JAKARTA, Indonesia, March 27, 2020 /PRNewswire/ — PrivyID, Indonesia’s leading legally-binding digital signature and trusted digital identity solution provider, has officially become the first Indonesian company to become a member of the FIDO Alliance. Other notable members of the alliance include Google, Apple, Amazon, Paypal, Alibaba Group, and Goldman Sachs.
“By becoming a member of the FIDO Alliance, PrivyID is showing its commitment to a new model in user authentication that prioritizes both simpler and stronger user experiences,” said Andrew Shikiar, executive director and CMO of the FIDO Alliance. “We look forward to PrivyID’s contributions to the Alliance as we work to change the nature of authentication and strengthen identity verification processes.”
Founded in July 2012, The FIDO Alliance is an open industry association with a focused mission to create authentication standards to help reduce the world’s over-reliance on passwords. It aims to provide a safer alternative to passwords that is simpler for consumers to use and at the same time easier for service providers to deploy and manage. The FIDO Alliance currently has fifteen working groups, one of them the Identity Verification and Binding Working Group (IDWG), in which PrivyID plans to contribute.
The IDWG was established to provide authoritative guidance, performance evaluation, and certifications on new techniques for validating a user’s identity that meet the Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. A good example of this procedure would be the process of matching biometric “selfie” with government-issued identity, a solution that PrivyID has already implemented to 4.5 million of their users. Through direct partnerships with over 200 companies in Indonesia, including the nation’s largest banks and IT companies, PrivyID has enabled millions of Indonesians access financial and retail services securely and conveniently.
“We are excited to become part of the FIDO Alliance. We are certain that aligning strategic initiatives and innovations with the alliance would greatly assist us in providing a strong, integrated, and secured digital identity solution to our customers,” said Marshall Pribadi, Founding CEO of PrivyID. “We look forward to participating in a globalized knowledge exchange and engagement program with other members.”
PrivyID is Indonesia’s legally-binding digital signature and trusted digital identity solution provider. Since it was first established in 2016, PrivyID has been trusted by over 4.5 million of users and 200 companies in Indonesia, including the nation’s largest banks (Bank Mandiri, Bank Rakyat Indonesia, Bank Negara Indonesia, and CIMB Niaga) and IT companies (Telkom, Telkomsel, and Lintasarta among others). PrivyID’s regulatory-compliant and ISO27001-certified solutions enable the company to perform undisputed e-KYC process for their customers.
PrivyID is the official partner of the Indonesia’s Ministry of Homeland Affairs’ Directorate General of Population and Civil Registration. Additionally, the use of PrivyID’s technology is officially approved by Indonesia’s Ministry of Communication and Information Technology, the central bank of Indonesia (Bank Indonesia), and Financial Services Authority. PrivyID is founded by Marshall Pribadi, a Forbes Asia’s 30 Under 30 Honoree and Endeavor Entrepreneur who is also the executive chairman of Indonesia Regtech and Legal Tech Association (IRLA).
For further information, visit www.privy.id.