Strong Customer Authentication Solutions

  Strong Customer Authentication (SCA) is a core regulation that payment services need to abide by under the new European Revised Payment Service Directive, PSD2.  With the rise of open banking and online payments, governments implemented this technology 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 an institution, financial service, or third-party business. Authentication offers an extra layer of security for customers as well as payment service providers. Since PSD2 simplified payments systems along electronic channels, it opened up banking platforms into a single market. As a way of combating the potential fraud that is found with online services, Strong Customer Authentication forces banks to uphold a standard of security by verifying users before any payments are authorized. SCA requires that all bank

  If you are a business owner are looking for ways to make sure that your systems are not compromised, you should consider passwordless authentication . Trying to replicate possessive or biometric factors is a lot harder compared to guessing passwords that people use over and over. And with no credentials to steal, cyberattackers have a much more difficult hill to climb. While so many people use passwords for securing their systems, the problem with them is that they can be easily hacked. You are probably wondering why every company has not yet embraced passwordless authentication with open arms with so much risk inherent in traditional passwords. Well, saying you want to implement passwordless authentication in your business and doing it are two very different things. Below, we look at some of the challenges of passwordless authentication. Besides the cost, there are some security measures that not even passwordless authentication can counteract, not to mention the fact that stakehold

  We are in the digital era where everything is a click away. From customer onboarding to online payments, personal information is considered the most valuable resource in this day and age. Businesses are striving hard to implement processes that can allow users to efficiently perform their tasks in digital space. Identity verification is an emerging market in the digital sphere that is becoming a need for every digital business. With so many identity verification solutions to choose from these days, it can be a challenging task knowing which one is suitable for your business and which one is not. It is imperative that you choose a service-provider that brings transparency and security for the organization. To make it easier for you to choose the right identity verification solution, you need to evaluate your needs. It is a well-understood fact that every use case requires a different level of user authentication as well as security. For example, if your business needs a simple verifi

  FIDO2 creates a simple way for enterprises as well as developers to give their customers simple, secure, passwordless authentication. The FIDO Alliance achieved FIDO2 certification in 2019 for its Authentication/Privacy Platform. Now, developers can offer their customers a simple way to eliminate traditional logins and passwords with secure biometric authentication across smartphones, tablets, tablets and PCs. FIDO2 is a set of standards that enables easy and secure logins to websites and applications via biometrics, mobile devices and/or FIDO Security Keys. The simpler login experiences of FIDO2 are backed by strong cryptographic security that is far superior to passwords, protecting users from phishing, all forms of password theft as well as replay attacks. Emerging regulatory trends like General Data Protection Rights (GDPR) and California Consumer Privacy Act (CCPA) are forcing organizations to comply with increased privacy protection rights for end-users. FIDO2 helps enterprises

  Connecting to the eKYC portal , especially for the people in the financial sector, has a lot of benefits. There are a wide range of benefits that banks and financial institutions can realize by accessing an e-KYC utility. The following are some of them. First of all, engaging with a local eKYC utility can lead to greater regulatory compliance and control.  If you are the Chief Commercial Officer (CCO) in a company or organization, you can rest assured that a KYC record is completed to a group policy standard. By harnessing all client data, documentation and compliance outcomes via a single client view, it is estimated that financial institutions can expect to re-use three-quarters (75%) of their centralized client and counterparty data across all regulatory frameworks, such as tax (FATCA, CRS, 871M), AML/KYC, and OTC Derivative rules (such as EMIR, Dodd-Frank, MiFID II and so on).Therefore, data is more up-to-date and accurate. Another benefit of connecting to the eKYC portal is fast

  Implementing digital signature API into your business is something that you should consider doing if you want to make your business operations easier. With a digital signature API, your business can collect signatures for agreements, deals, and contracts or legal documents directly on your website or product. You can integrate a secure, trusted eSignature API in order to sign documents, request eSignatures, automate the forms and data, and also speed up the signing process. You can also perform multi-factor authentication and download the sealed documents while also tracking the status of the documents in real-time, right from a website or app. One of the reasons why it is a good idea to implement digital signature APIs into your business processes is the ease and convenience. When engaging with a team or business partners and clients from different corners of the world, document signing involving paperwork can be tasking. For documents to be signed, you may have to travel across ci

  Biometric identity verification is one of the technologies that you should consider implementing in your business if you want to ensure the security of your systems. This technology and its uses in modern-day tech as well as digital applications has a number of advantages. The following are some of them. One of the benefits of security with biometrics is that user experience is convenient and fast.  Even though the internal processes for biometric authentication is technical, from the point of view of a user, it is incredibly easy and quick. Putting a finger on a scanner and unlocking an account in seconds is faster compared to typing out a long password that has multiple special characters. Additionally, forgetting a password is a common mistake that most users tend to make. Chances of you forgetting your own biometrics are nil. Another benefit of using biometric identity verification technology in your business is that biometrics are non-transferrable. This technology requires its