Knowledge-Based Authentication and Passwords Are Dead; We Need a New, Multidimensional Approach
KBA and simple password authentication are antiquated in the age of the data breach. With rapid global growth in online and mobile banking and the rise of worldwide real-time payments, financial institutions are implementing innovative authentication methods aimed at improving customer experience while securing evolving ecosystems. Yet these authentication methods often function in silos, and then result in unnecessary customer challenges and ineffective operations.
Enterprises need an omni channel, customer-centric authentication management strategy that allows them to dynamically decide when and how to challenge customers.
In devising this strategy, organizations can learn from the ways in which FIs use intelligent authentication management to manage customer authentication processes across all channels to make real-time, risk-based decisions.
The session will discuss:
- Omni-channel authentication management;
- New advances in authentication technologies;
- Customer-first authentication decisions;
- How to write authentication strategy policy for complex ecosystems.
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