Daon Partners with Oracle to Enhance Digital Banking Security

Daon has formed a strategic partnership with Oracle to enhance digital identity solutions by combining their respective expertise in biometric technology and cloud infrastructure. The collaboration builds on Daon’s extensive track record in providing biometric authentication for major financial institutions and its recent expansion into health credential verification.

Founded by Irish entrepreneur Dermot Desmond, Daon began operations in Dublin before expanding globally, establishing its U.S. headquarters in Fairfax, Virginia. The company has since developed an international presence with offices in Serbia and Australia, while maintaining operations at Dublin’s International Financial Services Center.

The company’s growth trajectory included several significant milestones, including former U.S. Secretary of Homeland Security Tom Ridge joining its board in 2006 and the acquisition of Enterprise Air’s software assets in 2008. By 2015, Daon had secured Atom Bank as a client, and by 2017, major financial institutions including Visa, Mastercard, and USAA had implemented Daon’s IdentityX platform.

The new partnership with Oracle integrates Daon’s IdentityX platform with Oracle’s identity management solutions, specifically focusing on digital banking security. The collaboration uses Oracle Cloud Infrastructure (OCI) to host Daon’s biometric authentication services, while implementing FIDO2 WebAuthn standards for enhanced security protocols. The implementation follows the growing industry trend toward passwordless authentication in banking, which is seeing increased adoption across the financial sector.

Through this integration, Oracle-protected applications can now leverage Daon’s biometric authentication methods, including facial and fingerprint recognition. The partnership also emphasizes Identity Continuity, providing continuous access management across various channels, a concept that Daon has been developing through its work with multiple financial institutions.

The collaboration offers several technical advantages, including enhanced security through integrated biometric technology, passwordless authentication options, and scalable deployment capabilities through Oracle’s cloud infrastructure. The combined solution addresses regulatory compliance requirements for identity verification while supporting ongoing innovation, with Daon currently holding over 285 patents in identity verification and authentication processes.

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December 12, 2024 – by the ID Tech Editorial Team