Because consumers struggle to remember passwords for their numerous accounts, they resort to using the same one.
Password management provider Dashlane has been addressing that problem and is bringing its expertise into the Fast IDentity Online Alliance as it seeks open standards to reduce reliance on passwords.
Dashlane was the first company to support FIDO standards, particularly the use of YubiKeys as a password management tool, one of more than 100 that the alliance says is available as an alternative to passwords.
The use of FIDO-certified security keys has been gaining momentum, particularly with Google and Facebook recently deploying the measure for its users.
"FIDO Alliance is changing the nature of password authentication with new industry protocols for strong authentication that Dashlane supports in both theory and practice," Emmanuel Schalit, CEO of Dashlane, said in a Feb. 10 press release. "Our users depend on us to keep them safe online, and joining FIDO Alliance reinforces our commitment to protecting them from modern hacking techniques and other evolving threats with industry-leading innovation and security technology."
Dashlane, with offices in New York City and Paris, simplifies identity and checkouts online through its password manager and secure digital wallet app. Dashlane users can manage passwords, credit cards, identification cards, and other important information through an advanced encryption method and secure storage.
The company says it has helped more than six million users in 150 countries manage and secure digital identity.
"When a leading mass market credential management company like Dashlane joins the alliance it sends a message to the rest of the market that FIDO is emerging as the consensus strong authentication standard for consumers as well as corporations, and desktops as well as mobile," Brett McDowell, executive director of the FIDO Alliance, stated in the release.
Dashlane has received $52.5 million in funding from Rho Ventures, FirstMark Capital and Bessemer Venture Partners.