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Multifactor Authentication Related Topics 
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.
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. Phone Call For You.
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.
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.
223 
Payments Source
OCTOBER 15, 2019
MFA stops broad attacks, but more targeted hacks can still get through, says KnowBe4's Roger Grimes.
The Paypers
JULY 11, 2024
million Authy users, a multifactor authentication app by Twilio. Schubert Jonckheer & Kolbe LLP is investigating a data breach affecting 33.4
36 
Payments Source
JANUARY 9, 2019
By adding device, cryptographic keys and behavioral ID, fake biometrics become harder for crooks to use, according to Bimal Gandhi, CEO of Uniken.
The Paypers
JANUARY 18, 2017
(The Paypers) Vanguard Integrity Professionals has announced the immediate availability of its enhanced Multifactor Authentication solution across its enterprise cybersecurity software suite.
The Paypers
FEBRUARY 10, 2017
(The Paypers) iovation , a provider of device intelligence-based authentication and fraud prevention solutions, has announced the general availability of its LaunchKey mobile multifactor authentication solution.
Payments Source
FEBRUARY 21, 2021
Without additional security measures, hackers can compromise multifactor authentication and wreak havoc on financial institutions and their customers.
PYMNTS
JULY 10, 2020
Customers cannot afford to let fraudsters compromise their bank accounts under any circumstances, but the current economic climate makes attacks all the more painful. Financial institutions (FIs) thus need to ensure they can successfully block ATOs as well as quickly detect and mitigate any that slip through.
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
OCTOBER 15, 2020
The solution will come through more advanced methods like multifactor authentications that do away with the reliance on passwords. Multifactor authentication can be cumbersome for users, though, who often value efficiency over security.
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.
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
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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The Paypers
AUGUST 24, 2017
(The Paypers) Australia-based cybersecurity company TokenOne has announced the involvement in a consortium project for the US National Cybersecurity Center of Excellence (NCCoE).
PYMNTS
AUGUST 24, 2020
This multifactor authentication strategy can be as easy as walking down the hall to meet face-to-face with the chief financial officer, yet with teams still working remote, the process has migrated to the phone or video chat. One seemingly real enquiry to change bank account details can — and often does — mean millions of dollars lost.
61 
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
APRIL 16, 2020
Insufficient security approaches, such as failure to sufficiently protect AP systems against unauthorized users — such as by implementing multifactor authentication — might contribute to such problems. Healthcare companies must especially be vigilant about their AP defenses even as the pandemic puts pressure on them to act quickly.
52 
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
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.
PYMNTS
JULY 9, 2018
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. EST, when an access credential to its cloud computing environment was compromised.
40 
PYMNTS
SEPTEMBER 3, 2020
No matter the tools deployed across the issuers, acquirers or consumers, multifactor authentication (and risk scoring) will continue to be an important part of the payments ecosystem and do much to ensure confidence in secure transactions.
104 
PYMNTS
JANUARY 13, 2021
Behind-the-scenes analytics or multifactor authentication are widely supported by customers, even though they could result in a slightly more inconvenient customer experience. A survey found that 92 percent of U.S. For more on these and other digital fraud news items, download this month’s Tracker.
PYMNTS
OCTOBER 8, 2020
We also use multifactor authentication and 2FA to prevent unauthorized access to ensure all of our wallets are always safe. “During mobile app sign-up, we verify details with 2FA using text messaging and email verification,” Wuerch said. “We We have bank-level encryption to ensure information is safe and secure.
83 
PYMNTS
DECEMBER 5, 2016
Choudhury also predicts secure voice authentication, or a voice print, will become more prevalent as a biometric safeguard. This technology reads a consumer’s voice patterns to authenticate transactions. Choudhury said Qualcomm has spoken with various payments partners about building multifactor authentication into smartphone devices.
PYMNTS
SEPTEMBER 5, 2019
Sacknoff recently spoke to PYMNTS about examining how these authentication tools fit each channel customers use to interact with businesses. Fraud is an ever-evolving space, [so] it’s important, with multifactor authentication, to look at it holistically,” she said.
