A seismic shift is transforming the digital security landscape, as the adoption of Fast Identity Online (FIDO) standards by leading tech giants like Apple, Google, and Microsoft marks a significant step forward in the fight against cyber threats. FIDO aims to enhance online security by reducing reliance on vulnerable passwords through stronger, simpler authentication methods. Unfortunately, however, the journey toward widespread adoption of FIDO-compliant solutions has encountered its share of challenges.

Many FIDO-certified security solutions, while secure, have proven to be clunky and user-unfriendly. Banks and financial institutions, in particular, face difficulties integrating these systems into their existing frameworks and persuading customers to adopt new authentication methods. The complexity of implementation and the steep learning curve for users have been significant barriers, underscoring the need for a solution that balances strong security with ease of use– essentially, a strong user-experience.

A recent study by Forbes in collaboration with Arculus shows that companies want to prioritize customers: 80% agreed that creating a better experience for customer transactions is a key competitive advantage in the industry, and 79% agreed that customer experience is top of mind as they design new security protocols. “It’s not a dichotomy of either being more secure or having a better customer experience,” says Adam Lowe, PhD, of Arculus by CompoSecure. “You can accomplish the goal of more revenue per hour by increasing the quality of your security.”

Enter Arculus®, emerging as the leader in this new era of digital security. Unlike other FIDO-compliant options, Arculus Authenticate™ is designed for seamless integration into banks' and financial institutions’ existing systems and for effortless adoption by users. Leveraging the familiar "tap to pay" consumer behavior, it introduces a user-friendly path to secure authentication without the hassle of passwords or having to call into a call center.

Arculus Authenticate's innovation lies within its premium branded metal card, which also serves as the physical authentication token or hardware key. This not only enhances security but also elevates the user experience, generating a frictionless customer experience while reinforcing brand recognition and loyalty. The metal card differentiates the solution in the market, making security feel premium and natural as you tap to authenticate, just as you would tap to pay.

The statistics underscore the urgent need for such innovative solutions:

  • 80% of data breaches are due to compromised login information, highlighting the vulnerability of traditional passwords.
  • An alarming 83% of organizations reported experiencing at least one data breach in 2022, with the average cost of these breaches reaching $4.35 million.
  • Despite the risks, only 21% of organizations to be extremely secure, and a mere 8% have adopted hardware passkeys, which are often seen as inconvenient and provide an unbranded experience.

Arculus Authenticate directly addresses these challenges by offering a secure, smooth login experience that requires just a simple tap of the metal payment card you already carry with you. This process leverages sophisticated cryptographic procedures for each authentication, ensuring unparalleled security. Furthermore, the “tap” method aligns with the daily behaviors of users, making it an intuitive, frictionless - some may say welcomed change.

As we navigate the complexities of digital security, the integration of FIDO standards with user-friendly solutions like Arculus Authenticate signifies a pivotal moment. It's not just about responding to the current landscape of data breaches and security challenges; it's about actively shaping the future of secure, user-friendly authentication.

By choosing Arculus Authenticate, banks and financial institutions can offer their customers a premium, secure, and effortless authentication experience. This approach not only mitigates the risk of data breaches but also enhances customer engagement and loyalty, setting a new standard in digital security. Join the ranks of tech leaders like Apple, Google, and Microsoft in adopting FIDO standards, and elevate your security and customer experience with Arculus Authenticate.