Authentication

As long as we can create enough trust between the parties involved in a payment transaction, the system works, writes Francis Limousy, principal adviser for UL Transaction Security Advisory Services.

London-based Jumio has partnered with Plynk, a consumer messaging app available to consumers in Europe, for verifying new customers’ identities during the onboarding process.

Consumers who either are tiring of the password overload, or those who understand that passwords are antiquated security, are driving the fair amount of biometric adoption, writes Michael Lynch, chief strategy officer at InAuth.

Passwords are widely distrusted for verifying identity and have been blamed for more than 80% of data breaches, but with biometrics and other approaches not yet ready for broad adoption, many innovators are rushing in to fill the gap.

OnlyID, a joint offering from FIS and Equifax, is meant to become consumers’ single sign-on for bank and retail websites and apps. Longstanding relationships may give it a better shot at achieving network effect than previous attempts.

OnlyID, a joint offering from FIS and Equifax, is meant to become consumers’ single sign-on for bank and retail websites and apps. Longstanding relationships may give it a better shot at achieving network effect than previous attempts.

Like many financial companies, the brokerage wants to go where customers are. Since that means communicating with them via a third-party platform, it is working through privacy and security issues.

JPMorgan CEO Dimon says banks are putting Silicon Valley to shame … in terms of diversity; Uber’s plan to replace its CEO with a woman seems to be sputtering; and Yellen’s potential successors also are all men.

Do customers want to log in to mobile banking by snapping a picture of their eye? Bank of America will spend the next six weeks finding out.

If everyone has a universal digital identity, the documents that identify us in the physical world will no longer be necessary, writes Michael Gorriz, group chief information officer for Standard Chartered Bank.

Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.

EMV chips can take a company only so far, leading Oberthur to consider Morpho's expertise in biometrics and embedded security methods.

Enabling peers to compare notes will help ID management specialists at regional, midtier banks who face the same requirements as large banks but command smaller operating budgets, IDPro’s founder says.

The most innovative projects shared at Digital Banking 2017 involve embedding banking in popular devices and apps like Facebook Messenger and Amazon Echo.

With such massive amounts of data bolstered by ubiquitous modes of distribution, the most meaningful fintech investment opportunities center around enabling a new truth equilibrium.

3DS 2.0 is designed to vastly improve cardholder authentication, and in so doing, improve the digital checkout and payment process.

One-time passcodes or more complex passwords are not enough, and add friction and potential frustration for the user. The solution is mobile identity authentication, writes Randy Vanderhoof, executive director of the Secure Technology Alliance.

Some banks seek to dominate the digital-identity business, but they stand to benefit even if their efforts fall short.

False IDs are complex and difficult to spot. A combination of biometrics and other advanced security tecnology is needed.

In the near future, branch authentication will likely rely more on things like iris scans and palm readers than physical ID cards.