Authentication

The tougher authentication standards will take time and effort, but will strike a blow against fraud, writes Andrew Mortland, vice president of product at Accertify.

Developers have expanded availability of digital identity and biometrics, but traditional methods are holding strong as most companies still rely on usernames and passwords.

To address users’ privacy concerns, secure data and avoid litigation or fines while delivering a competitive customer experience, financial institutions must adopt a customer digital identity and access management (CIAM) strategy, says ForgeRock's Ben Goodman.

The time is ripe to move decision-making up the ladder and for organizations to bite the bullet by creating a more inclusive comprehensive strategy for the overall business that considers all the disparate security needs, writes Madeline Aufseeser, an analyst and fintech executive.

A traditional rules-based fraud system will not be capable of detecting synthetic identity fraud. A combination of supervised and unsupervised machine learning algorithms must be implemented to process the data necessary to effectively segment good and bad identities, says Steven D'Alfonso, research director at IDC Financial Insights.

New payment modes are expanding quickly, giving momentum to facial recognition and other advanced forms of authentication, according to James Daniels, vice president and head of Asia Pacific at FIME.

The pressure on banks, financial institutions and payment service providers to act as effective gatekeepers in the fight against financial crime is intense. Real-time payments considerably complicates that challenge, writes Sophie Lagouanelle, head of solutions at Accuity.

Amazon’s move pressures other merchants to add speed to e-commerce delivery while adding a few more steps to vet payments, writes Monica Eaton-Cardone, COO of Chargebacks911 and CIO of its parent company Global Risk Technologies

By making sure their payment processing solution is compliant, they can save themselves the hassle of declined payments and make sure they’re capitalizing on the expansive European e-commerce market, writes Ralph Dangelmaier, CEO and board member at BlueSnap.

Vetting transactions has become complicated as merchants try to juggle user experience and risk. Tokenization can remove some of that complexity, argues Andre Stoorvogel, a director at Rambus.

After criticizing the prevalence of social sign-in buttons on the internet, Craig Federighi, Apple's senior vice president of software engineering, unveiled one of his company's own. It's essentially Apple Pay without the payments.

Police and city agencies can no longer use facial-recognition technology, which civil liberties groups say infringes on human rights. The measure may be an ominous sign for biometric login authentication.

Police and city agencies can no longer use facial-recognition technology, which civil liberties groups say infringes on human rights. The measure may be an ominous sign for biometric login authentication.

Uber will use Adyen's technology to incorporate the latest version of EMVCo’s 3-D Secure authentication, which has been updated to comply with PSD2 mandates for stronger identity vetting.

Traditional authentication practices are incapable of meeting the real-time demands, writes Frank Teruel, senior vice president and general manager of ThreatMetrix.

Consumers expect financial institutions to provide mobile applications that combine ease of use with top-class security features. Biometrics could help credit unions keep up with these high-stakes technology demands.

It is human nature to do as little as possible when it comes to secure passwords. The new NIST standard helps solve that problem.

The growing sophistication of artificial intelligence is making fraud detection faster and more accurate, which opens up new possibilities for new products and services because of consumer confidence in secure payments, writes Margaret Reid, senior vice president of North America Risk for Visa.

Web-based key users can have secure access to an online management application from anywhere in the world and can change key access permissions, profiles, schedules and validity, even revoking their use virtually at the click of a button, writes Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

PSD2 and other moves push a higher level of authentication, and are a welcome development for biometrics, according to Lina Andolf-Orup, a senior director at Fingerprints.