When discussing modern authentication systems, the keyword "FIDO2" appears in discussions more and more frequently. It results from progressing technology adoption and growing support by prominent technology vendors. We can mention Apple's recent announcement of Passkeys as one of many examples. FIDO2 is the easiest way for most financial organizations to fulfill regulatory requirements and secure their digital channels.

1. FIDO2: The Easiest Path
To Strong Authentication
CONTACT
Petr Dvořák
email: petr@wultra.com
phone: +420 728 727 714

3. "
Authentication in
Finance Constantly
Evolves

4. SMS OTP

5. The Best Ever!
➡ User friendly, fast, beautiful…
➡ Secure, PSD2 compliant
➡ Excellent for large retail audience
Mobile Key App?

6. The Best Ever!*
➡ User friendly, fast, beautiful…
➡ Secure, PSD2 compliant
➡ Excellent for large retail audience
➡ App publishing and distribution
➡ Prone to phishing (users' error)
Mobile Key App?
* … with some limitations

7. 2022: Scary Statistics of Vishing Attacks
50%
of fraudulent calls
are successful
10 000 EUR
avg. vishing damage
Data of the Czech Banking Association (CBA).
NUMBER OF ATTACKS
0
10000
20000
30000
40000
2020 2021 2022
35 000
12 000
5 000

9. Solving the World's Password Problem

10. Private Key Public Key
Challenge
Response:
Signed Challenge
Public Key Infrastructure
Sign the
Challenge
with
Private Key
User Service Provider
Stored in
authenticator
~ password manager

11. FIDO2 Authenticator Attachments
PLATFORM
Built-in directly into the laptop or smartphone
CROSS-PLATFORM
Connected via Client-to-Authenticator Protocol (CTAP)
USB, NFC
Bluetooth
Apple Passkeys
(Hybrid: Bluetooth + QR Code)

12. WebAuthn:
FIDO2 for Web
Browser
Straight-forward JavaScript APIs

13. Passkeys:
Apple's Brand
for FIDO2
Supports web and apps
iCloud backup
Supported on Android

14. No App Needed!
➡ Even no mobile device needed!
➡ Built into OS and web browsers
➡ User-friendly, resistant to phishing
➡ Secure, PSD2 compliant
FIDO2

15. No App Needed!*
➡ Even no mobile device needed!
➡ Built into OS and web browsers
➡ User-friendly, resistant to phishing
➡ Secure, PSD2 compliant?
FIDO2
* … with some limitations

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17. PowerAuth® HW Authenticator
➡ Challenge visualization on display
➡ Authentication via PIN pad
➡ Connected via USB cable
➡ PSD2 compatibility extensions

18. No App Needed!*
➡ Even no mobile device needed!
➡ Built into OS and web browsers
➡ User-friendly, resistant to phishing
➡ Secure, PSD2 compliant?
➡ Non-branded "system GUI"
➡ Weak recovery options
FIDO2
* … with some limitations

19. FIDO2 Is The Most
Secure
Authentication
Option Today

20. FIDO2
Excellent Choice for
Fixed Desk Finance
➡ Corporate or SMB banking
➡ Premium or private banking
➡ Specialized fintech solutions

21. FIDO2
Excellent Choice for
Fixed Desk Finance
➡ Corporate or SMB banking
➡ Premium or private banking
➡ Specialized fintech solutions
➡ … or whenever an app is too much hassle
➡ … or as option to security cautious clients

22. And How About
the Back-End?
?

23. PasskeysDB
The infrastructure
backbone for Passkeys.
https://www.passkeysdb.com/
➡ Free forever!*
➡ Zero setup costs
➡ Low code
* … with some limitations

24. Thank You!
CONTACT
Petr Dvořák
email: petr@wultra.com
phone: +420 728 727 714