OneSpan’s FIDO authentication technology has been selected for an initiative under which participating banks in Japan’s TSUBASA Alliance will build a shared authentication infrastructure for their mobile personal banking apps, the company said. OneSpan already supplies cloud FIDO authentication to Sumitomo Mitsui Trust Bank, where it protects login and transactions in the bank’s mobile app under a deployment led by systems integrator SCSK.
FIDO authentication uses public-key cryptography to provide phishing-resistant sign-in, letting customers log in with their device’s built-in security features, such as platform biometrics. Under the TSUBASA initiative, participating banks can adopt FIDO-based authentication on shared infrastructure rather than each deploying their own, which OneSpan said is intended to make implementation more efficient and keep authentication security consistent across the banks. OneSpan did not name the participating banks or give a launch date.
The TSUBASA Alliance is a collaboration framework for Japanese regional banks that does not involve management integration. It was launched in October 2015 by Chiba Bank, Daishi Bank, now Daishi Hokuetsu Bank, and Chugoku Bank, and now has 10 members: Chiba Bank, Daishi Hokuetsu Bank, Chugoku Bank, Iyo Bank, Toho Bank, North Pacific Bank, Musashino Bank, Shiga Bank, Bank of the Ryukyus and Gunma Bank.
OneSpan said banks are prioritizing stronger authentication as account takeover attacks and phishing fraud continue, and that it plans to keep investing in its products and working with local technology partners to make FIDO authentication and passkeys broadly available across Japan. Its DigipassONE Authenticate product offers several ways to deploy FIDO authentication and passkeys to fit an organization’s technical, operational and regulatory requirements, and is part of the DigipassONE platform the company introduced in July, which brings one-time passwords, FIDO2, Digipass authenticators and Cronto transaction signing under one administration layer.
“Financial institutions need authentication that strengthens security without compromising the digital banking experiences customers expect,” said OneSpan CEO Victor Limongelli. “The TSUBASA Alliance joint initiative demonstrates how a shared approach can help regional banks advance authentication more efficiently while addressing evolving security requirements. We’re proud that OneSpan has been selected to support this initiative and to bring our experience in FIDO authentication and financial services to Japan’s regional banking market.”
Sources: Business Wire
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By the ID Tech Editorial Team
