PYMNTS

JUNE 29, 2020

Open banking is one of the most significant emerging trends in the financial industry, allowing banks and FinTechs to share financial data in a quick, easy and secure manner across a network of platforms. Security Risks Facing Open Banking. Securing Open Banking Systems. percent of fraud attempts, according to one study.

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Bank Automation

NOVEMBER 21, 2024

Financial institutions concerned about cybercrime will be investing in next-generation multifactor authentication solutions in the next year to combat cybercrime. Deploying these solutions in 2025 is a top priority for FIs as AI-related fraud becomes increasingly sophisticated, according to a Nov.

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VISTA InfoSec

OCTOBER 21, 2024

Because there is such a clear need for the security they offer, it’s unsurprising that there is a dizzying number of crypto wallet options out in the market, ranging from popular software solutions to more exotic custom hardware storage. In particular, look for wallets that let you customize transaction confirmation settings.

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Cryptocurrency Multifactor Authentication MFA Compromise 141

VISTA InfoSec

JULY 31, 2023

The PCI DSS Checklist is a crucial first step in securing your business. It’s a tool that helps businesses ensure they’re meeting all the requirements of the Payment Card Industry Data Security Standard (PCI DSS). The QSA will review the business’s security measures and access controls, and provide a report on their findings.

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PYMNTS

SEPTEMBER 4, 2019

That can make the authentication process tricky when it comes to satisfying consumers who want things done quickly. In the latest Call Center Commerce Tracker , PYMNTS examines how contact centers are using technologies like AI, biometrics and multifactor authentication (MFA) to keep customers satisfied and, most importantly, safe.

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VISTA InfoSec

FEBRUARY 28, 2024

In our ongoing series of articles on the Payment Card Industry Data Security Standard (PCI DSS), we’ve been examining each requirement in detail. Today, we turn our attention to Requirement 8: Identify Users and Authenticate Access to System Components. Increased minimum lengths for greater security. a (v3.2.1) -> 8.2.2.a

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PYMNTS

NOVEMBER 13, 2020

Digital identity solutions have become increasingly widespread in recent years as alternatives or supplements to old-fashioned authentication methods like passwords. Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses.

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PYMNTS

JUNE 8, 2020

Open banking may soon become table stakes for financial institutions (FIs) — they need to act now and be able to offer it securely or risk getting left behind. FIs therefore cannot afford to drag their feet on implementing open banking, but many may be concerned that third-party access to customer data will exacerbate security challenges.

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PYMNTS

SEPTEMBER 6, 2019

The number of facilities looking for alternatives has doubled since 2018, with 17 percent utilizing MFA to better protect against fraud. The need for newer, stringent authentication comes as call centers — especially those for banks and other financial services — are getting hit with increasingly sophisticated fraud.

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PYMNTS

JUNE 25, 2020

This fear of cybercrime comes at a time when banks are exploring open banking systems en masse, which is only exacerbating security concerns. Banks are leveraging multi-factor authentication (MFA) and machine learning (ML) to protect these systems, but customers fear this may not be enough. About the Tracker.

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VISTA InfoSec

JUNE 27, 2024

A joint investigation by Mandiant, Snowflake, and CrowdStrike revealed that Sp1d3r tracked as UNC5537, used stolen customer credentials to target at least 165 organizations that had not enabled multi-factor authentication (MFA) on their accounts. Conclusion The ramifications of this breach extend beyond immediate security concerns.

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PYMNTS

SEPTEMBER 5, 2019

Fraud protection has never been taken lightly by call centers, but the need for stricter authentication is reaching new levels in the face of automated bot attacks and near-daily account takeover (ATO) attempts. Fraud is an ever-evolving space, [so] it’s important, with multifactor authentication, to look at it holistically,” she said.

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The Fintech Times

MAY 24, 2024

Looking to uncover how different regions of the world are responding to the threat of misused AI, Ping Identity , a provider of seamless and secure digital experiences, conducted a survey of 700 IT decision-makers across the UK, US, France, Germany, Australia and Singapore. childhood pets, mother’s maiden name.

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VISTA InfoSec

APRIL 3, 2024

This article delves into common pitfalls that can undermine the security efforts of commercial enterprises. Out-of-Date Security Systems The rapid pace at which digital threats evolve demands an equally dynamic approach to cybersecurity. Let’s get started. Encrypted data remains safe from prying eyes both in transit and at rest.

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CB Insights

FEBRUARY 20, 2017

This year, multi-factor authentication is one increasingly hot area within the cybersecurity industry. Multi-factor authentication (MFA) is a security protocol that requires more than one unique credential to verify a user’s … Continued. Cybersecurity companies saw a record number of deals last year.

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VISTA InfoSec

OCTOBER 21, 2024

Some best practices to ensure robust cybersecurity include: Data Encryption: All sensitive data should be encrypted both in transit and at rest to prevent unauthorized access and ensure efficient data security measures. Authentication: Implement multi-factor authentication (MFA) to add an extra layer of security to your system.

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PYMNTS

JUNE 8, 2020

This also allows hackers to bypass in-app authentication procedures because it can be easier to steal API keys — the credentials developers use to build apps that harness APIs — than contend with apps’ biometric or two-factor authentication (2FA) processes.”. MFA and APIs Make A Good Pair. That’s changing now.

