From the outset, the working structure of Natural Security was favourable to create an Alliance. Going beyond pure financial investment, shareholders set up dedicated teams to support the project and created an operational task force to define requirements, review specifications and promote the standard to regulators and the entire payment ecosystem.
The taskforce now welcomes new members with an interest in strong authentication (banks, card schemes, retailers, manufacturers, testing and certification bodies…).
The mission of the Natural Security Alliance is to:
- Drive the development of specifications by ensuring business needs are met ;
- Create an ecosystem to facilitate development and adoption of the standard (testing and certification processes and tools, interoperability strategy…) ;
- Promote relevant use cases and usages of Natural Security technology.
Natural Security ensures the environment is aligned with the Alliance’s objectives by working with regulators and other standardization bodies. Educating the market and promoting the technology will also be key parts of our approach to shaping the environment.
Among the benefits for retailers, the Natural Security Alliance provides an opportunity to implement business models and use cases for fast, convenient strong authentication methods that do not compromise security or privacy and that can be used for face-to-face and online payments.
By joining the Natural Security Alliance, banks and issuers will be among the first to develop services based on the authentication method of the future, replacing PINs, passwords and OTPs while exploring new business models and opportunities, such as Identity as a Service.
Manufacturers and solutions providers benefit from the $25M in funding (180 man-years) invested in the project, and profit from marketing actions organized by the Natural Security Alliance for sharing, collaborating and networking. Being a member of the Natural Security Alliance highlights and reinforces members’ positions as a major players in the sector, and members benefit from the growing awareness of Natural Security.