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TheStreet Open House

Discover Financial Services Joins FIDO Alliance To Accelerate And Simplify User Authentication And Make Transactions More Secure

Stocks in this article: DFS

The FIDO approach ensures that Relying Parties (RPs), such as Discover, and their users have a variety of choices for better authentication that overcomes the prevailing reliance on passwords. FIDO authentication is designed with a core focus on privacy -- all biometric or personal identifying information (PII) stays local on the user’s device and is never shared to the cloud or over the network.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit  www.discover.com/company.

About The FIDO Alliance

The FIDO (Fast IDentity Online) Alliance, www.fidoalliance.org, was formed in July 2012 to address the lack of interoperability among strong authentication technologies, and remedy the problems users face with creating and remembering multiple usernames and passwords. The Alliance plans to change the nature of authentication by developing standards-based specifications for better authentication that define an open, scalable, interoperable set of mechanisms that reduce reliance on passwords. Better authentication is stronger, private, and easier to use when authenticating to online services.



Copyright Business Wire 2010
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