As banks struggle to move past passwords, a Silicon Valley startup is taking a stab at a fingerprint and facial recognition standard built with the support of some heavy hitters — PayPal and Lenovo among them.

Nok Nok Labs, which was created a year ago by the founder of the data security vendor PGP, says it will eventually sell server software that will make the process of verifying the identity of online and mobile bank customers easier and more effective. The company plans to release its developer tool kit in March.

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