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IdentityVerification IDV + Passkeys.pptx
- 1. Michael Watson Director ofSales Engineering SEA & ANZ IDV + Passkeys Identity. Proven. Trust.
- 2. Company & PartnerConfidential About Daon 2 250 Million+ daily authentications 150+ top financial customers 1 Billion+ identities secured 280+ global patents 100+ biometric algorithms Founded in 2000 FIDO Alliance board member since 2014 Technology Partner for eKYC and FIDO Authentication to Polarify since 2017
- 3. Company & PartnerConfidential Daon – The Digital Trust Company 3 Consent Agree & Proceed APPROVED Face Capture Technology You Can Trust Onboarding / eKYC made easy Identity verification, authentication, and beyond Industry-leading document verification Maximum presentation attack defense True cross-channel support including telephone Out-of-the-box compliance internationally FIDO based multi-factor authentication Our technology – Your brand
- 4. Company & PartnerConfidential Trusted by industry leaders globally London, United Kingdom Tokyo, Japan Pittsburgh, USA Fort Worth, USA Miami, USA Dublin, Ireland Sao Paulo, Brazil Mexico City, Mexico Quezon City, Philippines Note: A sample of Daon customers shown Medellín, Colombia Madrid, Spain Stellenbosch, South Africa Edinburgh, UK Tel Aviv-Yafo, Israel Doha, Qatar Pasig, Philippines Tokyo, Japan London, United Kingdom Lagos, Nigeria Grand Rapids, USA Cologne, Germany Yerevan, Armenia Singapore Dublin, Ireland Dublin, Ireland Sydney, Australia Melbourne, Australia Melbourne, Australia Invercargill, New Zealand Melbourne, Australia Hong Kong, China Sydney, Australia Melbourne, Australia
- 5. Company & PartnerConfidential Identity Continuity Unified holistic customer view throughout the customer lifecycle. Bind Identity to Passkeys during eKYC. Optimal customer experience. Minimal security risk. Better engagement and consistent user experience Reduced costs – single platform, single customer view, lower TCO Better fraud prevention and cross-channel security Acquistion Recovery Digital Onboarding/ID Verification / eKYC Ongoing Strong Authentication Using FIDO Passkey Technology APPROVED Enrollment In Strong Authentication Single Customer Identity 5 OFFICIAL ID ABC-123-XZ-0 REGISTER
- 6. Company & PartnerConfidential How to Successfully ID&V an Individual Photo Authentication Result + = 6
- 7. Company & PartnerConfidential Passkey for Eliminating Customer Pain Quick and Easy Login −User-Centric Experiences −Intuitive, Familiar and Fast −Low Error Rates −Replaces username and password −Doesn’t break with reset – syncs to new devices Valuable security features −Phishing-resistant −No shared secrets Sign in Cancel Do you want to sign in with a passkey? Jane Doe123 Passkey Sign in 7
- 8. Company & PartnerConfidential Passkey for FIDO2 – Portable Private Keys Passkey Private Keys are Portable −Private Keys Protected by the Recovery Processes Implemented by the user’s Credential Manager (Apple, Google, 1Password, LastPass etc) −By default Relying Parties have no visibility into the device associated with the Passkey (Device Public Key) Regulated Industries can still benefit, but need to address risks Source: Passkey Whitepaper MULTI-DEVICE FIDO CREDENTIAL + A A C Synced Key Device-bound Key (Optional extenstion) FIDO Credential A B + FIDO Credential X FIDO Cred Y FIDO Credential SINGLE-DEVICE FIDO CREDENTIAL Z FIDO Credential Non-synced Key 8
- 9. Company & PartnerConfidential Passkeys - part of but not the full solution for Regulated Industries 9 Challenges Beyond Passkeys Authenticator binding to identity – collusive fraud Device Public Key unlikely to be widely supported Demonstrating account takeover prevention to a regulator Preventing fraud where there is collusion with the user (e.g. Mule Accounts) Unauthorised synced devices Provision of an independent 2nd factor in the event a device is compromised Transaction confirmation with strong audit trail Compromise of a credential provider account
- 10. Company & PartnerConfidential How customers mitigate the issues 10 To recap, Passkeys are a great answer to the password problem − Elimination of username & password However, Passkeys generally only provide moderate strength multi-factor customer authentication solution, so the challenge is to enhance passkeys to: − Offer strong multi-factor authentication − Trusted Device + Face − Trusted Device + Secure Remote Passcode − Add some capabilities missing from default passkeys − Detect when cloud synced passkeys are used on an untrusted device – mitigate the dependency on credential provider account recovery process − Server Control of Authentication − Transaction Signing
- 11. Company & PartnerConfidential UK Bank Business Success Case Study 11 Adoption • 10m customers registered for FIDO Authentication (MFA) • 11m transactions processed per day using FIDO with 100m transactions per month • 6m+ customers registered for Face Server Biometric since March 2021 on an opt-in basis • Customer success rate > 98%+ on Android and iOS • Voice Biometrics rolled out in Q3 2024 Convenience • Improved, consistent user journey across channels • Account and device recovery • Reduce use of knowledge factors and eliminate use of card reader, SMS OTP • Support range of accessibility features Regulatory • Compliance with PSD2 Directive for Secure Customer Authentication • Compliance with GDPR Fraud Prevention • Prevent phishing and social engineering attacks • Up to three factor security with audit trail • Face/Voice Biometrics for step-up use cases Cost Reduction • Eliminate legacy platform costs including SMS and Card + Card Reader • Reduce time spent with call centre agents (KBA & Password reset)
- 12. Company & PartnerConfidential Who else is using server-side biometrics 12 Industry direction is to use server-side face/voice for high value transactions/purchases
Editor's Notes
- #2 Founded in 2000 with offices around the globe Serving millions of users on 6 continents Used by 150+ major financial firms Chosen to secure 1 Billion+ identities 250 Million+ daily authentications 225+ groundbreaking patents 100+ biometric algorithms
- #6 This is our formula for successfully authenticating an ID. The first step is to take a good quality photo of an ID The 2nd step is to authenticate the ID Finally, you are provided with the result. Seems easy enough, right? But the reality is that ID authentication is not easy. And that’s why there are customers who come into authenticating IDs thinking it’s really easy, but when they don’t get the results that they were hoping for, they get frustrated. So this begs the question - why is ID authenticaton so difficult, when it seems like it should be so simple? The answer is that there are a lot of complexities and nuances in each step. Let’s start with taking a good quality photo. It’s just point and shoot, right? Wrong.. What is the lighting? What angle is the light coming from? What ISO is being used? What’s the aperture and exposure? Is the proper focus being used? Taking a good photo of an ID that can be used for authentication is similarly complex. Let’s break it down into 3 major areas: