The South African banking-security firm Entersekt has joined a group of companies seeking to develop alternative methods of online authentication.
The Fast Identity Online Alliance, or FIDO, is working to develop standards for digital authentication that would replace the password and leave individuals and businesses less vulnerable to security breaches. Entersekt said Wednesday that it has become a sponsor member of
FIDO was established in July 2012 to address the overreliance on passwords. It seeks to develop standards and protocols for a new form of authentication that would replace passwords and improve online security. Entersekt has developed an application, called Transakt, designed to help verify mobile payments, the news release said.
"Through the experience Entersekt has gained in building real-world, mobile authentication solutions for the financial services industry, we can, I believe, play a valuable part in the shaping of the FIDO specifications," said Christiaan Brand, Entersekt's chief technology officer, in the news release.