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Fi911

JANUARY 31, 2024

From customer authentication to funds transfer, this technology is poised to become a central element in various banking processes. Prioritizing Security to Shape the Future of Gen AI As we embrace Gen AI, access to sensitive customer data increases significantly.

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Fi911

JANUARY 18, 2024

Financial institutions employ various security measures to combat them. Meanwhile, the debt it forced onto the person whose Social Security information was used to secure the loan. Multi-Factor Authentication (MFA) Implementing MFA for customer authentication can significantly enhance security.

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The Paypers

OCTOBER 25, 2016

(The Paypers) Authlogics has announced the launch of its multi-factor authentication (MFA) platform to enable retail banks` customers to securely access online, mobile and telephone banking services.

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The Paypers

JUNE 11, 2024

Authsignal , providing an MFA and passwordless platform designed for secure authentication, has announced its partnership with AWS Marketplace.

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Segpay

DECEMBER 13, 2024

The Intersection of Data Privacy and Identity Management Source: ID Management Institute Identity management helps authenticate users and makes sure that only authorized individuals can access certain information. In identity management, this means gathering only what is strictly needed for authentication.

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Fintech News

MARCH 19, 2024

Okta , a publicly traded identity and access management firm, through its investment branch Okta Ventures, supports companies innovating within digital identity, privacy, and security. said Quah Zheng Wei, CEO and Co-founder of Accredify.

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PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Banks that earn consumers’ trust by securing their mobile data and transactions will likely see plenty of growth, as 40 percent of U.S. Omnichannel Fraud Protection.

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PYMNTS

OCTOBER 21, 2020

Securing P2P apps as well as other financial accounts will require banks to upgrade their security protocols and customers to take their security more seriously,” per the Playbook. The ubiquity of these apps belies serious security concerns,” the Playbook states. Studies have found that using MFA can prevent more than 99.9

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Fintech News

MAY 20, 2024

The panel discussion will feature experts in IT security, accounting, finance, and cybersecurity, who will delve into real-life scenarios, cybersecurity trends, and offer career guidance for individuals interested in this burgeoning field.

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The Paypers

MAY 26, 2017

(The Paypers) Vera has announced the support for multi-factor authentication (MFA) solutions by Duo Security , RSA SecureID and Twilio.

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PYMNTS

NOVEMBER 16, 2020

Digital identity has become a crucial part of the telecommunications industry as the proliferation of smartphones and the personal data they hold makes security paramount. Multifactor authentication (MFA) has become commonplace for online accounts, with users confirming their identities via text messages sent to their phones.

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PYMNTS

JUNE 3, 2020

Bad actors often find them a more appealing target than the apps to which they are connected, as they can bypass in-app authentication procedures and seize control of all connected apps at the same time by infiltrating the API’s code. Nordea Bank On Providing Security For B2B Payments APIs. About The Tracker.

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PYMNTS

SEPTEMBER 5, 2019

One of the biggest changes is that call centers are moving away from knowledge-based authentication (KBA) methods like passwords and PINs and employing methods with multi-factor authentication (MFA). Voice Authentication. Call centers are especially vulnerable. Lindsay Sacknoff, head of U.S. Lindsay Sacknoff, head of U.S.

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PYMNTS

NOVEMBER 17, 2020

This negative experience is due to a number of factors, including ineffective communication, unclear directions on how to access their devices, and tedious processes when setting up their accounts that often require multiple password entries and multifactor authentication (MFA) setup.

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Fi911

SEPTEMBER 27, 2023

In an age of rapid tech advancements, the banking industry faces fresh security risks. Understanding Liveness Detection Liveness detection is pivotal in biometric authentication systems. This adds a crucial security layer, ensuring the authentication process interacts with a genuine source.

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PYMNTS

FEBRUARY 8, 2019

OneLogin Chief Technology Officer and Founder Thomas Pedersen recently told PYMNTS why overcoming corporate security’s password hurdles doesn’t come without its own headaches. ” The security challenges don’t stop there. .” ” The security challenges don’t stop there.

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PYMNTS

OCTOBER 16, 2020

The October Preventing Financial Crimes Playbook explores the latest financial crime developments, including the growing threat of P2P payment app fraud, evolving customer attitudes surrounding multifactor authentication and biometrics, and recent successes in fraud prevention in the United Kingdom. About The Playbook.

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PYMNTS

JUNE 9, 2020

The surge in interest has challengers and other financial institutions (FIs) moving quickly to secure positions. SCA, MFA, All the Way. Meanwhile, the open banking ecosystem is healthy and growing – but security is a paramount concern during this time of massive transitions. ” Securing That Which Is ‘Open’. .”

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The Payments Association

OCTOBER 24, 2024

Chargeback abuse costs billions, but merchants can reduce fraud with proactive strategies like customer engagement and better security Imagine you’re an ecommerce merchant accepting credit and debit cards, diligently following legal and network guidelines. Yet, despite your efforts, you’re suddenly hit with an expensive chargeback.

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The Payments Association

DECEMBER 10, 2024

It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations. Fraudsters are leveraging these advanced tools to enhance the sophistication and scale of their attacks, making it harder for traditional security measures to keep pace.

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