HiTRUST Returns to FIDO APAC Summit Along VinCSS

The wait is over, and we are thrilled to share the highlights of our fruitful participation at the FIDO APAC Summit 2024. In this event, we were featured by our strategic partner, VinCSS, to showcase our solutions and foster meaningful connections with over 400 industry professionals.

Hosted by the FIDO Alliance, this premier regional event has become an insightful gathering for the cybersecurity and banking industry in the APAC region. The event brought together technology providers, cybersecurity experts, financial institutions, government representatives, and other stakeholders to discuss the future of digital security and advance secure authentication standards beyond traditional passwords.

Event Summary

The FIDO APAC Summit 2024 was a dynamic, content-oriented summit filled with workshops, keynotes, and panel discussions. Industry leaders shared the latest insights and innovations shaping the future of passwordless authentication and digital security.

Some of the most engaging topics included

• Passkeys 101 Workshop: Led by David Turner, Senior Director of FIDO Alliance, and Christiaan Brand, Product Manager at Google, this workshop offered an in-depth exploration of passkeys, emphasizing their role in enabling seamless cross-device authentication without requiring new registrations.
• Modernizing Payment Authentication with Visa Payment Passkey: Samuel James, Senior Product Manager at Visa, revealed how Visa's Passkeys reduce fraud by 50% compared to SMS OTP, offering a seamless digital payment experience. Visa is now finalizing Passkey authentication for EMV 3DS.
• From Passwords to Passkeys - The TikTok Journey: Yan Cao and XK (Sean) Liu from TikTok shared their experiences of adopting passkeys to enhance user security and experience. Moreover, users can log in with either Touch ID or Face ID to avoid the hassle of remembering passwords.
• Workshop Highlight: FDO 101 and VinCSS Breakthrough: VinCSS, a Vietnamese cybersecurity startup backed by Vingroup, became the world's first to earn three FDO(FIDO Device Onboard) certifications for IoT security, including CPM IoT Sensor, IoT Platform, and RV Server.

These sessions, among many others, provided invaluable insights into the evolving landscape of digital authentication, focusing on cross-industry innovation, alliance-first collaboration, and implementing FIDO standards to improve security globally.

Participation Highlights

As an active member of the FIDO Alliance, HiTRUST is proud to showcase our innovative products and solutions.

• Veri-id AI Fraud Detection System blocks frauds like account takeovers, credential stuffing, and phishing attacks by analyzing up to 100 device data points—such as OS, hardware, location, and browser—without requiring user input. With transparent, explainable AI scoring, it identifies risks quickly and accurately.

  Businesses can easily set rules to categorize users: frictionless access for low-risk, step-up authentication for medium-risk, and automatic rejection for high-risk users. This approach minimizes fraud and enhances user experience with precise, real-time decision-making.

• Passwordless Authentication aims for secure, seamless login and online payment authentication based on the global FIDO Alliance standard. It supports secure online credit card transactions, banking transfers, and login authentications.

  To mitigate phishing attacks on the registration, we use Veri-id's DiiA technology to detect up to 100 device data points on the user's device, ensuring reliable security. This effectively lowers the fraud rate by 50%, a 40% reduction in authentication time, and strong resistance to phishing attacks compared to SMS OTP.

Moreover, we featured live demonstrations of these solutions, allowing visitors to experience firsthand how HiTRUST's products enhance security with ease. Our team demonstrates login and transaction scenarios to the visitors, showcasing a seamless user experience, straightforward access, and a no-code management system.

Valuable Networking and Insights

On the last day, the FIDO Alliance hosted a warm and welcoming gala dinner, where attendees dressed in traditional Batik, Malaysia's national attire, adding a local cultural touch to the event. The evening featured engaging activities and meaningful conversations, highlighting that the summit was about authentication technologies, building connections, and fostering collaboration.

We sincerely thank VinCSS for our strong partnership and support throughout the many events we attended together. We are proud to have been featured as a partner and look forward to expanding our collaboration, driving growth, and achieving new successes together.