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.
Foreign operatives' alleged use of fraudulent financial accounts to try to influence the U.S. political system shows again how difficult it is for banks to truly know their customers.
The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.
The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.
TransUnion Chief Financial Officer Todd Cello said Tuesday the firm kept call centers open through the weekend to deal with the flood of calls from anxious consumers.
Researchers continue to prove that they can beat biometrics. However, the authentication method is still far superior to knowledge-based questions so long as banks also deploy other standard security practices.
Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
