Banks need to develop customer authentication strategies that meet demand for strong security as well as convenience, says Mary Ann Miller of NICE Actimize, who describes emerging multifactor approaches in this video interview.
Implementing a successful cybersecurity strategy in light of advanced threats calls for operationalizing three key principles: visibility, identity and risk, says Zulfikar Ramzan, chief technology officer at RSA.
Warning to parents and guardians: Beware of collecting, storing or sharing your child's biometric information - including fingerprints and DNA - even if you're creating a so-called "Child ID Kit," because the data is a natural target for identity thieves.
Cambridge Savings Bank in Massachusetts is incorporating biometrics into its online and mobile banking platform as a way to limit, and in some cases remove, the need for username and password authentication. In this case study interview, two bank executives discuss what others can learn from the project.
To boost security and eliminate the need for passwords, MasterCard plans to later this year roll out a facial biometrics app for authentication of online purchases. But some experts warn that biometrics technology is not fool-proof and should only be deployed as part of a layered authentication approach.
In 2013, Apple introduced Touch ID, a biometric technology that brought convenient fingerprint recognition to a mass consumer
audience. Banks have gravitated to Touch ID
because it provides them with a device-based technology
they may leverage to secure the mobile banking platform, and,
in turn reduce their costs...
Banks can no longer view mobile banking as a "new channel" or optional service. It is now the preferred form of banking for an entire generation of customers and, arguably, the single biggest banking innovation since the advent of the ATM.
Banks in particular have gravitated to Touch ID technology because it...
Defeating biometrics-based security with far-fetched schemes, such as stealing or replacing eyeballs and fingertips, is a recurring theme in the movies. But real-world advances in authentication will help make it difficult to circumvent real-world security.
The severity of the U.S. Office of Personnel Management breach continues to grow, with investigators now reporting that hackers stolen 5.6 million people's fingerprint data. The theft may have security implications well into the future.
For contact centers, the effectiveness of security questions is declining. Professional fraudsters can successfully answer questions using stolen customer records from growing cyberbreaches and customer experience is impacted by adding more security questions.
Is there a way for more powerful fraud detection...
The White House Summit on Cybersecurity and Consumer Protection late last week served as the stage for more than a dozen companies and trade groups to announce new initiatives aimed at securing Internet transactions and payments and reducing fraud.
MasterCard is testing a biometric wristband that authenticates a user's identity for payment card transactions by monitoring their heartbeat. Payment experts weigh in on whether the technology has the potential for widespread use in preventing card fraud.
Part 1 - Voice Biometrics in the Call Center
See how the detailed analysis of millions of voice-based transactions has produced a "signal in the noise." From large-scale analysis, clear patterns emerge of how stolen payment card information is actually qualified, updated and adapted for monetization. This process...