Authentication

Combining biometrics with device ID, social data, behavior patterns and other factors builds a strong foundation for artificial intelligence to conduct identity proofing and transaction authorization.

Biometric security company Hypr Corp. has closed a $3 million funding round to accelerate the development and adoption of its encryption product.

WASHINGTON — A bipartisan group of House lawmakers on the financial services panel introduced legislation Wednesday that would help banks remotely open accounts.

Our FinTech Forward Companies to Watch are helping banks step up their game by offering virtual assistance, better money management tools and other solutions.

It's hard to sell a big bank something regardless of the tech company's size. But for early-stage startups with only a handful of employees and a product still under development, the challenge is far greater than for seasoned tech vendors.

Banks continue to gather ID documents manually from would-be customers, even ones who sought to open accounts online. Bringing the manual process into the digital age is the goal of several startups.

The federal government recently began to discourage companies from using SMS-based authentication in their two-factor authentication schemes. So do banks need to completely eliminate authentication via text message? Not entirely.

Banks have gotten better at detecting digital banking fraud, but the process of closing and reopening accounts is still a mess — and that is what could send more customers packing.

In the wake of the Bitfinex heist, protecting consumers must again be at the forefront of the digital currency community.

Most would agree the way digital identity is managed is suboptimal. But how identity should be managed, and who should manage it, are shaping up to be hotly debated questions.