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Authentication Multifactor Authentication Security 
PYMNTS
NOVEMBER 27, 2020
Overtaxing the royal attention span — that of the consumer — is a mistake, so multifactor authentication (MFA) processes are morphing in various ways to reduce onboarding frictions while maintaining rigorous multifactor authentication (MFA) and other fraud-fighting tools. Taking Authentication To The Streets.
VISTA InfoSec
FEBRUARY 25, 2024
This guide makes sensitive cybersecurity concepts approachable to enable smarter decisions in securing your systems against catastrophe. Most data breaches boil down to security failures and human error. Best Practices For Prevention Ultimately, consistent vigilance and proactive security safeguards offer the best breach protections.
266 
Bank Automation
MARCH 21, 2024
Financial institutions must prioritize multifactor authentication as hackers take advantage of a lack of identity protection. In 2023, cyberattacks using valid credentials to gain access to user accounts increased 71% from 2022, according to IBM’s 2024 X-Force Threat Intelligence Index.
Payments Source
JULY 23, 2018
Multifactor authentication is table stakes in today's breach-heavy environment. Falling short of that standard creates a dangerously high threat, according to David Vergara, head of security product marketing for OneSpan.
Payments Source
FEBRUARY 21, 2021
Without additional security measures, hackers can compromise multifactor authentication and wreak havoc on financial institutions and their customers.
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.
141 
Payments Source
MAY 5, 2016
Multifactor authentication is high on the list of payment security requirements, including new standards from PCI. For any company on the fence on adding stronger authentication, there's plenty of examples of what can go wrong with basic identity management.
Payments Source
AUGUST 14, 2017
An encrypted website and secure network aren’t very helpful when customers have been unknowingly routed to a criminal’s lookalike site, writes Simon Thorpe, director of product for Authy at Twilio.
PYMNTS
JULY 10, 2020
Creating secure banking environments without generating undue customer frictions relies on strong front- and back-end approaches to help FIs spot red flags, create login experiences that are harder for bad actors to crack and guide customers on how they can avoid falling victim to ATOs. “We Customer-Centric Authentication.
PYMNTS
OCTOBER 15, 2020
Secret Double Octopus , which works in passwordless authentication for security online, has secured a strategic investment from SC Ventures, the FinTech and investment arm of international banking group Standard Chartered , a press release says.
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.
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.
59 
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.
89 
PYMNTS
OCTOBER 8, 2020
Offering seamless sign-up experiences is becoming more difficult, with the health crisis boosting the need for greater security, however, especially as fraudsters attack digital platforms in droves. . Consumers do not expect to have to choose between speed and security, however. Balancing Seamlessness And Security.
83 
PYMNTS
AUGUST 16, 2019
The airline claims that 24[7] fell short of implementing basic security controls like forbidding workers from using the same login credentials or requiring multifactor authentication for employees accessing source code. According to the news outlet, hackers changed the source code of the chatbot via compromised credentials.
84 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.
61 
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.
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.
PYMNTS
DECEMBER 5, 2016
More security. But Choudhury noted another equally important step is improving security for digital transactions. Consumers think because something has a fingerprint scanner on it or a fingerprint sensor and an associated chip device that it’s secure,” said Choudhury. Future developments.
PYMNTS
APRIL 16, 2020
Businesses are doing their part by having employees work from home, but some companies are struggling to keep operations secure as opportunistic fraudsters aim to take advantage of the pandemic’s disruption. The Spice House Secures Supplier Payments With Cloud-Based Payment Portals. To read the Deep Dive, download the Tracker.
52 
PYMNTS
OCTOBER 6, 2020
The IBAN accounts at Monneo, she added, are issued by actual banks linked to Monneo's segregated bank account in order to give better security to merchants. I’m quite interested in authenticating the user based on the creation some kind of biometric behavior-based unique profile for every customer and every user,” she told PYMNTS.
94 
PYMNTS
SEPTEMBER 22, 2020
The feature can connect to more than 11,000 financial institutions (FIs) and retains security through multifactor authentication and tokenization, Acumatica explained.
110 
PYMNTS
SEPTEMBER 3, 2020
Security Is Top Of Mind . The rising tide of card-not-present transactions and digital commerce also brings security Issues to top of mind, noted Cole. The transparency and user-friendly nature of apps also mean retailers and merchants will have to shift the ways in which they design and present loyalty programs.
