Strong Customer Authentication Solutions

  Strong Customer Authentication is among the core regulations that payment services need to abide by under the new European Revised Payment Service Directive, PSD2.  The rise of open banking and online payments has seen governments implement SCA to reduce fraud, to help secure the transaction of digital payments, and also to protect consumers across digital channels. SCA requires customers to verify their identity before payment transfers can occur online, whether with a financial service, institution, or third-party business. Authentication is important because it provides an extra layer of security for customers as well as payment service providers alike. Since PSD2 simplified payments systems along electronic channels, it opened up banking platforms into a single market. In order to combat the potential fraud found with online services, Strong Customer Authentication forces banks to uphold a standard of security by verifying users before any payments are authorized. There are var

  It is without doubt that employees are an important part of any organization. But sadly, a lot of the security issues arise due to employee negligence and errors. A common mistake that many employees make is using weak passwords. If you feel like using passwords is putting your business data and systems at risk, you could switch to passwordless authentication UX . This is a process that verifies the identity of a user with something other than a password. It strengthens security by eliminating password management practices and the risk of threat vectors. So, why should you use passwordless authentication in your business? Credential theft and password misuse are on the rise. As a result, companies are heading towards passwordless authentication with the aim of addressing the failure of passwords and protecting access to data, systems and networks. For enterprises, the need for passwordless authentication is very important especially in this digital age. It also minimizes the havoc of

  With mobile identity verification technology gaining popularity in the business world, you may be wondering if it is something that you can also benefit from your business. Mobile technologies create real opportunities for financial service firms to capitalize on cost-effective and engaging customer acquisition methodologies. The following are some of the benefits of using mobile capture to optimize the omnichannel customer acquisition experience. First of all, mobile identity verification can help reduce friction in the data capture step by extracting data directly from IDs and other documents that are presented by the prospect. Using machine learning, mobile auto capture technology can extract relevant front-side ID information and rear-side barcode scans. Using those documents to reduce data capture friction helps kill two birds with one stone. Another benefit of using mobile identity verification technology is that it helps outsmart faulty Knowledge-Based Authentication with ID

  FIDO2 keys are very important because they help companies achieve a passwordless environment much faster due to their interoperability and security design. They work right out of the box and use a separate cryptography chip to qualify for the highest authenticator assurance level, thereby making it possible to meet the most rigorous compliance requirements. You need to understand the practical power behind the FIDO2 key technology to be able to know how you can benefit from it in your business. One of the benefits of this technology is that mobile devices work great with FIDO2 security keys. Before FIDO2, using a hardware security key on a mobile device required extra software and an extra reader. But the major mobile device manufacturers have invested heavily in making FIDO2 a natural part of their authentication system. Because of this, you can now use a FIDO2 security key on a mobile device right out of the box. This compatibility can help you immediately deploy strong multi-fact

  We live in an era where nearly every aspect of our lives is touched by technology, and banks are not left behind. Bank customers expect the system to move from traditional, manual to open the fast and digital account. This is very crucial since the process of attracting new customers is the bank’s first chance to win them over and pave the way for the entire relationship to move forward. There are various benefits of using eKYC in digital onboarding process for banks. The first one is that it is instantaneous. The eKYC service is completely automated online, meaning KYC data can be transferred in real-time without the need for any manual intervention. Unlike the paper-based KYC process that can take days up to weeks to get verified, the eKYC process takes just a few minutes to verify and issue. Another benefit of eKYC in digital onboarding process for banks is reduced failed client acquisition and acquiring new customers. Nowadays, banks are under the pressure to increase their acqu

  Digital signature authentication is a technology that you should definitely consider using in your business if you are not yet using it. A digital signature is simply a mathematical scheme that is used for authenticating the sender of an electronic document. It ensures that the document is really from the sender and not from someone else while at the same time making sure that the message that reaches the recipient is the same one sent without any alterations. Digital signature authentication is efficient in legally binding documents since these signatures are difficult to imitate and can be time-stamped. There are various benefits of using digital signatures in your business. The first one is that they can be built into your digital workflows. These signatures use validation to make sure that the sender is the person who signed the document. Ordinarily, this requires the help of a third-party, which might take more time. But modern technology enables users to use digital signatures

  Delegated authentication has a lot of benefits to merchants. This method makes the checkout process in online shops as simple and straightforward as possible for customers, reducing abandoned purchases and improving conversions. If merchants could authenticate their customers themselves, one-click checkout would be easy to implement. If you are looking to try your luck in online business, then you delegated authentication is something that you cannot ignore. The strong trend towards online shopping is going to continue, and a lot of online merchants already know their customers and use various methods to authenticate them. With more and more customers these days using smartphones or tablets for online shopping, it means that you are likely to having a lot of people shopping for your products online. Most mobile devices and most browsers support biometrics, something that facilitates authentication. Merchants using Card on File based on tokenization (card data permanently stored at t