Lee, MA--March 7, 2014 --Wave Systems Corp. (NASDAQ: WAVX) today announced that it has joined the FIDO (Fast IDentity Online) Alliance, an industry consortium revolutionizing online authentication.
FIDO members commit to sharing technology and collaborating on the development of open specifications for universal strong authentication that enables FIDO-compliant authentication methods to be interoperable, more secure, private and easy to use.
"We're pleased to join the industry's most well-respected and forward-thinking technology and security companies in creating a more secure online experience for our customers," said Bill Solms, CEO of Wave Systems. "Wave stands behind the FIDO Alliance's mission of creating stronger, easier-to-use forms of authentication to bolster security efforts and looks forward to advancing this vision."
FIDO specifications will support a full range of authentication technologies, including biometrics such as fingerprint and iris scanners, voice and facial recognition, as well as existing technologies, such as Trusted Platform Modules (TPM), USB security tokens, smart cards, Bluetooth low energy (BLE) and Near Field Communication (NFC). The open specifications will be extensible and designed to accommodate future innovation, as well as protect existing investments. FIDO specifications allow the interaction of technologies within a single infrastructure, enabling security options to be tailored to the distinct needs of each user and organization.
"It's a pleasure to welcome Wave Systems to the FIDO Alliance," said Michael Barrett, President of the FIDO Alliance. "Wave has long been a strong advocate of the use of embedded hardware security built on industry standards as the cornerstone for identity, and is a natural fit for the Alliance."
Publicly launched in February 2013, the FIDO Alliance has grown its membership significantly, reaching over 100 members in its first year, and is continuing to expand its coalition with the most recent addition of Wave Systems.
By helping to develop the technical standard, and planning and executing the alliance's marketing, certification and deployment programs, members advance how authentication is evolving to ensure a robust a secure online future. Members of the FIDO Alliance include Google, BlackBerry and Microsoft, among other technology organizations.
About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.
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 simpler, stronger authentication that define an open, scalable, interoperable set of mechanisms that reduce reliance on passwords. FIDO authentication is stronger, private, and easier to use when authenticating to online services.