Intuit, Lenovo, MTRIX GmbH, NTT DATA, NTT DOCOMO, OneSpan, SoftBank, T-Mobile, and Verizon. For more information, visit www.noknok.com.