An open letter to banks on SMS Authentication
Payments Dive
MARCH 27, 2020
To protect against fraud, the banking industry needs to find alternative methods for authentication beyond SMS verification.
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Payments Dive
MARCH 27, 2020
To protect against fraud, the banking industry needs to find alternative methods for authentication beyond SMS verification.
VISTA InfoSec
NOVEMBER 7, 2023
Mutli-Factor Authentication (MFA) isn’t a new concept. What Is Multi-Factor Authentication? Let’s start with another simple definition – multi-factor authentication is any authentication method where more than one criterion has to be satisfied before access is granted to digital assets.
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. Phone Call For You.
Fintech News
OCTOBER 1, 2024
HSBC Singapore has reportedly become the first bank in the country to introduce Singpass Face Verification (SFV) for in-app provisioning on its mobile app. This step-up authentication is part of broader efforts to improve customer protection and security in Singapore’s banking sector.
Segpay
NOVEMBER 26, 2024
In today’s digital world, online ID verification has become a crucial component of customer onboarding. As we move our personal, financial, and governmental interactions to digital platforms, the need for reliable and efficient digital identity verification processes has become critical. What is Digital Identity Verification?
Fintech News
MAY 14, 2024
The Evolution of Deepfakes The term “deepfake” itself reflects the technology’s foundation in deep learning and its ability to fabricate authentic-looking content by seamlessly combining and altering existing visual and audio elements.
Fintech News
SEPTEMBER 17, 2024
Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. SFV will be used in high-risk scenarios to complement existing authentication methods during DT setup.
Evolve Payment
OCTOBER 22, 2024
This newly developing deepfake trend poses a serious risk to businesses of all sizes, making advanced identity verification more critical than ever. One way we do this is through rigorous qualification processes, which sometimes include requests that seem strange on the surface, such as requesting a selfie for identity verification.
PYMNTS
AUGUST 11, 2020
In the latest Digital Consumer Onboarding Tracker® , PYMNTS analyzes how the ongoing COVIID-19 pandemic is continuing to affect digital onboarding, the technologies companies are employing as part of these processes and why robust address verification has become essential during this time. Around The Digital Onboarding World.
PYMNTS
SEPTEMBER 23, 2020
California-based Jumio said its artificial intelligence (AI)-fueled identity verification offerings are now available to Microsoft Azure Active Directory External Identities for business-to-consumer (B2C) clients.
PYMNTS
NOVEMBER 20, 2020
An old Los Angeles gas station is getting a new life as a drive-thru authentication hub for eBay , according to a company statement on Friday (Nov. eBay’s first-ever "Authentication Station" can be used by sellers to verify the authenticity of frequently counterfeited merchandise like sneakers and watches.
VISTA InfoSec
FEBRUARY 25, 2024
User Account Details Usernames, passwords, security questions, login timestamps, failed login attempt logs, password reset tokens, multifactor authentication details, and session IDs. Accidental data leaks by insiders mishandling information also trigger breaches frequently.
PYMNTS
NOVEMBER 25, 2020
He said that identity verification can be well-achieved by AI models, but the teams creating those models need access to data that doesn’t have built-in bias. A starting point to conducting identity verification is document-based, he said. By contrast, face verification is about establishing one’s identity.
PYMNTS
NOVEMBER 24, 2020
This is leading many to utilize two-factor authentication (2FA) methods to safeguard customers’ personal information. Many FIs and businesses are relying on 2FA measures that leverage SMS — or text message-based — verification to cater to a growing number of consumers who are using mobile channels to transact. About The Tracker.
PYMNTS
SEPTEMBER 17, 2020
Identity verification provider Jumio found in its Global Trust and Safety Survey that one in five U.S. The sharing economy — a market projected to be valued at more than $300 billion by 2025 — can adopt a number of different digital identity verification tools to help build that trust, however. . Seamless, Secure Onboarding .
PYMNTS
FEBRUARY 13, 2020
So before we add another layer of authentication , we should ask, is this actually going to serve a purpose or solve our problem?”. What is necessary, said Xie, is a different, more holistic paradigm for fighting fraud – with a broad goal of not adding more authentication steps, but fewer. The Zero-Authentication Future.
The Paypers
JANUARY 24, 2025
Entrust has launched an AI-powered identity verification as a new tool for its IDaaS platform, enabling facial biometric authentication by verifying users against their encrypted identity.
PYMNTS
OCTOBER 8, 2020
This is why verifying consumers’ identities by authenticating their email addresses and other details must be as seamless as the rest of the onboarding experience, Ryan Wuerch , CEO and founder of cash-back platform Dosh , said in a recent PYMNTS interview. . We have bank-level encryption to ensure information is safe and secure. “We
The Paypers
APRIL 26, 2024
Entrust has introduced an authentication solution consolidating identity verification (IDV) and identity and access management (IAM) into a single platform.
PYMNTS
JANUARY 18, 2021
The following Deep Dive examines the logistical challenges businesses are confronting as they work to remotely vet and hire new employees and analyzes how digital identity verification solutions can ease the task. . ID Verification In The Remote Age . Remote Hiring Now And In The Future .
PYMNTS
DECEMBER 8, 2020
The December AML/KYC Tracker® explores the latest in AML/KYC developments, including the growing problem of money laundering at cryptocurrency exchanges, the transaction analysis and user verification procedures exchanges are deploying to stop launderers, and the still-extant problem of money laundering at traditional financial institutions.
PYMNTS
APRIL 21, 2020
The Royal Bank of Canada (RBC) is one such FI that recently rolled out digital government identity verification capabilities, allowing customers to verify their identities using its RBC mobile app. Customers click on their IDs in the mobile app to receive and complete ID verification processes at home with a high level of security.
