Every day, our employees set out to solve customer problems and deliver seamless experiences, propelled by our AI-driven expert platform strategy and mission to power prosperity around the world. Part of delivering on this means delivering industry-leading customer experiences for more than 100 million consumer and small business customers with Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp.
Today, our commitment to passwordless authentication technology advancements and standards is being recognized by the industry with Intuit’s appointment to the FIDO Alliance Board of Directors, with Intuit Head of Product for Authentication, Rakan Khalid, serving as Board Delegate.
The FIDO Alliance is an open industry association driven by hundreds of global tech companies (enterprise, payments, telecom, government, healthcare, etc.) focused on reducing reliance on passwords by building open authentication standards that are more secure than traditional passwords, simpler for consumers to use, and easier to deploy and manage. FIDO authentication replaces outdated, password-only sign-ins with secure and fast sign-in experiences, allowing users to simply sign in with passkeys across their devices with a biometric or a security key. With over four billion devices now supporting FIDO protocols, demand for the standard is growing across the identity and authentication space.
Intuit began a multi-year FIDO journey in 2018 to reduce customer friction and enhance security, at lower operating costs. By deploying a passwordless solution for customer authentication, Intuit reduced customer friction through authentication success rates of 95% to 97% when compared to a baseline of 80% for legacy multi-factor authentication and 70% faster sign-in speeds over non-FIDO sign-ins.
Looking ahead, Intuit intends to explore multi-device passkey technology as the next frontier on its authentication journey.
“Robust identity capabilities are central to seamlessly connecting customers to our products, unlocking value and experiences, and securing experiences, services and data across our platform,” said Amit Jere, Intuit’s Vice President of Identity. “We’re thrilled to apply this expertise to the FIDO Alliance board and contribute to the broader mission of simplifying and fortifying authentication for consumers.”
“Intuit’s platform serves 100 million customers, and their proven ability to uniquely identify and manage access rights and permissions at this scale will provide the FIDO Alliance with valuable insights and best practices as we work to eliminate the vulnerabilities and friction presented by traditional passwords,” said Andrew Shikiar, Executive Director and CMO of the FIDO Alliance. “We look forward to Rakan’s contributions to the board as part of our industry-leading efforts to provide simpler, stronger authentication.”
For more information on The FIDO Alliance and its mission, please visit https://fidoalliance.org/overview/.