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And at the crossroads of the authentication conversations are the challenges financial institutions face when addressing consumerauthentication and how to implement the bestpractices in order to provide merchants and FIs with sufficient protection against potential fraud. Challenges Of ConsumerAuthentication.
What we have a responsibility to do is keep things up to date and adopt the bestpractices for locking the bad guys out.”. So those bestpractices, he noted, aren’t necessarily about building the highest possible wall. “There is no single fix that will solve every issue for all times.
approaching a couple thousand dollars, and each incident of eCommerce fraud costing merchants several hundred dollars, now is the time to wonder if the traditional methods of consumerauthentication are pulling the weight that they once did. With the average loss of a single fraudulent “new” online bank account in the U.S.
That was the crux of a recent digital discussion Karen Webster had with Ken Allen, SVP of operations at Socure , when the two dug into one increasingly evolving, complex topic that’s driving the future of payments and financial services: authenticating the consumer.
Logic and bestpractices suggest the more a bank can communicate the dangers of scams and how to avoid them, the less likely customers will be to fall for scams in which they otherwise participate willfully, if unwittingly. Debbie holds a B.A.
Rick Ziolkowski, a payment authentication specialist for Amtrak, explained that the past few years have been a period of intense growth and progress for the railroad’s ticket buying and payment authentication procedures. Looking toward the future, mobile wallets appear to be the next major player in the authentication solution game.
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