The partnership will see Bnext integrate LoginID’s FIDO2 SDK’s to secure next generation services around banking and remittances
Spanish Fintech Bnext, the leading emerging alternative to banks in the Spanish speaking world, and LoginID, a FIDO-certified biometric authentication provider, announce a partnership which calls for the integration of LoginID’s FIDO2 SDKs into the Bnext mobile application, providing Bnext customers secure, frictionless logins and Transaction Confirmation, a digital signature and receipt for transactions.
Bnext has placed its focus on building banking services for the unbanked, servicing the Latin American (LATAM) market. Spanish residents send over $18B in remittances every year, primarily to families in LATAM countries. This partnership builds on Bnext’s strategy around creating next generation banking services.
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“Working with the LoginID team was a natural fit for Bnext, they understand the compliance and security requirements around securing financial services,” said Guillermo Vicandi, CEO, Bnext. “We are excited about the potential to leverage the LoginID technology to secure Bnext financial services to support our customers.”
“Bnext has focused on emerging, underserved markets with new, exciting financial services for customers,” said Simon Law, CEO, LoginID. “An important part of these new services will be helping provide a frictionless, secure experience that customers will feel confident in. Integration of the LoginID FIDO2 SDKs is easy and will provide the strongest form of authentication for customers.”
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LoginID and Bnext are both partnered with Algorand. Bnext announced a relationship to help support their growth of financial services for the LATAM market and LoginID announced in October initiatives related to building its authentication and identity SDKs for the Algorand community. Algorand has emerged as a significant player in support of financial services globally, and is noted for speed, reliability, security and scale around its network. Algorand and Bnext recently shared their thoughts on the emerging DeFi market with PYMNTS.com in a recent interview.
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