Strong Customer Authentication Solutions

  A great number of customers who have victims of fraud were not aware of it until it was too late. Card details can be easily compromised. Haven’t we all willingly given our card numbers over the phone to order a takeaway or entered them into an unknown site when registering for the first time? A rapid rise in online fraud together with a demand for better online security from consumers as well as retailers alike has finally led to the introduction of strong customer authentication (SCA). Strong customer authentication is the process of ensuring that the person who is making a purchase online is, in fact, the real cardholder. Even though there are many online payment risks, the good news is that there are ways to decrease your chances of being a victim. Before a transaction is approved, the customer needs to prove that they are the cardholder by the use of two or more elements that are categorized as knowledge (something only the user knows or password), possession (something only in

  A lot of business people nowadays have started to rethink the user experience around how their employees authenticate. Smartphone and mobile apps have made accessing information easier, faster, and more convenient in our personal lives, but completing this task in our professional lives still remains a challenge. Think about how you access your mobile phone. Chances are you touch a fingerprint sensor to unlock your phone, or maybe you use facial recognition. What you are doing here is essentially performing two-factor authentication (a mobile device counts as possession and your biometrics counts as inherence) and quickly unlocking your phone without typing in a code or password. Now, think about how you access work applications. Chances are the authentication process is not as effortless or fast. You probably need to enter a password filled with special characters, upper case letters and numbers in order to access an application. If your company requires 2FA, you probably also have

  Are you looking for a good identity verification solution to use in your business? One thing you need to keep in mind is that a bulletproof ID verification solution does not exist yet, so the goal at the moment is to minimize the fraud because it cannot be fully prevented. But this does not mean that you should settle for just any ID verification solution you come across. The following are some of the steps you should make to ensure you are choosing the right solution. First of all, you will need to evaluate your processes.  It is important to keep in mind that not all use cases require the same level of security and validation. If the use case relates to, for instance, a simple verification of people who are checking into your office building, the set of information necessary for verification in this case does not need to be extensive. In this case, a biometric fingerprint verification and identity document scanning can do the job without the need for further checks.  But if yo

  FIDO’s certification programs are very important when it comes to ensuring an interoperable ecosystem of products and services that organizations can leverage to deploy FIDO Authentication solutions worldwide. The FIDO Alliance manages functional certification programs for its core specifications to validate product conformance as well as interoperability, and in addition it has introduced programs for delineating security capabilities of FIDO Certified Authenticators and to test and validate the efficacy of biometric components. FIDO certification brings a lot of benefits to vendors, deploying organizations as well as end users alike.   For vendors, earning the FIDO(R) Certified mark validates to customers the integrity of their product, meaning that the product adheres to the FIDO Specifications and interoperates within the marketplace – for example, a FIDO2 Certified Server can accept any FIDO2 Certified authenticator, regardless of its manufacturer. This certification also best-p

  A lot of people nowadays are using digital wallets to keep their money or transact online.    A digital wallet is simply an electronic version of payment cards and accounts. Since the time when the world was hit with the coronavirus pandemic, mobile payment apps have become very popular. United States users jumped from 38% to 55% of smartphone owners in 2020 because they are more convenient and secure for many consumers. They also help serve an important population, which includes the unbanked and underbanked.  The following are some of the advantages of digital wallets. First of all, digital wallets can help to reduce fraud. The data that is stored in digital wallets is encrypted, meaning your actual card account numbers are not transmitted while making a payment. These wallets use random payment codes that cannot be reused and often rely on certain security features, such as biometrics, to authorize a payment. Moreover, your full card account number is not displayed anywhere in a

  Digital identity verification provides a significant opportunity for value creation for both individuals and institutions. In  the financial services industry, the pivotal role of identity authentication lies with the ability to establish and verify identities of customers as well as employees. This ability is essential to  maintaining customer trust as well as the security of transactions. The ongoing rapid growth in digitization, new technologies as well  as new user behaviors has  revolutionized the ways in which financial institutions interact with both their customers and employees. This process has dramatically changed the scope and procedures of their identity management obligations. Due to this, banks have started to re-evaluate their role in the identity supply chain. This is because the accurate verification and authentication of their customers’ identity online is becoming very important to the functioning of society as well as the successful application of several unrela