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Insights from Money2020 2017

Last week, I joined Money 20/20 event that is worldwide FinTech show in Las Vegas. It was really great to meet and share mutual insights with influential people there especially for crossed industry sectors among Banking & payment, AI & Big data, Digital health, Security, and Mobile solution with IoT.

During that event, I could get some insights from security perspective given that chats with various experts from attendees.

Firstly, Simpler & Stronger authentication surely will be 'nexus' for multiple industries businesses above mentioned. Simply to say, machine-to-machine and machine-to-man connection among networked devices will severely require simpler & stronger authenticating system. Because that security level is significant and 'must' factor for IoT devices to be successful. As you know, of course, simpler & stronger is sort of trade-off relation in terms of security side. I strongly believe biometrics could be great candidate solution to kill two birds with one stone for replacing existing password issues and bringing simpler & stronger user experiences.

Secondly, biometrics has been being diversified and upgraded along with behavioral biometrics which is supported by AI, Big data, and amazing CPU. Which will enable people to enjoy AI supported authentication with more easy-to-use and stronger security experience. Fortunately, I could meet some ventures who has been developing similar solution with their behavioral biometrics concepts.

Lastly, FIDO (Fast ID Online) solution will be playing key role in blue ocean not only for simple & stronger authentication but value added security management solution by maximizing benefits of biometrics. They have already finished to set up worldwide ecosystem for this and co-worked with related global ecosystems such as W3C, EMVCo, GSMA, CCC, and several governments as well. One of my understanding of FIDO Alliance's philosophy is "making a bigger pie (blue ocean) and sharing big one together".

It would be really great watching point to come how several industries synergize to get secure & convenient 'nexus' for their strategic business solutions and products!

  • Dongpyo Hong / Global Consulting for Biometrics, IoT, Security

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