The Paypers
NOVEMBER 21, 2024
Global identity verification provider Shufti has announced the launch of its Fast ID authentication and portable identity service for its customers.
Fintech Finance
AUGUST 5, 2024
For the past 25 years, he has been involved in online identity verification including being a key member of the team that built the UK’s first eIDV product (BT URU). David then moved on to work with GBG to lead the development team on their ID3 Global online identity verification product, which was the global market leader for many years.
Fintech Review
OCTOBER 1, 2024
A new focus on digital identity verification As the financial landscape continues to evolve, the importance of Anti-Money Laundering ( AML ) and Know Your Customer (KYC) processes has never been more pronounced. Surveying 1000 consumers, the study delved into their experiences and expectations regarding digital verification.
PYMNTS
SEPTEMBER 16, 2020
Sharing economy providers must rely on digital verification to ensure that hosts and users are safe, Paine explained. Stashbee’s verification process begins by guiding potential hosts during the creation of their online shopfronts. The final host verification step involves getting set up with Stashbee’s payment system.
The Fintech Times
AUGUST 30, 2024
To speed up this process to a matter of seconds, iDenfy , the Lithuanian regtech, is launching its new ‘Face Authentication’ service. The iDenfy Face Authentication check enables businesses to onboard new customers quickly and securely. The extracted information then verifies the authenticity of the face.
Fintech Finance
JUNE 14, 2024
Fingerprint Cards AB (Fingerprints ) and WiBioCard , an Italy-based smart card integrator specializing in web access authentication, verification and physical and logical access control have partnered to offer innovative smart card solutions for the global access market.
The Fintech Times
JUNE 8, 2024
Moneyhub , the UK-based data and payments platform, has launched its new account verification service, powered by open banking, to enable better payment security utilising bank-level security controls (including PSD2 SCA) and biometrics.
The Fintech Times
SEPTEMBER 21, 2024
Major retail banks in Singapore are set to progressively implement Singpass Face Verification (SFV) in the near future, as the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) plan to strengthen the digital token (DT) setup process for retail banking customers.
Fintech Finance
JUNE 7, 2024
Moneyhub , the market-leading data and payments platform, has today announced the introduction of its account verification service. Powered by Open Banking, Moneyhub Account Verification enables better payment security utilising bank level security controls (including PSD2 SCA) and biometrics.
The Fintech Times
OCTOBER 17, 2024
As digital threats continue to evolve and as fraudsters get savvier, the need for secure and convenient authentication methods grows increasingly important. To find out how re-authentication can help keep firms and their customers safe, three experts joined The Fintech Times to share their insights. That needs to be resolved.
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.
Fintech News
FEBRUARY 7, 2024
Entrust, known for its secure payments, identities, and data protection solutions, has confirmed that it is in the midst of discussions to acquire Onfido , a London-based firm specialising in artificial intelligence (AI) and machine learning (ML) powered identity verification technologies. said Mike Tuchen, Onfido’s CEO.
PYMNTS
AUGUST 3, 2020
That’s meant busy times for Melissa, which has spent over three decades in the digital-identity verification and authentication business. Laing also noted that regulations governing customer authentication are growing stricter than ever. Electronic Identity Verification Takes Center Stage . rose 33 percent in April.
PYMNTS
OCTOBER 7, 2020
Having robust verification tools in place during the digital onboarding experience — including tools that can help verify users’ email addresses and payment details — is one way to help establish consumer trust, as well as keep fraudsters at bay. Deep Dive: Why FIs, Businesse s Must Upgrade Email Verification To Keep Fraud At Bay.
VISTA InfoSec
JUNE 18, 2024
In addition to access control, fortify your defenses with Multi-Factor Authentication (MFA). This advanced data security measure demands additional verification beyond just a device passcode, such as a fingerprint scan or random code from a mobile app. A crafty hacker could infiltrate accounts secured by flimsy credentials.
VISTA InfoSec
FEBRUARY 28, 2024
Today, we turn our attention to Requirement 8: Identify Users and Authenticate Access to System Components. Changes Core Requirement Authentication must use at least one of the following: - Something you know (password) - Something you have (token) - Something you are (biometrics) Same core requirement. c (v3.2.1) -> 8.2.2.c
The Fintech Times
DECEMBER 13, 2023
DataVisor, the AI-powered fraud and risk platform, has expanded its end-to-end platform capabilities with the integration of SMS customer verification for fraudulent transactions, powered by T wilio technology.
Finovate
JUNE 11, 2024
An injection attack occurs when a fraudster injects a deepfake– which could be a synthetic document, video, facial image, or audio representation– into an identity verification workflow to spoof the system. This works to bypass traditional fraud detection and identity verification methods.
NFCW
SEPTEMBER 12, 2024
VERIFICATION: The Digital Credentials API will use digital IDs to verify website users A new Digital Credentials API that will allow visitors to a website to verify their identity using a driver’s license or a national identification card stored in their digital wallet has now entered testing.
Fintech News
DECEMBER 10, 2024
LexisNexis Risk Solutions, a global data and analytics company under RELX, has agreed to acquire IDVerse , a provider of AI-powered document authentication and fraud detection solutions. Its advanced accuracy delivers improved and more comprehensive identity verification for clients. Financial terms were not disclosed.
Fintech News
SEPTEMBER 9, 2024
.” In the Philippines, The Philippine Statistics Authority in partnership with the Department of Information and Communications Technology, launched the Digital National ID this June, together with authentication platforms, National ID eVerify and National ID Check.
The Fintech Times
MAY 24, 2024
Only 45 per cent of global organisations have implemented multi-factor authentication (MFA). Other notable findings for UK decision-makers Organisations have protections against identity fraud, but the UK relies on multi-factor authentication in place of more advanced technologies. childhood pets, mother’s maiden name.
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