|
Nok Nok Named Recipient of Frost & Sullivan's 2020 New Product Innovation Award for its Passwordless Consumer Authentication
Friday, April 2, 2021
Innovative Platform Removes Challenges with Sharing Biometric Information
SAN JOSE, Calif., March 31, 2021 /PRNewswire/ -- Nok Nok, the trusted leader in passwordless authentication, today announced it has been recognized with the new product innovation award for 2020, because of its efforts to empower organizations to deliver digital experiences to their customers through its passwordless authentication platform.
As the only recipient of the Frost & Sullivan 2020 Global New Product Innovation Award in the passwordless consumer authentication market, Nok Nok received the award for "properly addressing the challenges related to using passwords by providing an innovative passwordless authentication platform."
At a time when COVID-19 has resulted in the current market need to accelerate and expand remote workforces that are connected digitally, including an increase in online consumer transactions - passwordless authentication is seeing a significant surge in strategic importance. For example phishing attacks increased in 2020, making organizations more receptive to the idea of adopting multi-factor authentication solutions, including the use of biometrics. The Nok Nok(TM) S3 Authentication Suite (Nok Nok S3 Suite), which incorporates global industry standards including those from the Fast Identity Online (FIDO) Alliance, stores authentication credentials locally on the device, and removes the concern from employees and consumers about sharing their biometric information with an employer or other third parties.
Customer success with Intuit was referenced in the New Product Innovation Award: Intuit was looking for a seamless yet secure authentication solution to enhance user experience and reduce existing issues with personal identification numbers (PINs) and passwords. Intuit's strategy for identity management was a standards-based approach - Nok Nok was a perfect fit to leverage device biometrics for passwordless authentication. Intuit's Nok Nok rollout to its millions of users resulted in a 20% reduction in authentication time and 99.9% authentication success when compared to SMS/OTP, which ranged from 80 to 85% success.
"As the most widely deployed FIDO-based solution, the S3 Authentication Suite is a comprehensive consumer passwordless authentication platform. Nok Nok is focused on providing practical support to individual customer requirements. The company delivers enhanced customer value by constantly introducing unique features to its S3 Authentication Platform, such as adaptive policies, quick authentication, and single-developer API," stated Ram Ravi, Industry Analyst, Industrial Technologies, Frost & Sullivan.
The Product Innovation Award also recognized Nok Nok as co-founder of the Fast Identity Online (FIDO) Alliance, an open industry association with a focused mission: authentication standards to help reduce the world's over-reliance on passwords. Currently, the FIDO Alliance consists of over 250 members that include industry leading organizations around the world including Alibaba Group, Apple, Google, Intel, Mastercard, Microsoft, Oberthur Technologies, Qualcomm, RSA, and Samsung.
Frost & Sullivan identifies 4 key value propositions offered by Nok Nok that significantly enhance customer value:
-- Accelerate path to making passwords obsolete: Unlike competing solutions
in the market that do not address all use cases or "build-it-yourself"
models, Nok Nok's solution enables customers to deploy a practical
passwordless authentication solution in less time.
-- Platform-agnostic support: Nok Nok provides support for the entire
passwordless user lifecycle on any platform, enabling the broadest
spectrum of passwordless authentication use cases, including
frictionless on-boarding and progressive profiling, easy bootstrapping
of new devices, account recovery, and suspension and de-provisioning of
users. Other competing solutions in the market often only address a
small subset of customer use cases.
-- Proven and low risk: Having implemented many large-scale passwordless
deployments across the globe at scale supporting 10's of millions of
users for each customer, Nok Nok has significant experience in
successful commercial deployments for major authentication projects and
is seen in the market as a reliable and high-quality vendor by new
customers.
-- Scalable and future-proof platform: By leveraging a FIDO-based
specifications, organizations can take advantage of an industry standard
that is supported by platform vendors. This ensures that customers can
easily and cost effectively take advantage of ongoing innovation as new
devices and authenticators are released into the market.
"We knew when we started this journey to bring together high tech, banking and telecom companies to make the internet more secure and in a user-friendly way it would not be easy," said Phillip Dunkelberger, chief executive officer, Nok Nok. "The fact that FIDO standards and Nok Nok are now so globally accepted is a testament to the need for standards-based passwordless authentication solutions. We are honored that Frost & Sullivan recognized the innovation we bring to this front."
To learn more about Nok Nok S3 Suite or to try a free demo, please visit:
https://www.noknok.com/products/s3-authentication-suite.
About the Frost & Sullivan Award:
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
About Nok Nok Labs (Nok Nok)
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(TM) 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.
View original content:http://www.prnewswire.com/news-releases/nok-nok-named-recipient-of-frost--sullivans-2020-new-product-innovation-award-for-its-passwordless-consumer-authentication-301259639.html
SOURCE Nok Nok Labs
|
|
|
|
|
|
 |
Indusface redefines WAAP user experience with industry-first innovations in AppTrana | Mar 28, 2025
|
|
EXECUTIVE PRODUCER BRADLEY COOPER'S FILM CAREGIVING TO PREMIERE ON PBS FOR NATIONWIDE BROADCAST JUNE 24 STREAMING BEGINS MAY 27 | Mar 28, 2025
|
|
Trend Micro Launches Voice-Enabled ScamCheck Capability to Help Protect Consumers from the Rising Threat of Global Scams | Mar 28, 2025
|
|
Splitit Unveils First Fully Embedded White-Label Installment Solution for Shopify Merchants | Mar 28, 2025
|
|
/C O R R E C T I O N -- Bell Canada (MTL)/ | Mar 28, 2025
|
|
Keeper Security Unveils Latest WearOS App for Seamless Password Management | Mar 28, 2025
|
|
Leading Endpoint Protection Solutions for Combatting Cyberthreats Identified in Info-Tech Research Group's New Emotional Footprint Report | Mar 28, 2025
|
|
Hornetsecurity named Top Player in Radicati's Secure Email - Market Quadrant 2025 | Mar 28, 2025
|
|
Ontinue Research Reveals Ransomware Attacks Surged 132% Despite 35% Drop in Payments | Mar 28, 2025
|
|
Identity Theft After a Data Breach? Legal Action May Recover Your Losses | Console & Associates | Mar 28, 2025
|
|
|
|