104 
PYMNTS
AUGUST 24, 2020
To protect businesses, security experts urge anyone who receives such a request to double- and triple-check with whomever made the initial request. The Pandemic's Security Impact. How To Retain Security. One seemingly real enquiry to change bank account details can — and often does — mean millions of dollars lost.
61 
PYMNTS
NOVEMBER 16, 2020
“It wasn't necessarily fundamentally that different from the kind of fraud that we've seen in the past, but people and businesses forgot good [ security ] practices because there was such a sense of urgency and the environment.”. Customers are largely willing to accept a little extra friction in the name of security, Kakani noted.
PYMNTS
SEPTEMBER 21, 2020
And in one recent edition of PYMNTS’ KYC/AML Tracker details, the rise of open banking is likely to spur a “fast track” for new AML efforts, including multifactor authentication (MFA) and strong customer authentication (SCA) processes.
139 
PYMNTS
AUGUST 7, 2019
Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government. Any lapse in governmental security could have much farther-reaching effects. Providing two of the three is typically sufficient to securely verify identities. .
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.”. That’s changing now.
52 
The Fintech Times
MARCH 6, 2024
However, as the digital payments ecosystem expands, ensuring the security of customer payment information remains a paramount concern. As a result, our focus remains on combating fraud and enhancing security. Merchants must ensure that the checkout process is quick, efficient, and secure, benefiting all parties involved.
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.
PYMNTS
JANUARY 10, 2019
The headlines surrounding PSD2 trumpet the arrival of open banking – where customers and companies have access to data in one place and can share it with third parties through APIs – but there is also the need for strong customer authentication (SCA). Looking for Exemptions. PSPs have been steadily gathering more information from merchants.
Global Fintech & Digital Assets
DECEMBER 11, 2023
Technical Controls The Amendments introduce a number of heightened technical controls, including: Multifactor Authentication: With only very limited exceptions, multifactor authentication (MFA) is now required for “any individual” accessing “any information system” of a covered entity.
PYMNTS
JANUARY 13, 2021
eCommerce consumers said security is important when shopping, and 83 percent said that transparent fraud protection information plays a large role in deciding which eTailer to do business with. Developments F rom The World Of Digital Fraud. A survey found that 92 percent of U.S.
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.
71 
Fintech Finance
MAY 22, 2024
MyTU implements advanced security through custom multifactor authentication, which integrates multiple ECDSA keys with IP and DNS data verification, and utilizes secure timestamps alongside bidirectional out-of-band communication, to ensure the highest standard of security and compliance.
59 
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.
46 
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. Digital communications company Twilio is using AI to make voice prints a form of back-end authentication.
59 
PYMNTS
OCTOBER 25, 2017
Increasingly, voice is being used as a security feature, but it actually has huge holes in it,” Shin said. “If You really need to have a second channel or factor of authentication if you want to authenticate the owner of that voice.”. Voice recognition security isn’t the only thing on which Shin and his team are working.
40 The Paypers
AUGUST 9, 2017
(The Paypers) Rivetz was announced its collaboration with National Cybersecurity Center of Excellence (NCCoE) on the Multifactor Authentication for e-Commerce project.
PYMNTS
NOVEMBER 13, 2020
The end of the year marks the deadline for European migration to strong customer authentication ( SCA ), a 15-month extension from the original deadline. So, merchants are as ready, acquirers are ready, according to McLain, and the question mark is whether the issuers are ready.
61 
PYMNTS
AUGUST 16, 2018
But that does not mean a proactive mindset reigns when it comes to mobile security and innovation. The discussion took place, not only as consumers place more importance on privacy and security issues, but as the benefits of mobile payments and mobile wallet integration gain more attention. Mobile Innovation.
PYMNTS
JULY 9, 2018
As a result, users will have to re-authenticate to the Timehop app. That cloud computing account had not been protected by multifactor authentication, Timehop said in the blog, noting that it has taken steps (including multifactor authentication) to secure authorization and access controls on all accounts.
40 
FICO
JANUARY 22, 2020
Banks were asked which identity and authentication strategies they used, with the majority saying they used multifactor authentication (84 percent). Why try to crack a safe when you can walk in the front door?
FICO
JANUARY 27, 2020
Whether it’s fraud or money landering, the steps in identifiying these activities are the same: customer authentication, monitoring transactions and detecting suspicious behaviors or anomalies, and appropriately responding to these risks. There is an estimaged 85% overlap in the technology used by fraud and financial crime compliance teams.
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