Bnext becomes the first fintech to use LoginID's FIDO-certified Biometric Authentication to secure remittances on Algorand, between Spain and Latin America

Bnext becomes the first fintech to use LoginID's FIDO-certified Biometric Authentication to secure remittances on Algorand, between Spain and Latin America

PR Newswire

MADRID and SAN MATEO, Calif., Dec. 16, 2021

The partnership will see Bnext integrate LoginID's FIDO2 SDK's to secure next generation services around banking and remittances

MADRID and SAN MATEO, Calif., Dec. 16, 2021 /PRNewswire/ -- Spanish Fintech Bnext, the leading emerging alternative to banks in the Spanish speaking world, and LoginID, a FIDO-certified biometric authentication provider, today 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. 

"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."

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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About Bnext

Bnext is one of the first Spanish fintech companies, with presence in Latam and a pioneer as an alternative to traditional banking, which makes it easier for people to control their money in order to live it more freely, simply and intelligently. For more information, visit https://bnext.es.

About LoginID

LoginID is a San Mateo/Toronto based company focused on bridging the gap around authenticating users and securing their information. This is facilitated through its FIDO2 and UAF certified strong customer authentication, privacy and tokenization platform. LoginID has been a pioneer in defining the 'authenticated payments' category, the next evolution in commerce which combines payments and authentication.  The team is funded by strategic investors such as Visa, and is composed of seasoned executives with decades of experience, across global brands, helping commercialize products around security, cryptography, payments and mobile. For further information contact: sales@loginid.io.

Contact: Jim Brown, press@loginid.io

 

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