46 
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
FEBRUARY 18, 2020
Requiring multifactor authentication (MFA) could add frictions to companies’ payment systems and customer experiences, but such tools are necessary to enable smart authentication and compliance decisions. Omnichannel Fraud Protection.
PYMNTS
JUNE 8, 2020
Increasingly, firms are moving toward multifactor authentication and OpenID Connect to combat … risk,” Anthony Golia , chief architect of North America financial services at Red Hat, told PYMNTS. Cloud Havens and Changing Keys. There’s more than one way to beat a cyberthief, and the B2B API dev world is onto that.
52 
PYMNTS
SEPTEMBER 4, 2019
Mobile app users may have different authentication preferences than those who call the contact center, which could lead to frictions if companies are not prepared. As a result, banks like TD Bank are approaching call center security needs with tools like multifactor authentication (MFA).
40 
PYMNTS
NOVEMBER 16, 2020
“On the front end, we protect the front door through user authentication to make sure that the person sending the transaction is the correct individual and authorized to do so. Customers are largely willing to accept a little extra friction in the name of security, Kakani noted.
PYMNTS
NOVEMBER 13, 2020
It’s hard to say if they are,” said McLain, who added that some issuers have gotten their arms around the shift to multifactor authentication to make online purchases more secure, and some are wrapping things up.
61 
PYMNTS
SEPTEMBER 14, 2020
When it comes to preventing an attack, multifactor authentication and other kinds of multilayer security measures, plus the practice of frequently updating software and installing patches, remain the tried-and-true defenses. Blackbaud's data breach isn't unique, per se.
52 
The Fintech Times
MARCH 6, 2024
However, this foundation allows us to partner with others or concentrate on a multi-cryptogram strategy, multifactor authentication, and improving transaction security. We have the fundamentals of transaction processing in place, which is essential for us to maintain, of course. I often liken fraudsters to a game of Whack a Mole.
PYMNTS
DECEMBER 30, 2016
In 2016, retailers adopted the use of multifactor authentication to allow payment authentication via Apple Pay, Samsung Pay and others. Retailers’ native applications are expanding, allowing users to engage with the brand and content in-store while enabling targeted and personalized push notifications for repeat visits.
PYMNTS
NOVEMBER 16, 2020
Multifactor authentication (MFA) has become commonplace for online accounts, with users confirming their identities via text messages sent to their phones. Biometric authentication methods like fingerprint and facial recognition scans are now standard on the latest smartphone models.
71 
FICO
JANUARY 22, 2020
Banks were asked which identity and authentication strategies they used, with the majority saying they used multifactor authentication (84 percent). Banks will need to move beyond passwords and OTPs and add biometrics, device telemetry and customer behavior analytics to keep up with the changing payments landscape.
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).
PYMNTS
SEPTEMBER 5, 2019
TD Bank has been offering TD Voiceprint since 2017, and the service examines approximately 150 separate voice characteristics to determine if customers are legitimate and prevent authentication frictions. Lindsay Sacknoff, head of U.S.
59 Fintech Labs Insights
DECEMBER 8, 2016
Vasco to power multifactor authentication for BankMobile. Around the web. Mambu expands to Singapore. Engadget interviews Bo Lu, CEO of FutureAdvisor. Micronotes launches Enterprise 4.0 platform that helps convert digital banking traffic into personal conversations and sales.
PYMNTS
APRIL 30, 2018
PSD2 sets out the requirements for SCA, an identity verification procedure that leverages multifactor authentication. Multifactor authentication does introduce new frictions that could make purchasing goods online less desirable. SCA pulls in factors such as ownership (i.e., SCA pulls in factors such as ownership (i.e.,
PYMNTS
JULY 12, 2018
PSD2 sets out the requirements for SCA, an identity verification procedure that leverages multifactor authentication. The product combines chip technology with a fingerprint scanner to verify the cardholder’s identity when making purchases in-store or online. SCA pulls in factors such as ownership (i.e.,
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