Identity verification

Jim DeBello will leave his post as CEO of digital capture and mobile identity company Mitek, one of a handful of high-level personnel moves at the company.

By intelligently applying friction, where the entry of a PIN or a swipe of the screen can be used to correlate against known data, we can better prove that the correct user made the transaction and avoid the costs and disruption associated with fraud and disputed claims, writes Zia Hayat, CEO of Callsign.

"Banks should be investing in innovation in this area or risk getting left behind," a fintech CEO warns.

The move from standard to real-time transactions adds another layer of complexity and creates further opportunities for fraudsters. Quicker transaction times increase the chances of fraudulent transactions going undetected, writes David Worthington, vice president of payments at Rambus.

Businesses are tasked with carrying too much of the burden of protecting customers' personal information, and typically turn to Social Security numbers. The advent of self-sovereign identity may give consumers a chance to reclaim control over their data and how it’s used, Finicity's Nick Thomas writes.

Tencent Holdings Ltd. is working with the Chinese government to create an electronic pass system that smooths travel between Hong Kong, Macau and the southern province of Guangdong.

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Unless near zero-friction identity security is embraced, connected devices cannot be used for payments in a substantial way, according to Xavier Larduinat, manager for innovation at Gemalto.

With the acquisition of Confyrm, the bank is among the few players that are putting themselves in position to sell ID authentication services to other businesses.

The authentication software and hardware provider is shifting its focus to identity verification and account onboarding, another sign that the newest generation of bank customers is not interested in coming into a branch to set up an account.

The recent outcry over government use of Amazon's facial recognition software will force TD Bank, USAA and others to confront flaws in the technology that make it harder for women and minorities than white men to use mobile banking.

The move is part of a larger trend to provide enterprise customers with tech capabilities available to retail customers.

How a measure to make opening online accounts easier was crafted — and why it needs to pass Congress.

How a measure to make opening online accounts easier was crafted — and why it needs to pass Congress.

In the ongoing quest to replace PINs and passwords, Mastercard has introduced a kit enabling consumers to register their own fingerprint on a biometric card at home, bypassing the need to visit a bank.

Gemalto is working with Lebanon-based areeba to test a biometric contactless Visa EMV card in the Middle East that uses a fingerprint to authorize transactions.

Voice authentication software has improved call center service at Virginia Credit Union and shortened call times by nearly 25 percent.

A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity.

There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.

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